ZURICH, May 27 (Reuters) – Hong Kong has overtaken Switzerland as the top global booking centre for cross-border wealth, a first that is unlikely to \u200cbe reversed as hubs in Asia grow faster than the European safe-haven, \u200cBoston Consulting Group said on Wednesday.<\/p>\n
Wealth from China and an IPO boom in 2025 helped Hong Kong \u200brise to a $2.95 trillion offshore behemoth for the world’s rich, narrowly surpassing Switzerland’s $2.94 trillion in cross-border wealth, according to BCG’s 2026 Global Wealth Report.<\/p>\n
“Hong Kong is cementing its role as China’s gateway to global markets, though that same concentration ties its trajectory tightly to \u200ceconomic and regulatory developments on \u2060the mainland,” the authors said.<\/p>\n
Both Hong Kong and Singapore are projected to continue growing as cross-border booking centres at around 9% annually \u2060through 2030, compared to an expected 6% average in Switzerland over the same period.<\/p>\n
Cross-border wealth globally grew 8.4% to $15.7 trillion last year, driven by strong markets and more demand for \u200bgeographical diversification, \u200band it flowed overwhelmingly to the world’s \u200btop 10 booking centres, further boosting \u200cconcentration, BCG added.<\/p>\n
CLIENT PROXIMITY MATTERS<\/p>\n
Despite slower growth rates, Switzerland’s diversification may prove an advantage as it draws clients from all regions, while the Asian hubs largely depend on growth in China, the report added.<\/p>\n
“Geopolitical uncertainty reaffirms Switzerland’s role as a core global booking centre, attracting flight-to-safety flows from more volatile regions such as the Middle East,” \u200cBCG said.<\/p>\n
Wealthy individuals have been looking to shift \u200bassets from the Gulf region to Switzerland in the \u200bwake of the ongoing conflict, \u200bbankers and financial advisers have told Reuters.<\/p>\n
“What ultimately matters is client \u200cproximity,” said Michael Kahlich, who co-authored the \u200bBCG report, adding that \u200btwo hubs are forming globally – Singapore and Hong Kong for Asia, and Switzerland, the UK, and the U.S. for the Western region.<\/p>\n
As being close to \u200bclients has become more important, \u200cSwiss banks have expanded to other major hubs, Kahlich added. “UBS is number \u200bone in wealth management in both Singapore and Hong Kong,” he said.<\/p>\n
(Reporting \u200bby Ariane Luthi; Editing by Hugh Lawson)<\/p>\n","protected":false},"excerpt":{"rendered":"ZURICH, May 27 (Reuters) – Hong Kong has overtaken Switzerland as the top global booking centre for cross-border…\n","protected":false},"author":2,"featured_media":697061,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[254242,25200,45,49,48,95,87217,46,2297,15674,834],"class_list":["post-697060","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-bcg","tag-boston-consulting-group","tag-business","tag-ca","tag-canada","tag-china","tag-cross-border","tag-economy","tag-global-markets","tag-hong-kong","tag-switzerland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/697060","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=697060"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/697060\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/697061"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=697060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=697060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=697060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}