Hong Kong has overtaken Switzerland as the world's largest cross-border wealth center. According to Boston Consulting Group, Hong Kong now holds $2.95 trillion in offshore wealth, surpassing Switzerland's $2.94 trillion.
China ties and an IPO boom in 2025 helped Hong Kong rise. "Hong Kong is cementing its role as China's gateway to global markets," the report notes.
Both Hong Kong and Singapore are projected to grow at around 9% annually through 2030, compared to 6% for Switzerland.
Client proximity matters. Switzerland's diversification may be an advantage, but Asian hubs depend heavily on China.
