Azernews.Az

by Alimat Aliyeva

Hong Kong has overtaken Switzerland for the first time to become the world’s leading hub for offshore wealth management, driven by a powerful inflow of capital from mainland China and the strong recovery of the local stock market, AzerNEWS reports.

According to the latest report, the volume of foreign assets managed in Hong Kong вырос на 10.7% в 2025 году, достигнув $2.95 trillion. For comparison, Switzerland recorded growth of 7.6%, with total offshore assets reaching $2.946 trillion.

Analysts at Boston Consulting Group (BCG) believe Asia’s rapidly expanding wealth sector will continue strengthening Hong Kong’s position. By 2030, the gap between Hong Kong and Switzerland could widen to nearly $600 billion.

Despite ongoing tariff disputes, geopolitical tensions, and macroeconomic instability, global private wealth continues to expand rapidly and has already reached an estimated $333 trillion worldwide. While Hong Kong and Singapore are becoming increasingly dominant hubs for Asian capital, Switzerland, the United States, and the United Kingdom remain key centers for European, Middle Eastern, and Latin American wealth.

“We are seeing capital creation, cross-border investment flows, and financial ecosystems increasingly concentrated in a small number of globally connected financial centers,” said Michael Kalich, Managing Director and Partner at BCG and one of the report’s authors. According to him, Hong Kong’s rise reflects the growing global influence and attractiveness of Asian financial markets.

Experts also highlight the rapid growth of Hong Kong’s family office ecosystem. Since 2023, the number of single-family offices in the city has increased by 25%, reaching 3,384 by the end of 2025. According to a study by Deloitte, each of these structures manages at least $10 million in assets, while more than 1,000 family offices control capital exceeding $100 million.

Financial experts note that Hong Kong’s success is also linked to its strategic position as a gateway between Chinese and global capital markets, making the city increasingly influential in the future architecture of international finance.