Economic Watch: Hong Kong takes crown as top wealth hub, likely to keep it
HONG KONG, June 11 (Xinhua) -- Hong Kong has dethroned Switzerland as the world's largest booking center for cross-border wealth, about two years earlier than market expectations, as its booming financial market creates and grows wealth.
Hong Kong's cross-border wealth assets rose 10.7 percent to 2.95 trillion U.S. dollars in 2025, driven by Chinese mainland flows and a vigorous stock market that delivered significant IPO activity and strong gains in benchmark-heavy internet platforms, said Boston Consulting Group's 2026 Global Wealth Report.

The city's long-term sweet spots -- safe and steady investment environment, access to global markets and abundant investment options -- appear more valuable to global investors at a time of geopolitical tension, luring many Asian high-net-worth clients to move their money back to Hong Kong, said Liu Yang, associate professor of finance at Hong Kong University Business School.

Local data showed that over 3,380 single-family offices operate in Hong Kong by the end of 2025, marking a more than 25-percent hike over the past two years. By the end of April this year, the city had received nearly 3,600 applications for the New Capital Investment Entrant Scheme, which could bring a total investment of 108 billion Hong Kong dollars (about 14 billion U.S. dollars).
The Initial Public Offering (IPO) market bonanza in Hong Kong from last year also spilled over to the wealth management sector by loading company founders and shareholders with extra cash to invest, said Liu.
The 119 IPOs in 2025 raised a total of 37.4 billion U.S. dollars, catapulting Hong Kong to the world's top IPO fundraising venue.
Christopher Hui, secretary for financial services and the treasury of the Hong Kong Special Administrative Region government, highlighted the "reinforcing triangle of wealth, companies and financial market at play." Family offices and high-net-worth individuals inject the liquidity that Hong Kong's capital market needs to attract new listings.
The private sector also stands to benefit. Deloitte China Tax & Business Advisory Hong Kong Leader Anthony Lau told Xinhua that his overseas clients tend to expand their family businesses in Hong Kong after setting up family offices here.
The Boston Consulting Group report projected Hong Kong's cross-border wealth to grow about 9 percent annually through 2030. This means that Hong Kong is likely to retain its top spot for growing at a faster pace than Switzerland, which expects an annual expansion of 6 percent.
Hong Kong could emerge as a stronger wealth management hub on the back of a number of trends, analysts say. An upgrade driven by artificial intelligence, advanced manufacturing, and the green transition will create wealth for entrepreneurs, many of whom are from Asia. The great wealth transfer set to take place in the next three decades, where 83 trillion U.S. dollars of wealth are to be inherited, will attach value to Hong Kong's expertise in wealth management and succession planning.
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