The Hong Kong Special Administrative Region has overtaken Switzerland for the first time as the world’s largest cross-border wealth hub, US-based global management consulting firm Boston Consulting Group said.
Cross-border wealth booked in the Hong Kong SAR rose 10.7 percent in 2025 to reach $2.9 trillion, driven by Chinese mainland capital inflows, strong initial public offering activity, and equity-market gains, according to BCG Global Wealth Report 2026.
“We are seeing wealth creation, cross-border capital flows, and investment ecosystems increasingly concentrate into a smaller number of globally connected hubs. Hong Kong’s rise reflects the growing gravitational pull of Asian wealth and capital markets,” said Michael Kahlich, a BCG managing director and partner and co-author of the report.
BCG’s analysis finds that cross-border wealth is increasingly consolidating into two global hub networks. One is anchored by the HKSAR and Singapore, serving Chinese mainland, Indian, and Southeast Asian capital. The other is anchored by Switzerland, the United States, and the United Kingdom, serving European, Middle Eastern, and Latin American wealth.
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The report noted that Singapore continues to strengthen its position as Asia’s most diversified offshore wealth center, benefiting from safe-haven flows and continued expansion of its wealth-management ecosystem. Meanwhile, the United Arab Emirates remains among the fastest-growing booking centers globally, with cross-border wealth rising 11 percent in 2025.
Cross-border wealth rose 8.4 percent globally to $15.7 trillion, with the top 10 booking centers capturing almost 90 percent of new offshore flows, the report added.
Despite ongoing trade tensions, tariff brinkmanship, and geopolitical instability, global financial wealth grew 10.7 percent in 2025 to reach $333 trillion, the fastest growth since 2021. Including real assets, global net wealth climbed to nearly $550 trillion, the report said.
The report identifies a broader restructuring underway across the global wealth-management industry, spanning geographic shifts, emerging-market wealth creation, intergenerational succession, and artificial intelligence-driven operating model transformation.
