Hong Kong has surpassed Switzerland as a centre for global offshore wealth, according to a report from Boston Consulting Group (BCG).
The special administration region of China was home to $2.9 trillion of offshore wealth in 2025, up more than 10 per cent on the previous year, thanks in part to increased flows of wealth from the mainland. The findings were revealed in BCG’s 2026 Global Wealth Report, which centred on how worldwide geopolitical tension has influenced private finances.
An increase in IPO activity was another reason for the surge in capital, the report noted. Hong Kong was the world’s top IPO fundraising venue in 2025, with proceeds having risen 231 per cent year-on-year to US$37.4 billion, according to Hong Kong Exchanges and Clearing Limited (HKEX).
[See also: Why British wealth management is taking on an American accent]
Related
Hong Kong’s success has seen it ‘narrowly’ edge past Switzerland as the world’s largest cross-border booking centre according to BCG, which listed the alpine nation’s store of offshore wealth also at $2.9 trillion and attributed its enduring to success to a reputation as a secure jurisdiction amid geopolitical tension having risen elsewhere in the world.
Cross border wealth in Hong Kong is predicted to significantly increase to $4.6 trillion by 2030, the report added. Wealth flowing from mainland China is expected to account for the bulk of this, reaching a total of $3.1 trillion by 2030.
Switzerland’s store of offshore wealth is expected to grow significantly by 2030 too, reaching $4 trillion – a 38 per cent increase – as it remains an established centre for offshore wealth for Western European and Middle Eastern HNWs.
[See also: The best wealth managers in Switzerland in 2026]
Content from our partners
Hong Kong is well placed to benefit from wealth derived from booming industries across Asia, such as Korean semiconductors and Chinese AI microchips – a factor that weighed in the 2030 projection.
However, the former British colony was expected to face some headwinds, losing out on some cross-border wealth from Japan and Taiwan as a result of geopolitical tensions between the US and its allies. By contrast, these factors were expected to benefit Singapore. The city state’s credentials as a safe haven have already been underlined in recent times, with cross-border wealth rising to $2.1 trillion in 2025, up 10.3 per cent on the previous year.
Overall, international offshore wealth rose by 8.4 per cent to $15.7 trillion in 2025. This rise was driven by investors’ desires to diversify their wealth across jurisdictions and currencies, not just via asset classes, the report emphasised.
[See also: Abu Dhabi’s ‘first home-grown hedge fund’ targets multi-billion AuM in three years]
