Hong Kong has surpassed Switzerland as the top hub for cross-border wealth, according to a report by Boston Consulting Group, demonstrating strength in the midst of geopolitical instability.
For the first time ever, Hong Kong has overtaken Switzerland to become the leading offshore wealth hub worldwide, according to a report by Boston Consulting Group (BCG) entitled Global Wealth Report 2026: The Great Reordering.
In 2025, cross-border wealth booked in Hong Kong rose 10.7% to reach USD2.9 trillion, driven by mainland China inflows, strong IPO activity, and equity market gains. Total cross-border wealth increased 8.4% globally to USD15.7 trillion, with the top ten booking centers accounting for 90% of new flows.
New wealth engines
Including real assets, global net wealth grew 9.3% to nearly USD550 trillion with North America being the top contributor, adding USD10.8 trillion. By 2030, emerging markets are expected to be create the next wave of millionaires with the addition of nearly USD7 trillion in financial wealth, led by India (USD2.37 trillion), Brazil (USD1.08 trillion), and Mexico (USD550 million).
“These shifts are reshaping the geography of global wealth,” said Michael Kahlich, a BCG managing director, partner and co-author of the report. “We are seeing wealth creation, cross-border capital flows, and investment ecosystems increasingly concentrate into a smaller number of globally connected hubs. Hong Kong’s rise reflects the growing gravitational pull of Asian wealth and capital markets.”
