NEW DELHI: Switzerland remains the prime destination for most personal offshore wealth globally.
According to the Boston Consulting Group, overseas private riches parked at the republic attained 2.4 billion bucks in 2020 – a quarter of the worldwide total.
The largest increase, however, has been anticipated at Hong Kong and Singapore – the best 3 and 2 to the record – because of prosperity generated in Mainland China.
Private offshore prosperity – or cross-border prosperity – also gathered in tax-friendly entities such as the UK’s Channel Islands and Isle of Man in addition to the United Arab Emirates and Luxembourg.
The US and the UK seemed in positions 8 and 4.
Even though China’s growing impact in Hong Kong along with the associated protest movement failed to have a significant influence on international wealth growth in the land, the growth may cause local investors to favor Singapore later on, based on BCG.
(Resource: Statista)