Entrepreneurs are seizing global opportunities and deepening international wealth corridors as globalisation enters a new phase, according to research from HSBC Private Bank.
The Global Entrepreneurial Wealth Report 2025 found a decisive shift in cross-border wealth flows among entrepreneurs. Nearly three in five (59 per cent) are diversifying wealth internationally, more than half (57 per cent) are considering a personal move abroad, and almost half (49 per cent) plan to expand their business into new markets.
The report reveals how entrepreneurs have adapted to the changed economic environment by focusing on cross-border trade and movement of wealth within regions, particularly in Asia and the Asia-Middle East corridor. For example, the five markets where entrepreneurs were most keen to expand internationally are in Asia and the Middle East. Both Singapore and Hong Kong also play pivotal roles as business and wealth hubs.
Singapore ranked as the preferred location to move personal wealth (15 per cent), in large part due to its attraction as a regional centre. In contrast, the UK and Switzerland (both 11 per cent) were the next most popular wealth centres by attracting international movements of wealth as entrepreneurs in Asia and the Middle East diversify.
Despite market volatility and geopolitical uncertainty, the vast majority (94 per cent) of business owners are positive about their business prospects and 90 per cent expect their personal wealth to grow in the future. Technology is a key driver for their optimism. More than three in in five (62 per cent) cite tech advancements or AI as the top factors driving positivity for their business, while investing in AI is the most popular strategy for expansion.
The study also highlights that:
- Volatility in financial markets is the top concern among entrepreneurs in relation to their personal wealth (40 per cent), followed by inflation (36 per cent).
- Entrepreneurs are prioritising spending their wealth on cars (58 per cent), luxury goods (53 per cent), property (53 per cent) and health and wellness (50 per cent).
- Although 78 per cent say they have a clear business succession plan, half (51 per cent) worry about business continuity if they are not around.
- 40 per cent of ex-entrepreneurs passed their business on to family, while 20 per cent sold, 17 per cent transferred to non-family members and 14 per cent closed it down.
- Entrepreneurs are as likely to own private assets as listed equities (46 per cent each), though ownership of private assets varies widely by market.
Gabriel Castello, Chief Executive of HSBC Private Bank a.i., said: “In a year when long-established trade patterns have been challenged, entrepreneurs have adapted and thrived in the new environment. Their innovation and optimism has helped deepen trade routes and create new corridors, particularly between the Middle East and wealth hubs in Asia. Our research demonstrates that entrepreneurs are positioning themselves for the next phase of global growth and using these corridors to diversify and create wealth.”
Media enquiries
Jeremy Cheung +852 6131 6315 jeremy.k.y.cheung@hsbc.com.hk
Darren Lazarus +44 7984 067 235 darren.lazarus@hsbc.com
Notes to editors
About HSBC Global Entrepreneurial Wealth Report
The findings are based on extensive research conducted by Ipsos UK on behalf of HSBC among 2,939 high net worth business owners with at least USD2 million of investable assets. A third (956) were ultra high net worth with a net worth of more than USD100 million. The research was conducted online in mainland China, France, Hong Kong, India, Indonesia, Malaysia, Philippines, Saudi Arabia, Singapore, Switzerland, Taiwan, Thailand, UAE, UK and US. See the report for the full methodology.
About HSBC Private Bank
HSBC Private Bank helps clients manage, grow and preserve their wealth for generations to come. Its network of global experts helps clients access investment opportunities around the world, plan for the future with wealth and succession planning, manage their portfolio with tailored solutions, and find the right support for their philanthropy. www.privatebanking.hsbc.com
About HSBC Holdings plc
HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 57 countries and territories. With assets of USD3,214 billion at 30 June 2025, HSBC is one of the world’s largest banking and financial services organisations.