Economic Overview & Business Opportunities
Located at the central part of the continent, Switzerland is a landlocked European country bordered by Italy, Germany, France, Liechtenstein, and Austria. Home to a population at approximately 8 million, Switzerland has a strategic location at the crossroads of central Europe.
Switzerland’s economy is one of the world’s most stable economies due to its long-term monetary security and political stability. Many view Switzerland as a safe haven for investors, creating a steady tide of foreign investment. World Economic Forum’s (WEF) 2015-16 Global Competitiveness Index, Switzerland is the world’s most competitive economy for the seventh consecutive year. Furthermore, Switzerland is always regarded as one of the best locations for innovation as it offers descent business environment, good financial framework conditions, and the highest standard of life. Though Switzerland is not a member of the EU, its strategic location has further cemented its position as the ideal revenue to traipse the European markets. Switzerland is a member of the European Free Trade Association (EFTA). As of now, Switzerland has network of 28 free trade agreements with 38 partners outside the EU, including with China.
Switzerland is a significant centre for United Nations (UN) organisations where are 24 of them headquartered in Geneva. Switzerland is one of the global leaders in the pharmaceutical and biotech industries. In addition, Switzerland is the world’s renowned financial centre with two main clusters. Among them, Zurich is the main centre for retail banking and insurance while Geneva is the centre of private banking and wealth management. There are 275 banks in Switzerland that have generated turnover of billion and employment opportunities. In other words, Switzerland is one of the world’s major financial centres.
Switzerland is a major hub for bankers and other travellers in the financial sectors with Zurich and Geneva playing the key roles in attracting foreign investments. If you are thinking of exploring different market to enter European markets or to expand your business profile globally, Switzerland has lots to offer.
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Director Geneva Branch – Swiss Certified Expert for Account and Controlling
Founder & CEO – Swiss Certified Expert for Account and Controlling