Hong Kong overtakes Switzerland as top global cross‑border wealth hub

Boston Consulting Group’s 2026 Global Wealth Report finds Hong Kong has become the world’s largest cross‑border wealth‑management centre, booking US$2.95 trillion of offshore assets in 2025. This narrowly exceeds Switzerland’s US$2.94 trillion, ending the Alpine nation’s long‑standing lead. The surge is driven by an IPO boom and massive inflows from mainland China, which supplied about 60 % of Hong Kong’s cross‑border assets. BCG projects annual growth of roughly 9 % for Hong Kong and Singapore through 2030, with total offshore wealth at the hub expected to reach about US$4.6 trillion. Switzerland, while losing ground, remains a key safe‑haven, attracting flows from volatile regions such as the Middle East, and benefits from a diversified client base across Europe and the Americas. The shift reflects a broader eastward migration of global wealth, as Asian fortunes expand faster than those in Europe and North America.