Hong Kong adds 681 family offices as wealthy shift focus from US: Deloitte

Hong Kong has seen a significant increase in single-family offices, with an estimated 3,384 entities by the end of last year, up 681 from the fourth quarter of 2023. This represents a 25% rise over two years. The family offices originated from all major regions, including mainland China, Europe, Asia-Pacific, and the US. A survey of 136 market participants found that 85 single-family offices were established to manage wealth from around the world. The growth is attributed to global changes, including trade tensions between the US and other countries, which has led affluent individuals to refocus on Hong Kong. This increase reflects the government's efforts in policy formulation and institutional development.

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