On May 27, Boston Consulting Group (BCG) released the Global Wealth Report 2026. Notably, the Hong Kong Special Administrative Region (HKSAR) has officially surpassed Switzerland to become the world's number one cross-border wealth management center. Previously, Switzerland's political stance as a permanently neutral country and its relaxed financial environment attracted a massive volume of corporate and private assets (such as gold and large sums of cash). However, by the end of 2025, Hong Kong edged past Switzerland with a narrow lead, reaching a total cross-border wealth management volume of $2.95 trillion, compared to Switzerland's $2.94 trillion.
This leading edge is fully expected to continue widening. As a vital economic hub in Asia, Hong Kong attracts a massive number of enterprises looking to use the city as a wealth transit station and regional headquarters to drive their operations into mainland China and Southeast Asia. Furthermore, the Hong Kong government continues to aggressively roll out various preferential policies to incentivize foreign firms to establish a presence in the city.
Additionally, it's worth noting that Singapore currently ranks third globally, fiercely competing with Hong Kong for the title of Asia's top financial hub. Moreover, Singapore's growth rate is actually outpacing Hong Kong's (exceeding 10%, reaching $2.1 trillion last year). In the future, who between Singapore and Hong Kong will ultimately reign supreme as Asia's premier city?
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References/Sources: am730
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