Hong Kong tops Switzerland as the world's biggest cross-border wealth hub

Hong Kong has overtaken Switzerland to become the world’s largest cross-border wealth hub, with about $2.9 trillion of international assets in 2025—roughly 60% from mainland China. The Boston Consulting Group expects the gap to widen to nearly $600 billion by 2030 as Asian fortunes grow. The shift reflects Hong Kong’s revived equity markets, China’s manufacturing strength, and a broader move by wealthy clients to diversify assets across jurisdictions to hedge geopolitical risks. Banks are expanding booking operations in HK and Singapore, while Switzerland faces regulatory pressures and questions about defending its position; Dubai is rising as a regional bridge, though cross-border wealth there remains smaller than Hong Kong or Switzerland.