Hong Kong overtakes Switzerland as top global booking centre for cross-border wealth.
According to Boston Consulting Group’s 2026 Global Wealth Report, Hong Kong has surpassed Switzerland as the leading hub for cross-border wealth. With a value of $2.95 trillion offshore behemoth, it narrowly outperforms Switzerland’s $2.94 trillion.
Hong Kong is solidifying its role as China’s gateway to global markets, but this ties its growth closely to mainland economic and regulatory developments, according to BCG authors.
Both Hong Kong and Singapore are forecasted to continue growing at about 9% annually through 2030, compared to an average of 6% in Switzerland over the same period.
Global cross-border wealth grew by 8.4% to $15.7 trillion last year, with most demand for geographical diversification, further boosting concentration among top booking centres.
Despite slower growth rates, Switzerland’s diversification may prove advantageous as it attracts clients from all regions, while Asian hubs largely depend on China’s growth, BCG noted.
Geopolitical uncertainty has reinforced Switzerland’s role as a core global booking centre, drawing flight-to-safety flows from volatile regions like the Middle East, according to BCG.
Wealthy individuals are shifting assets away from the Gulf region to Switzerland amid ongoing conflict, financial advisers have told Reuters.
“Client proximity is key,” said Michael Kahlich, who co-authored the report. Two hubs are forming globally – Singapore and Hong Kong for Asia, and Switzerland, the UK, and the US for the Western region.
As being close to clients becomes increasingly important, Swiss banks like UBS expand into other major hubs, expanding their wealth management presence in both Singapore and Hong Kong, Kahlich added.