The Swiss financial centre in figures
In its flyer “The Swiss financial centre in figures”, the Swiss Bankers Association (SBA) offers an overview of the Swiss financial centre’s scope and importance. Key figures such as gross value added and employment are presented in a compact, easy-to-read format.
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The SBA’s Chief Economist Martin Hess stresses the important role the banking industry plays in the Swiss economy with the aid of the latest figures:
“The approximately 160,000 full-time equivalents employed in banking generate gross value added of some CHF 43 billion annually. This equates to around 5.5% of the country’s total economic output.”
He highlights indirect effects to demonstrate the wide-ranging influence banking has on the overall job market as well as on other sectors of the economy: “Banks indirectly generate high gross value added in other sectors by buying in upstream products and services, supporting a further 170,000 full-time equivalents.”
Hess notes in particular the contribution banking makes to public finances: “The wide range of activities connected to banking services provides the government with revenues of around CHF 8.5 billion, representing just over 5% of total federal, cantonal and communal tax revenues. Added to this are financial market taxes in a similar amount.”
The financial centre flyer is published annually and aimed at interested readers in politics, the media and the general public.