An IMGlobalWealth.com News Report
Hong Kong has overtaken Switzerland as the world’s largest cross-border wealth hub, marking a symbolic shift in the geography of global private wealth and underlining Asia’s growing influence in international finance.
According to Boston Consulting Group’s Global Wealth Report 2026, cross-border wealth booked in Hong Kong rose by 10.7% in 2025 to reach around $2.9 trillion, narrowly ahead of Switzerland, which grew by 7.6% to a similar level. Reuters reported the figures more precisely as $2.95 trillion for Hong Kong and $2.94 trillion for Switzerland.
“(this shift) reflects a deeper reordering of global wealth, as Asia’s capital markets, entrepreneurs and private fortunes become harder for the old financial centres to ignore”
The rise of Hong Kong has been driven largely by mainland Chinese capital flows, strong equity-market performance and renewed initial public offering activity. BCG said mainland China accounted for more than 60% of assets under management in Hong Kong’s cross-border wealth market, reinforcing the city’s role as China’s gateway to global capital markets.
The shift does not mean Switzerland has lost its relevance. The Swiss market remains one of the world’s most established and diversified wealth-management centres, with deep roots in Western Europe and continued appeal for clients seeking political stability, confidentiality and institutional strength. BCG also noted that geopolitical uncertainty could continue to support Switzerland’s role as a safe-haven booking centre, particularly for wealth from more volatile regions such as the Middle East.
Yet the momentum is increasingly Asian. BCG expects both Hong Kong and Singapore to grow cross-border wealth at around 9% annually through 2030, compared with about 6% for Switzerland. Singapore remains Asia’s most diversified wealth hub, while Hong Kong’s fortunes are more closely tied to mainland China’s economic and regulatory cycle.
The broader picture is one of concentration. Global cross-border wealth rose by 8.4% in 2025 to $15.7 trillion, with the top ten booking centres capturing almost 90% of new offshore flows. BCG said the world is increasingly organising around two wealth-management axes: Hong Kong and Singapore for Asian capital, and Switzerland, the US and the UK for European, Middle Eastern and Latin American wealth.
Hong Kong’s ascent is therefore more than a ranking change. It reflects a deeper reordering of global wealth, as Asia’s capital markets, entrepreneurs and private fortunes become harder for the old financial centres to ignore.
