Hong Kong just dethroned Switzerland as the world’s largest offshore wealth booking center. According to the Boston Consulting Group’s Global Wealth Report 2026, released on May 27, the city now manages roughly $2.95 trillion in cross-border assets, edging past Switzerland’s $2.94 trillion.
The margin is razor-thin, about $10 billion separating the two. But the trajectory tells a bigger story: Hong Kong’s cross-border assets grew 10.7% year-over-year, powered overwhelmingly by money flowing out of mainland China.
Follow the money from the mainland
Here’s the number that matters most: approximately 60% of Hong Kong’s incoming offshore wealth originated from mainland China.
The surge was fueled by a significant rebound in the region’s equity markets and a resurgence in initial public offerings.
