What Business is Booming in Switzerland?
Switzerland has been a bastion of capitalism for several decades. It is one of the most popular countries in Europe in terms of investment thanks to its business-favorable laws. Although many know Switzerland for their unique banking system which protects privacy to a high degree, it is also known for booming businesses in different industries.
What follows are five booming businesses in Switzerland. Each one is currently on the rise and with a promising future for investors.
Financial Services
A long-established financial powerhouse, Switzerland’s robust banking system offer both confidentiality and stability for investors. While traditional banking services along with asset management are quite strong, the real surge is happening in the financial or fintech sector of the economy.
Home to over 200 fintech companies, the Swiss government has actively supported financial innovation thanks to their regulatory laws or “sandboxes”. This has allowed startups to test financial products with relatively few regulations until they scale up their business model. The most successful are cryptocurrency, Robo-advisors, digital identity verification, and blockchain.
Known as Crypto Valley in the city of Zug, major blockchain companies such as Cardano and Ethereum Foundation have established headquarters. Traditional banking companies such as Sygnum Bank and Swissquote have integrated digital assets to further expand their services in this sector. And thanks to the advancement of AI along with analytics, wealth management firms can now customize their investment advice.
The combination of long-term stability, data protection laws, and unsurpassed integrity have attracted global fintech firms, entrepreneurs, and investors from around the world.
Life Sciences & Biotechnology
A global leader in the pharmaceutical and biotech industries, Switzerland offers government incentives, strong protection for intellectual property, and advanced institutes of research that has created a boom in the life sciences and biotech field.
Over the past few years, the biotech industry has demonstrated double-digit growth in both revenue and employment. Some of the highest investments in research and development in Europe have been directed towards life sciences in Switzerland. The growth was accelerated in 2020 with the COVID-19 pandemic as more companies developed diagnostic tools, treatments, and vaccines during this time.
Based in Basel, Switzerland are Novartis and Roche, two of the largest pharmaceutical companies in the world. Startups such as Molecular Partners, which focuses on protein-based therapies, and AC Immune, which addresses neurodegenerative diseases are based in Switzerland and are drawing considerable attention.
With trends going towards gene therapy, digital health solutions, and personalized medicine, Swiss companies in the forefront. Collaborating with international research centers and universities, the market is growing strongly in Switzerland for biotech and life sciences.
Green Technology
Switzerland is one of the leading countries in the sector of green technology, taking seriously the business and sustainability aspects of this growing industry. From sustainable agriculture, proper waste management, and developing renewable energy, green technology is a booming business in the country.
The commitment to green energy starts with the Swiss government which has committed itself to net-zero emissions by 2050. This has pushed industries to develop solutions as consumers are highly conscious of the environment in Switzerland. With green products and services enjoying increasing demand, there are plenty of financial incentives, research grants, and other subsidies available for green-oriented businesses.
Today, Swiss firms are developing solar panels and hydroelectric systems with a push towards recycling technology and biodegradable materials. Companies such as Climeworks are one of the leading carbon-capture technology businesses in Switzerland. The push towards green technology is only growing in the country, leading to more business opportunities in this sector.
Cybersecurity & Information Technology
Information Technology (IT) and cybersecurity have grown around the world, but in Switzerland the pace of growth has accelerated thanks to a greater demand by business and government to incorporate digital infrastructure and securing data.
Switzerland is one of the leading countries in digital readiness and internet penetration which encourages growth in this sector. With the rise of cloud computing, data-driven decision making, and remote work, the IT industry has grown considerably. Cybersecurity is essential with several Swiss firms offering strong protection against cyberattacks and data breaches.
There are currently over 120 companies in Switzerland that specialize in malware protection to securing communications. Companies such as WISeKey, NetGuardians, and Acronis have led the way with many more startups on the rise. With artificial intelligence (AI) being incorporated into predictive analytics and threat detection, the prospects are only rising in the cybersecurity and information technology industries in Switzerland.
Tourism
Although tourism along with luxury experiences has been an important part of the Swiss economy for centuries, it has taken on a new surge after the subsiding of the COVID-19 pandemic of 2020. The charming cities, breathtaking scenery, and emphasis on winter sports have bounced back considerably. With a focus on sustainability, personalized experiences, and luxury.
For high-end travelers who prefer five-star hotel accommodations, gourmet dining, and luxury train journeys, Switzerland cannot be beat. The growing demand for wellness travel and eco-tourism falls neatly into the country’s emphasis on green technology and clean, healthy environment.
The Bernina Express and Glacier Express offer scenic rail experiences second-to-none. While luxury resorts such as Gstaad, Zermatt, and St. Moritz have rebounded considerably over the past few years. Add to this new offering in sustainable lodges, culinary tours and digital nomad packages and the tourism industry is on the rise.
Thanks to investments in infrastructure, the rise of health resorts, and strong domestic travel, Switzerland is enjoying a renaissance in tourism. When combined with the rises in the financial, life sciences, green technology, and information technology industries, Switzerland has become one of the leading economies in all of Europe.
While Switzerland is enjoying a business boom in several industries, your business can improve its status as well no matter its location. All you need is access to Asknoypi to help you reach customers around the world.
Asknoypi offers business listings, press releases, jobs & events all in one place. Whether your business is in Switzerland or anywhere else, Asknoypi is the one place to find what you need and have others discover your products or services.