Hong Kong overtakes Switzerland as world’s leading offshore capital hub

Hong Kong has overtaken Switzerland for the first time to become the world’s leading centre for offshore wealth management, according to a report by Boston Consulting Group (BCG).

The Global Wealth Report cited a surge in capital inflows from mainland China and a recovery in the local stock market as key drivers behind the shift.

In 2025, foreign assets held in Hong Kong rose by 10.7% to $2.95 trillion, narrowly surpassing Switzerland’s $2.946 trillion, which grew by 7.6%. BCG projects that the gap could widen to nearly $600 billion by 2030.

Despite global trade tensions and macroeconomic uncertainty, worldwide private wealth reached $333 trillion. The report notes that Hong Kong and Singapore are strengthening their positions as key hubs for Asian capital, while Switzerland, the United States, and the United Kingdom remain dominant centres for Europe, the Middle East, and Latin America.

BCG Managing Director Michael Kahlich said Hong Kong’s rise reflects the growing attractiveness of Asian capital markets. Analysts also pointed to rapid expansion in the family office sector: the number of such offices in Hong Kong increased by 25% since 2023, reaching 3,384 by the end of 2025, with more than 1,000 managing assets exceeding $100 million.