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

by
Le News
My articles My siteAbout meMy videosMy books
Follow on:LinkedINTwitterFacebookGoogle +

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

©-Valeriya-Potapova-_-Dreamstime.com_ - Click to enlarge

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.

About 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.

My articlesMy siteAbout meMy books
Follow on:LinkedINTwitterFacebookGoogle +