Hong Kong overtook Switzerland as the world's largest cross-border booking center for the first time, with its cross-border wealth growing 10.7 percent year on year in 2025, according to a report released by the Boston Consulting Group (BCG) on Wednesday.

Hong Kong's cross-border wealth assets totaled 2.95 trillion U.S. dollars last year, driven by Chinese mainland flows and a vigorous stock market that delivered significant IPO activity and strong gains in benchmark-heavy internet platforms, the report said.

Flows from the Chinese mainland represented over 60 percent of assets under management, further cementing Hong Kong's role as China's gateway to global markets, the BCG said in the report.

The consulting firm projected the city's cross-border wealth to grow about 9 percent annually through 2030.