UBS Outlook Switzerland: Switzerland – a world leader in location competitiveness
Switzerland is rightly one of the world’s most attractive locations for companies: This is the conclusion reached by UBS in the latest issue of UBS Outlook Switzerland. The publication examines Switzerland’s competitiveness from various perspectives.
Zurich/Basel, 18 April 2013 – UBS dedicates its latest issue of UBS Outlook Switzerland to the special theme of Switzerland’s competitiveness as an economic location. The authors examine this competitiveness at a company, industry, cantonal and country level. UBS concludes that Switzerland is extremely competitive because it encourages competition among the cantons and municipalities and, thanks to federal and directly democratic institutions, ensures that competition has a bearing on politics as well. "Switzerland is particularly remarkable thanks to its high level of innovation, its excellent education system and its dependable institutions, and is rightly considered one of the most attractive economic locations in the world. These success factors must also be ensured in the future," Lukas Gähwiler, CEO UBS Switzerland, states at a media event in Zurich.
The high level of competitiveness is also one reason why Switzerland's economy has been developing better than that of the Eurozone for many years. Over the last nine years, the Swiss economy has grown by an average of 1.1% more than that of the Eurozone. While the Eurozone’s economy is likely to contract this year, UBS economists believe Switzerland will experience modest growth of 0.9%. Sustained immigration makes an essential contribution to this.
Although industry is continuing to struggle – more than the services sector – with economic difficulties, a brighter light is appearing at the end of the tunnel. The watchmaking industry, pharmaceuticals and precision instrument manufacturing are all very successful, and UBS analysts believe Switzerland has the greatest competitive advantages in all three industries. The service industries also remain relatively unscathed by the unfavorable international economic environment, with most companies claiming business is good.
In addition to analyses of the property and financial markets, the supplement provided with UBS Outlook Switzerland includes an assessment by UBS analysts of the Swiss equity and bond markets.
In developing the UBS CIO WM Research economic forecasts, UBS CIO WM Research economists worked in collaboration with economists employed by UBS Investment Research. Forecasts and estimates are current only as of the date of this publication and may change without notice.
Daniel Kalt, UBS Chief Economist Switzerland
Phone +41 44 234 25 60, email@example.com
Caesar Lack, UBS CIO Wealth Management Research
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Sibille Duss, UBS CIO Wealth Management Research
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Stefan R. Meyer, UBS CIO Wealth Management Research
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UBS Outlook Switzerland: www.ubs.com/research
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