Global private wealth has been growing fast in recent years, exceeding economic growth worldwide. To keep their assets protected and in privacy and take advantage of tax benefits, many of the world’s wealthiest people make offshore investments. According to data presented by Aksje Bloggen, Switzerland is still the prime destination for private offshore wealth. The total value of wealth kept in the Alpine republic hit $2.4trn last year or one quarter of the global sum. Hong Kong and Singapore to Witness the Biggest Growth of Private Offshore Wealth by 2025 There are several countries in the world considered as the top private offshore wealth destinations. Behind Switzerland as the number one location, Hong Kong ranked second with $2.1trn in private cross-border wealth in 2020, revealed the Boston Consulting Group survey. Singapore took third place on this list with $1.2trn in offshore investments, twice less than the two leading countries. The United States, the Channel Islands, and the United Arab Emirates followed, with $0.9trn and $0.5trn, respectively. With $0.3trn in total cross-border assets, the United Kingdom ranked as the eighth most popular offshore wealth destination globally. However, the most significant growth was expected in Hong Kong and Singapore, primarily due to the wealth created in Mainland China. By 2025, the private offshore wealth in Hong Kong and Singapore is expected to grow by a CARG of 9%. According to the BCG, although China’s growing influence in Hong Kong and the related protest movement did not significantly affect offshore wealth development in the territory, it might cause local investors to increasingly favor Singapore in the future. Germany to Witness the Biggest Growth of Ultra Rich’s Wealth, 100% by 2025 Knight Frank’s 2021 wealth report showed that North America leads in the number of ultra-high net worth individuals. Last year, the number of UHNWIs in the region, or people whose net assets, including the primary residence, amount to over $30 million, hit over 190,000. Europe and Asia followed with 151,600 and 116,700 UHNWIs, respectively. According to Hurun Research Institute data, Beijing was the city with the highest number of billionaires or 145 in 2021. Shanghai, New York, Shenzhen, and London follow, with 113, 112, 105, and 82 billionaires, respectively. However, Germany is set to witness the most significant increase in the ultra rich’s wealth. By 2025, this figure is expected to double to $0.8trn. India ranked second with an 83% increase to $1.1trn in this period. Statistics show Mainland China is forecast to hit $6.5trn in ultra rich’s wealth by 2025, 80% more than in 2020. Still, the largest absolute total is expected to be seen in the United States. By 2025, the US ultra rich individuals will hold around $7.8trn in total assets.