People cross a street in Western district of Hong Kong on July 15, 2025. (AFP/Peter Parks)
Hong Kong has overtaken Switzerland as the top global booking center 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 said on Wednesday.Wealth from China and an 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.
"Hong Kong is cementing its role as China's gateway to global markets, though that same concentration ties its trajectory tightly to economic and regulatory developments on the mainland," the authors said.
Both Hong Kong and Singapore are projected to continue growing as cross-border booking centers at around 9 percent annually through 2030, compared to an expected 6 percent average in Switzerland over the same period.
Cross-border wealth globally grew 8.4 percent to $15.7 trillion last year, driven by strong markets and more demand for geographical diversification, and it flowed overwhelmingly to the world's top 10 booking centers, further boosting concentration, BCG added.
