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Bangkok Post
Bangkok Post
Business

Hong Kong overtakes Switzerland as world's top cross-border wealth hub on China ties

Hong Kong Switzerland China BCG Boston Consulting Group UBS Asia Zurich
An evening view of the financial Central district and Victoria Harbour in Hong Kong, China, on May 9, 2023. (Photo: Reuters)

ZURICH — Hong Kong has overtaken Switzerland as the top global booking centre for cross-border wealth, a first that is unlikely to be reversed as hubs in Asia grow faster than the European safe-haven, Boston Consulting Group (BCG) said on Wednesday.

Wealth ​from China and an initial public offering (⁠IPO) boom in 2025 helped Hong Kong rise to a US$2.95 trillion offshore behemoth for the world's rich, narrowly surpassing Switzerland's $2.94 trillion in cross-border wealth, according to BCG's 2026 ‌Global Wealth Report.

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