The Swiss voice in the world since 1935
Top stories
Stay in touch with Switzerland

Switzerland continues to lure foreign companies

Google with a Swiss signpost
Switzerland would like to attract more Googles and fewer brass plate companies. © Keystone / Christian Beutler

Switzerland attracted 282 foreign firms to set up shop in the alpine state, creating 899 jobs last year, according to cantonal economic chiefs. That’s an increase of 37 companies from 2017.

Switzerland is in the throes of revamping its corporate tax system to keep it line with the competition rules of the European Union and Organisation for Economic Cooperation and Development (OECD).

Many cantons are reducing their headline tax rates to make up for having to ditch special perks for multinational companies that locate offices and subsidiaries in Switzerland.

The ongoing changes appear so far not to have put off foreign companies from coming to Switzerland. Around half of the incoming enterprises operate in the ICT and life sciences sectors, it was announced on Tuesday.

The real blip in the figures was a 42% fall in the number of jobs created last year compared to 2017.

The Swiss government says it will spend CHF373 million ($374 million) on boosting Swiss tourism, export promotion and other areas between the years 2020 and 2023. Some CHF17.6 million of this budget has been earmarked for promoting the country as an attractive location for businesses. 

Part of the plan is to attract substantial company activities and to ditch the tradition of so-called “brass plate” offices setting up in Switzerland that bring little economic benefit beyond taxes.

But the country also has a track record for reeling in meatier operations, such as Google and IBM research facilities.

In addition to competitive taxes Switzerland promotes its central European location, high quality of living, top billing in many innovation studies and a thriving higher education system that produces a stream of highly qualified workers.

This article was corrected on April 4 to clarify spending on promoting Switzerland for foreign companies.

Popular Stories

Most Discussed

News

A live scarecrow competition to thrill Denens (VD)

More

Live scarecrow competition set to thrill Swiss

This content was published on The Fête de l'Epouvantail (scarecrow festival) is celebrating its 30th anniversary and returns to Denens in canton Vaud for its seventh edition from July 10-20.

Read more: Live scarecrow competition set to thrill Swiss
Man dies in accident on toboggan run in Matten near Interlaken BE

More

Man dies on Swiss toboggan run

This content was published on A 35-year-old man has died in a work accident at the valley station of the Heimwehfluh toboggan run in Matten near Interlaken, canton Bern.

Read more: Man dies on Swiss toboggan run
The Swiss embassy in Tehran reopens

More

Swiss embassy in Tehran re-opens

This content was published on The Swiss embassy in Tehran re-opened on Sunday after being closed on June 20 owing to the unstable situation in the country.

Read more: Swiss embassy in Tehran re-opens
Queen of the Netherlands attends European Championship match in Lucerne

More

Euro 2025: Dutch queen cheers on team in Lucerne

This content was published on Queen Maxima of the Netherlands and her youngest daughter Princess Ariane attended the Netherlands' women's European Championship football match against Wales in Switzerland on Saturday.

Read more: Euro 2025: Dutch queen cheers on team in Lucerne
30-year-old charged with drone flight at Women's European Championships

More

Man charged with flying drone at women’s Euro 2025

This content was published on A man flew a drone around the venue on Wednesday evening during the first match of the Women's EURO 2025 in St. Gallen. The 30-year-old violated the absolute ban on flying during match days. He was reported to the police.

Read more: Man charged with flying drone at women’s Euro 2025
257 Swiss companies are members of the SBTi

More

More than 250 Swiss companies sign CO2 reduction initiative

This content was published on A total of 257 companies from Switzerland have signed up to the Science Based Targets Initiative (SBTi). In doing so, they are committing to CO2 reduction targets that are compatible with the Paris Climate Agreement.

Read more: More than 250 Swiss companies sign CO2 reduction initiative

In compliance with the JTI standards

More: SWI swissinfo.ch certified by the Journalism Trust Initiative

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.

SWI swissinfo.ch - a branch of Swiss Broadcasting Corporation SRG SSR

SWI swissinfo.ch - a branch of Swiss Broadcasting Corporation SRG SSR