The Swiss voice in the world since 1935

Switzerland’s financial sector losing importance

Paradeplatz in Zurich
View of Paradeplatz in Zurich, Switzerland's largest financial centre. © Keystone / Gaetan Bally

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

Popular Stories

News

Safra Sarasin and a former asset manager sentenced

More

Swiss Politics

Safra Sarasin private bank and former asset manager sentenced

This content was published on The Office of the Attorney General of Switzerland has fined private bank J. Safra Sarasin CHF3.5 million for aggravated money laundering. A former bank employee received a six-month suspended prison sentence.

Read more: Safra Sarasin private bank and former asset manager sentenced
1MDB affair: JPMorgan to pay CHF 270 million

More

Swiss Politics

JPMorgan to pay CHF270 million to settle 1MDB claims

This content was published on JPMorgan Chase has agreed to pay CHF270 million to the Malaysian government to settle all issues related to its role in the 1MDB financial scandal.

Read more: JPMorgan to pay CHF270 million to settle 1MDB claims
Philippe Lazzarini has overseen UNRWA since 2020.

More

Foreign Affairs

UNRWA boss Lazzarini to step down in March 2026

This content was published on Philippe Lazzarini will step down as head of the United Nations Relief and Works Agency for Palestinian Refugees (UNRWA) at the end of his term in March, he announced on Thursday.

Read more: UNRWA boss Lazzarini to step down in March 2026
Gösgen NPP outage darkens profit prospects for Axpo and Alpiq

More

Swiss Politics

Outage extended at Swiss nuclear plant

This content was published on The Gösgen nuclear power plant in northwestern Switzerland will be out of service for six months. It has not been connected to the grid since late May.

Read more: Outage extended at Swiss nuclear plant

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