In Depth: How Hong Kong Became a Global Wealth Magnet

Hong Kong has recorded strong growth in its wealth management business.

In 2024, cross-border wealth booked in the city surged by $231 billion to $2.7 trillion, putting Hong Kong on par with Switzerland, the long-time leader in cross-border wealth management, according to Boston Consulting Group Inc.’s latest Global Wealth Report. The surge was the largest in the world that year.