by A report by The Boston Consulting Group highlights the size of Switzerland’s personal offshore wealth management sector. © Valeriya Potapova | Dreamstime.com Total personal offshore wealth grew by 6% to reach US.2 trillion in 2017. US.3 trillion (28%) of this was managed in Switzerland. The top three offshore centres: Switzerland (.3 trillion), Hong Kong (.1 trillion) and Singapore (%excerpt%.9 trillion) made up more than half (52%) of the total. If past trends continue, Hong Kong and Singapore will eventually surpass Switzerland. Over the last five years annual growth rates in Hong Kong (+11%) and Singapore (+10%) have outstripped Switzerland’s (+3%). Offshore centres such as the Isle of Man and the Channel Islands declined over the same period. At the same time, personal offshore wealth
Topics:
Investec considers the following as important: Business & Economy, Editor's Choice, Personal finance, Wealth management Switzerland
This could be interesting, too:
Investec writes Swiss inflation falls further in January
Investec writes Catching ski pass cheats – reactions, fines and worse
Investec writes Swiss milk producers demand 1 franc a litre
Investec writes Swiss income taxes at highest level since 2008
A report by The Boston Consulting Group highlights the size of Switzerland’s personal offshore wealth management sector.
© Valeriya Potapova | Dreamstime.com
Total personal offshore wealth grew by 6% to reach US$8.2 trillion in 2017.
US$2.3 trillion (28%) of this was managed in Switzerland. The top three offshore centres: Switzerland ($2.3 trillion), Hong Kong ($1.1 trillion) and Singapore ($0.9 trillion) made up more than half (52%) of the total.
If past trends continue, Hong Kong and Singapore will eventually surpass Switzerland. Over the last five years annual growth rates in Hong Kong (+11%) and Singapore (+10%) have outstripped Switzerland’s (+3%). Offshore centres such as the Isle of Man and the Channel Islands declined over the same period.
At the same time, personal offshore wealth is only 4% of total global personal financial wealth, which reached US$202 trillion in 2017, after growing 12% across the the year.
More on this:
BCG report (in English)
For more stories like this on Switzerland follow us on Facebook and Twitter.