A recent KPMG study entitled “Clarity on Swiss Taxes, Securing Switzerland’s attractiveness as a business location” provides an interesting key for assessing the factors that could lead to a less painful exit from the crisis in Switzerland and Geneva.

Resilience and stability

KPMG emphasizes resilience in the face of global changes (climate, migration, health), the capacity of governments to manage crises, political and fiscal stability, and the quality of infrastructure (transport, communication and energy).

The management of the Covid-19 pandemic demonstrated that Switzerland, the Federal Council, the Parliament and the Cantons have been able to face this crisis and take the necessary measures until now.

On the more specific issue of the financial center, the SNB believes that, overall, Swiss banks are in a good position to overcome the current difficulties. They have a solid capital base, which enables them to manage the increased risks resulting from the economic collapse caused by the pandemic. The rating agency Standard & Poor’s comes to the same conclusion.

Competitiveness and innovation

It is therefore not surprising that many studies rank Switzerland among the most competitive countries in the world.  In the most recent of these, the IMD Word Competitiveness Ranking 2020 of June 2020, our country is ranked 3rd in the world competitiveness ranking.

Switzerland’s very high capacity for innovation and its attractiveness for talent are also highlighted.

With specific reference to innovation in the financial sector, the SNB notes in its “Survey on Digitization and Fintech in Swiss Banks 2019” that the banks see digitization primarily as an opportunity to reduce costs and increase service quality.

Solid Asset

The elements listed above combine to form a balanced framework in Switzerland and Geneva, conducive to business development. The resilience demonstrated by our country and its Financial Place in the face of the Covid-19 pandemic contributes to this favorable positioning.

In Geneva, these factors have led several institutions to invest massively in ambitious projects designed to house the bank of the future.  This is proof of confidence in our solidity and attractiveness in intercantonal and international comparison.

Source : Genève-finance

This is not in any case a call for the investment