Offshore Wealth in Hong Kong Could Surpass Switzerland in 2025
Hong Kong’s status as an international wealth hub is experiencing a sharp rebound, with the city potentially surpassing Switzerland this year in terms of cross-border assets.
Hong Kong could surpass Switzerland in 2025 by cross-border wealth with $2.9 trillion in assets by the end of the year, according to calculations in the 2025 BI (Bloomberg Intelligence) Asia Private Wealth Survey.
Looking toward the future, Hong Kong and Singapore will continue to be leaders with with surveyed respondents projecting cross-border wealth in the two hubs to rise annually by an average of 12 percent over the next five years, compared to the global growth rate of 10 percent.
Overall, 85 percent of respondents expect assets under management and net new money in Asia’s private banking industry to increase annually by at least 6 percent in the coming five years, with a quarter forecasting double-digit growth.
Top Client Source: Mainland China
Over the next three to five years, 30 percent of new wealth management clients in the region are expected to originate from mainland China, up from the current 26 percent share of the client base.
Respondents also anticipate the Middle East to become an increasingly important source of new clients, albeit from a smaller base.
Attracting Assets With Tech
Technology was named as the top factor for wealth managers to attract new money, with 72 percent ranking it as the top three most important drivers in the next five years.
More than half (57 percent) believe AI has had the greatest impact on improving client data and generating insights for advisors. Only 3 percent expect layoffs despite the use of AI to boost revenue and cost efficiency.
Investor Risk Appetite
Investor sentiment is also on the rise, with half of the respondents claiming clients’ risk appetite had become higher or much higher over the past 12 months. Equities, private equity, digital assets and hedge funds are expected to be the preferred asset classes for increased exposure.
«Supported by targeted policy measures, Hong Kong is well positioned as a cross-border hub, broadening access for mainland clients and international capital. Singapore, meanwhile, retains a unique edge with deep Southeast Asia connectivity,» said Sharnie Wong, senior industry analyst at BI and lead author of the survey.
The survey was based on responses from 100 senior private wealth management practitioners based in Hong Kong and Singapore.
