Switzerland Remains Biggest Offshore Wealth Centre

by swisscham in Business

The stock market boom boosted personal financial wealth around the globe by 12% last year Ð to the benefit of Switzerland. It is still the worldÕs biggest centre for managing offshore wealth at USD 2.3 trillion (CHF 2.3 trillion). Figures revealed in a Boston Consulting Group report published on 14 June put the country ahead of Hong Kong (USD 1.1 trillion) and Singapore (USD 900 billion). The Swiss sum is the equivalent of almost one third of all global overseas wealth. The two Asian centres have grown at yearly rates of 11% and 10% respectively over the past five years, compared with the 3% rate of Switzerland. ÒOver the next five years, offshore wealth seems likely to continue growing at a (compound annual growth rate) of roughly 5% per year,Ó the report stated. Large wealth managers including Swiss banks UBS and Credit Suisse are increasingly looking into Asian market because Swiss banking secrecy has been weakened.

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Your Swiss Business Platform in China

SwissCham China has roughly 600 company members. Our Chamber maintains a strong relationship with the Embassy of Switzerland, Swiss Global Enterprise, Swissnex and Switzerland Tourism. As the representative of the Swiss companies established in China, our goal is to help you to increase your business and visibility, especially amongst the Sino-Swiss business community.

Become A Member

Sign Up For Our Newsletter

  • This field is for validation purposes and should be left unchanged.
June 4, 2021
Published By swisstrade.com in Bilateral Relations
June 3, 2021
Published By prnewswire.com in Business
May 28, 2021
Published By chinadaily.com.cn in Engineering / Manufacturing
May 20, 2021
Published By globaltimes.cn in Bilateral Relations
May 18, 2021
Published By globaltimes.cn in Culture & Society