Hong Kong Surpasses Switzerland as World's Top Offshore Wealth Hub

Hong Kong surpassed Switzerland as the world's largest cross-border wealth hub in 2025, driven by an influx of mainland Chinese capital and a rebounding local equity market. Offshore assets booked in the city rose 10.7% to $2.9 trillion, according to Boston Consulting Group's 2026 Global Wealth Report. BCG forecasts the gap between Hong Kong and Switzerland will widen to nearly $600 billion by 2030, fueled by Asia's rapid wealth accumulation and a revival in Hong Kong's IPO market. The shift comes as global private fortunes expanded at their fastest pace since 2021, reaching $333 trillion. Hong Kong's family office sector has boomed, with single-family offices growing 25% from 2023 to 3,384, each managing at least $10 million. The government plans to extend tax concessions to more asset classes to attract ultra-wealthy clients seeking diversification amid geopolitical tensions.