The world’s wealthiest investors are becoming more mobile as they plan for additional residences around the world and seek out global opportunities for their assets and businesses.
HSBC’s Global Wealth Hubs: Drivers of Diversification 2025 report shows how wealthy business owners share a global mindset – where national and regional borders are viewed as opportunities rather than obstacles.
The report is based on an analysis of a survey of high net worth (HNW) and ultra high net worth (UHNW) entrepreneurs on their attitudes towards their wealth and businesses in international markets. It focuses on five key global wealth hubs – each with their unique attractions, but which complement each other:
- Hong Kong: Hong Kong ranks top for business owners with multi-residency. It also forms part of the biggest wealth corridor in our research, with 49 per cent of Hong Kong entrepreneurs having an additional residency in mainland China.
- Singapore: Singapore has thrived as an international wealth hub in recent decades, particularly with the region’s entrepreneurs. The Singapore-India wealth corridor is the third largest in our research.
- Switzerland: Switzerland retains its broad appeal across all ages and levels of wealth. It ranks first for entrepreneurs seeking to move their personal wealth to a new location over the next 12 months.
- UK: The UK is home to the largest percentage of multi-resident entrepreneurs surveyed in Western markets, and is the most popular location for the oldest and the wealthiest surveyed entrepreneurs considering taking up residency.
- US: The US remains a magnet for the world’s wealthy and business owners, ranking equal first alongside Singapore in the survey of 23 cited markets for HNW entrepreneurs considering it as a location to establish part or all of their business.
Willem Sels, Chief Investment Officer of HSBC Global Private Banking and Wealth, said: “We see no sign of deglobalisation from an investment perspective. In fact, entrepreneurs’ desire to access opportunities outside their home markets is growing at a time when many respective governments are adopting a more domestic bias from an economic or trade perspective. Diversification is all about opening up opportunities.”
