Asia emerges as a safe haven for global wealth
Singapore and Hong Kong are gaining ground as investors seek stability and protection amid growing geopolitical uncertainty.
The definition of a financial safe haven is changing. Investors are increasingly looking beyond traditional assets such as gold and government bonds towards jurisdictions that offer political stability, strong institutions and reliable financial systems.
According to a new Julius Baer report, Singapore and Hong Kong are emerging as key destinations for internationally mobile wealth. Hong Kong overtook Switzerland in 2025 to become the world’s largest cross-border wealth booking centre, while Singapore ranked third.
Both cities benefit from established financial infrastructure and strong links to global markets. Singapore offers political stability and a diversified investor base, while Hong Kong remains an important gateway to mainland Chinese wealth. However, Hong Kong’s close ties to China and its US dollar peg also present potential risks.
Governance and institutional quality
The report highlights governance and institutional quality as central to a jurisdiction’s appeal. Singapore performs strongly in government effectiveness and regulatory quality, while Japan and New Zealand also score highly across governance indicators.
Australia and Japan offer further alternatives, supported by strong institutions and economic stability. However, tax considerations, including inheritance taxes, may make them less attractive to some wealthy families.
Asia’s growing economic weight is reinforcing the region’s appeal. Rising wealth, expanding financial markets and its central role in technology and semiconductor production are strengthening its position in the global economy.
Switzerland keeps status as a leading safe haven
Switzerland, however, is unlikely to lose its status as a leading safe haven. Rather than replacing traditional centres, Julius Baer expects a more diversified landscape, with Switzerland, the US and UK forming a Western axis and Singapore and Hong Kong anchoring an Asian one.
Ultimately, the competition for global wealth will depend not only on financial services, but on trust: the confidence that capital, businesses and families can remain secure across generations.
