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Swiss Offshore Wealth Management Sector still World’s Largest by far

A report by The Boston Consulting Group highlights the size of Switzerland’s personal offshore wealth management sector.

Wealth-management-Switzerland

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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.

Full story here
About Le News
Le News
The newspaper Le News is a free, quality, local English language newspaper launched on 31 October 2013. Le News fills a gap in local Swiss media for the numerous English-speakers living and visiting Switzerland. In late January 2015 we decided to put our print medium on hold and focus on our digital media presence.
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