Hong Kong's Single-Family Offices Increase by 25% in 2023

Hong Kong has seen a significant rise in the number of single-family offices, with a 25% increase to 3,384 by the end of last year. Bloomberg posted on X, highlighting the city's efforts to strengthen its position as a leading Asian wealth hub. This growth reflects Hong Kong's strategic initiatives to attract global wealth and investment, reinforcing its status in the region. The increase in single-family offices underscores the city's appeal to affluent families seeking to manage their wealth in a favorable economic environment. Hong Kong's commitment to enhancing its financial infrastructure and regulatory framework has been pivotal in attracting these entities, contributing to its reputation as a premier destination for wealth management in Asia.