Hong Kong has overtaken Switzerland as the world’s largest cross-border wealth hub, managing an estimated $2.9 trillion in international assets in 2025, largely driven by money from mainland China. The shift reflects growing Asian wealth and a broader trend of wealthy clients diversifying their assets across multiple countries amid geopolitical risks, reports Mercedes Ruehl and Arjun Neil Alim of the Financial Times.
They also note rising competition among global financial centers, with Hong Kong and Singapore strengthening their positions in Asia, while Dubai continues to grow as a tax-friendly wealth hub attracting international investors.
