Hong Kong tops Switzerland as world’s largest offshore wealth hub

ET BureauLast Updated: May 28, 2026, 06:47:00 AM IST

Synopsis

Hong Kong has become the world's top wealth hub, surpassing Switzerland. Offshore assets in Hong Kong reached $2.9 trillion in 2025. Global private fortunes also saw significant growth. Emerging markets are set to add substantial wealth by 2030. Hong Kong's lead is expected to grow, driven by China's economy and its IPO market.

Hong Kong has narrowly overtaken Switzerland to become the world’s largest cross-border wealth hub. Offshore assets booked in the Asian city in 2025 rose 10.7% to $2.9 trillion.

TWO HUB NETWORKS
Hong Kong and Singapore form a growing ecosystem serving Asian capital. Switzerland, the US and the UK remain primary conduits for European, Middle Eastern and Latin American wealth.

Agencies

GLOBAL WEALTH SURGE
Global private fortunes expanded at their fastest pace since 2021, reaching a total of $333 trillion in 2025, despite tariffs and macroeconomic instability

A MILLION MILLIONAIRES

• Emerging markets are expected to add nearly $7 trillion in financial wealth by 2030, led by India, Brazil, and Mexico. The affluent-and-above segment is forecast to grow 8% annually across these markets
• This is expected to create more than one million new millionaires by the end of the decade

WHY WEALTH FLOWS TO HK
BCG forecasts Hong Kong’s lead will widen to nearly $600 billion by 2030, fuelled by China’s manufacturing strength and a revival in Hong Kong’s IPO market.

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