Background

Finance & Economy

Switzerland is a peaceful, prosperous, and stable modern market economy with low unemployment, a highly skilled labour force, and a per capita GDP larger than that of most large Western European economies. The Swiss in recent years have brought their economic practices largely into conformity with the European Union’s (EU's) to enhance their international competitiveness. Switzerland remains a safe haven for investors because of its famed degree of bank secrecy and the franc's stable long-term external value. Reflecting the weak economic conditions of Europe, GDP growth stagnated during the 2001-03 period, improved during 2004-05, and jumped to 2.9% in 2006, and 2.6% in 2007.

Switzerland continues to be one of the most attractive locations for foreign direct investment. Independent studies, published by renowned institutions worldwide, give the country consistently high marks on the criteria most important to decision-makers when looking for a place to do business. The most notable factors that position Switzerland as an advantageous European business location for high quality products and services are: legal security, long-term stable fundamentals for investors, low regulatory hurdles, guaranteed protection of property ownership, free competition, as well as the renowned reputation for banking privacy.

The Federal Department of Economic Affairs oversees all issues related to the economy.