High-net-worth individual wealth rises 13.6% in 2025

Capgemini said stronger stock market gains and improved economic growth supported wealth expansion.

High-net-worth individual (HNWI) financial wealth rose 13.6% in 2025, according to Capgemini’s World Wealth Report 2026 country snapshot.

HNWI financial wealth increased to $8.1t (US$1.034t) in 2025 from $7.1t (US$910.8b) in 2024.

The number of HNWIs in Hong Kong also grew 11.6% to 188,300 in 2025, from 168,700 a year earlier.

Capgemini said wealth growth was supported by stronger stock market performance, easing interest rates, stronger exports, and recovering domestic demand.

Hong Kong’s stock market capitalisation jumped 39.2% in 2025, whilst the Hang Seng Index rose 27.8%, marking its strongest annual performance since 2017.

The report attributed the gains to record inflows through Southbound Stock Connect, optimism around artificial intelligence, and easing interest rates.

Real GDP growth improved to 3.5% in 2025 from 2.5% in 2024, marking Hong Kong’s third consecutive year of expansion.

The growth was driven by exports, with total exports of goods and services rising 12% and 6.3% in real terms, respectively, over 2024.

Hong Kong’s real estate prices returned to positive growth of 0.8% in 2025, after falling 8.42% in 2024.

Full-year property transaction volume reached 62,832 in 2025, up 18.3% YoY, although persistent supply overhang continued to limit price gains.

The Hong Kong Monetary Authority cut the Base Rate by 25 basis points to 4.0% in December 2025, in line with the US Federal Reserve’s final rate cut for the year.

Hong Kong recorded a consolidated fiscal deficit of $87.2b for FY2024–25, whilst fiscal reserves fell to $647.3b.

The government launched a fiscal consolidation programme for FY2025–26 targeting a 23% reduction in the deficit to $67b, or 2% of GDP.

The unemployment rate remained broadly stable at 3.5% in December 2025.