Entrepreneurs Strengthen Wealth Corridors as Globalization Enters New Phase

Technological advancements, business opportunities, consumer trends and artificial intelligence (AI) are the top reasons for business optimism in the U.S.

Entrepreneurs are seizing global opportunities and leveraging international wealth corridors as globalization 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 globally: 59% are diversifying wealth internationally; 57% are considering a personal move abroad; and 49% are planning 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. Globally, Singapore ranks top as the preferred location to move personal wealth (15%), followed by the UK (11%), Switzerland (11%), and the U.S. (9%). In the U.S., there is a strong connectivity with Europe and neighboring countries, with top choices for moving wealth being the UK (11%), Canada (8%) and Switzerland (6%).

Despite market volatility and geopolitical uncertainty, most business owners globally (94%) are positive about their business prospects and expect their personal wealth (90%) to grow in the future. Technology is a key driver for their optimism – 62% 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 the following global key findings:

  • Volatility in financial markets is the top concern among entrepreneurs in relation to their personal wealth (40%) followed by inflation (36%).

  • Entrepreneurs are prioritizing spending their wealth on cars (58%), luxury goods (53%), property (53%), and health and wellness (50%).

  • Although 78% say they have a clear business succession plan, 51% worry about business continuity if they are not around.

  • 40% of ex-entrepreneurs passed their business on to family, while 20% sold, 17% transferred to non-family members, and 14% closed it down.

  • Entrepreneurs are as likely to own private assets as listed equities (46% each), though ownership of private assets varies widely by market.

"Despite all the uncertainty impacting businesses around the world, our research shows that entrepreneurs believe their best days are ahead, buoyed by new technology and artificial intelligence, that will bring about exciting advancements in their respective sectors," said U.S. Head of International Wealth and Premier Banking Racquel Oden. "Entrepreneurs continue to lean into key corridors to build wealth and grow their businesses."

HSBC Private Bank helps clients manage, grow and preserve their wealth through a network of global experts that help clients access investment opportunities around the world. To learn more, visit privatebanking.hsbc.com .

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 US$2m of investable assets. A third (956) were ultra high net worth with a net worth of more than US$100m. The research was conducted online in mainland China, France, Hong Kong, India, Indonesia, Malaysia, Philippines, Singapore, Switzerland, Taiwan, Thailand, Saudi Arabia, UAE, UK and US. Fieldwork was conducted between 19th April and 21st May 2025. See the report for the full methodology.

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 US$3,214bn at 30 June 2025, HSBC is one of the world's largest banking and financial services organizations.

About HSBC Bank USA
HSBC Bank USA, National Association (HSBC Bank USA, N.A.) serves customers through International Wealth and Premier Banking (IWPB) and Corporate and Institutional Banking (CIB). Deposit products are offered by HSBC Bank USA, N.A., Member FDIC. It operates Wealth Centers in: California; Washington, D.C.; Florida; New Jersey; New York; Virginia; and Washington. HSBC Bank USA, N.A. is the principal subsidiary of HSBC USA Inc., a wholly owned subsidiary of HSBC North America Holdings Inc. HSBC Innovation Banking in the U.S. is a business division with services provided in the United States by HSBC Bank USA, N.A.

For more information, visit: HSBC in the USA .

Media Inquiries

Matt Kozar
U.S. Head of Wealth Communications
matt.kozar@us.hsbc.com

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