Switzerland’s financial sector is losing importance as a share of gross domestic product (GDP). In 2018, it represented 9.1% (CHF62.8 billion), down from 11.1% (CHF67 billion) ten years earlier.
This figure is based on a report published on Monday by the State Secretariat for International Financial MattersExternal link (SIF), which also shows that the number of jobs in the financial sector fell from 211,939 to 204,265 in the period under review. The proportion of finance sector employees in the total workforce fell from 5.9 to 5.2% in the past ten years.
However, the financial sector continues to be an important source of public revenue. In 2016, the tax revenue paid by companies and employees amounted to CHF6.5 billion (7.5% of the total), compared to CHF5.8 billion in 2012.
More
More
IMF predicts Swiss growth to slow to 1.1% in 2019
This content was published on
The Swiss economy is likely to slow in 2019 followed by a “moderate” recovery in 2020, the International Monetary Fund (IMF) says.
Have you heard something about Swiss diplomacy that you’d like us to fact check?
Not all information circulating about Switzerland’s foreign relations is accurate or well understood. Tell us what you'd like us to fact check or clarify.
WEF: Trump to speak virtually, Zelensky to appear in person
This content was published on
US President-elect Donald Trump will attend this year's annual meeting of the World Economic Forum (WEF) in Davos via video conference. He is scheduled to speak on January 23.
Coop washes its hands of The Body Shop in Switzerland
This content was published on
The Body Shop is facing closure in Switzerland. Retailer Coop is no longer extending the franchise agreement for its cosmetics subsidiary.
Three out of ten Ukrainian refugees in Switzerland have a job
This content was published on
More and more refugees from Ukraine have a job in Switzerland. The employment rate of people with protection status S was just under 30% at the end of 2024.
Swiss private companies invest CHF18 billion in research
This content was published on
In 2023, private companies in Switzerland spent CHF18 billion ($19.7 billion) on their own research and development. This is CHF1.2 billion more than in 2021.
This content was published on
Lindt & Sprüngli grew strongly in 2024. The Swiss chocolate manufacturer is also aiming for above-average growth in the current financial year.
‘Surprisingly few’ signatures invalid for ban on animal testing
This content was published on
The initiative to ban animal testing was submitted in November with around 127,600 signatures. "Surprisingly few" signatures are not valid, the initiative's organisers have now said.
Geneva hosts Iran nuclear talks before return of Trump
This content was published on
Iran and the main European powers began two days of talks in Geneva on Iran's nuclear programme on Monday, a week ahead of Donald Trump's inauguration as US president.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
‘Crypto Nation’ Switzerland flexes muscles
This content was published on
Swiss blockchain movers and shakers celebrate the milestones achieved so far but recognise that work still needs to be done to iron out kinks.
Swiss venture capital breaks CHF1bn barrier for first time
This content was published on
Swiss start-up companies have long complained of a venture capital drought. But investments broke CHF1 billion for the first time in 2018.
This content was published on
Switzerland is a particularly interesting laboratory because each of its local governments imposes its own rate of wealth tax.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.