Hong Kong is reported to have overtaken Switzerland as the world’s largest cross-border wealth hub, according to Boston Consulting Group’s (BCG) latest global wealth report. BCG estimates that cross-border wealth booked in Hong Kong rises 10.7% in 2025 to US$2.95 trillion. This narrowly exceeds Switzerland’s figure of about US$2.94 trillion, which BCG says increases 7.6% after a rise in the previous year.
Both outlets attribute Hong Kong’s position to a combination of factors. They cite strength in the local initial public offering (IPO) market, which draws international and regional capital, and continued capital inflows linked to mainland China. The reports also connect the shift to broader growth in Chinese wealth and the role of Hong Kong as a financial gateway for cross-border investment.
The change reflects a close margin between the two financial centres and highlights how issuance activity and investor flows influence where wealth is booked across borders.
