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Welcome to the Zurich Financial Center
In the Zurich area, 75’000 people work for banks, insurance companies and
other financial institutions. The financial industry as a whole employs more
than 10% of the entire workforce in the Canton of Zurich, compared to the
Swiss average of 5%. In 2000 the financial industry accounted for around CHF
25 billion of the gross domestic product of the Canton of Zurich, which
corresponds to almost 30%. For Switzerland as a whole, the contribution of
the financial sector is 16%.
International comparisons show that Zurich, as a financial center, has
relatively higher significance in terms of employment and real net output
than the financial centers of New York, London, Frankfurt and Paris for
their regions. The outstanding importance of the city as a financial center
gives a considerable boost to Zurich's economy as a whole. Public finances
also benefit from this, by profiting from tax revenue generated by the
financial industry.
A factor that has traditionally been one of Zurich's strengths is the
quality of its infrastructure – including its international transport
connections. A highly qualified workforce and the educational opportunities
are further background factors contributing to the successful financial
center.
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