Wealth Management - Hong Kong

Hong Kong

Assets under Management in the Wealth Management market are projected to reach €198.00bn in 2024.
Financial Advisory dominates the market with a projected market volume of €195.50bn in 2024.
Assets under Management are expected to show an annual growth rate (CAGR 2024-2029) of 0.43%, resulting in a market volume of €202.30bn by 2029.

Key regions: United States, United Kingdom, Germany, Hong Kong, Singapore

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Analyst Opinion

Hong Kong is known as one of the leading global financial hubs, attracting investors and high-net-worth individuals from all over the world. The Wealth Management market in Hong Kong has been experiencing steady growth in recent years, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.

Customer preferences in the Wealth Management market in Hong Kong have been shifting towards more personalized and tailored investment solutions. High-net-worth individuals are increasingly seeking customized investment strategies that align with their specific goals and risk appetite. This has led to an increase in demand for wealth management services that offer a wide range of investment products, including equities, bonds, real estate, and alternative investments.

Trends in the market indicate a growing demand for digital wealth management solutions. Hong Kong has a highly tech-savvy population, and investors are increasingly looking for convenient and user-friendly platforms to manage their wealth. Fintech companies and traditional wealth management firms are investing in digital platforms to cater to this demand, offering features such as online portfolio management, automated investment advice, and mobile trading applications.

Another trend in the Wealth Management market in Hong Kong is the rise of sustainable and socially responsible investing. Investors are becoming more conscious of environmental, social, and governance (ESG) factors and are seeking investment opportunities that align with their values. Wealth management firms are responding to this trend by offering ESG-focused investment products and integrating sustainability considerations into their investment strategies.

Local special circumstances in Hong Kong, such as its proximity to mainland China and its status as an international financial center, have also contributed to the growth of the Wealth Management market. Hong Kong serves as a gateway for international investors looking to access the Chinese market, and wealth management firms in the region have capitalized on this opportunity by offering specialized services for cross-border investments. Underlying macroeconomic factors, such as Hong Kong's strong economic growth, stable political environment, and favorable regulatory framework, have provided a conducive environment for the development of the Wealth Management market.

The city's robust financial infrastructure, including its well-established banking system and efficient capital markets, has attracted both domestic and international investors. In conclusion, the Wealth Management market in Hong Kong is experiencing growth driven by customer preferences for personalized and digital wealth management solutions, market trends towards sustainable investing, local special circumstances such as its proximity to mainland China, and underlying macroeconomic factors that support the development of the financial industry. As Hong Kong continues to position itself as a leading global financial hub, the Wealth Management market is expected to further expand and evolve to meet the changing needs of investors.

Methodology

Data coverage:

The data encompasses B2C enterprises. The figures are based on gross revenues, assets under management, and user & advisor data of relevant services and products offered within the Wealth Management market.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, publicly available databases, and survey results from primary research activities (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as: GDP, gross national income (GNI), consumer spending, total investment (% of GDP), high income (% of population), and number of high-net-worth individuals (HNWI). This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).