Despite the pandemic, Switzerland is attracting companies
A total of 220 foreign companies settled in Switzerland last year. In the previous year, Switzerland had attracted 23 more companies. The number of new jobs created by the settlements rose year-on-year by 119 to 1168 jobs.
The location promotion by the federal government, regions and cantons can look back on a successful year, explains the Conference of Cantonal Economics Directors ( VDK ) in a press release . Once a year, it compiles statistics on the number of foreign companies relocating to Switzerland. According to the latest VDK survey, a total of 220 foreign companies settled in Switzerland in 2020.
Compared to the previous year, this corresponds to a decrease of 9 percent, explains the VDK in the announcement. The new settlements booked in the previous year would have created 1168 jobs but at the same time 11 percent more jobs than the settlements in the previous year. Even with the new jobs forecast for the next three years, the value of 2019 was exceeded by 21 percent with an expected 3,583 jobs.
As in the previous year, most of the settlements in the year under review came from the ICT and life sciences sectors. In terms of origin, French, American and Chinese companies in particular were drawn to Switzerland.
The national location promotion aims to advertise, above all, value-added and innovative companies, writes the VDK. The communication refers to the “successful cooperation” between the federal government, regions and cantons. In addition, the VDK emphasizes the role of the Swiss Business Hubs. These representations of the official Swiss organization for export promotion and location promotion, Switzerland Global Enterprise ( S-GE ), are active abroad as part of the Swiss embassies or consulates general.
The task of the Swiss Business Hubs is to “market Switzerland as a leading innovation and technology location” and to identify “companies with settlement potential”, explains the VDK. S-GE will present specific settlement projects to the regions and cantons, "which will then campaign for a settlement in their canton in a federal competition". Align Technology is mentioned in the announcement as an example of success. The American medtech company is run by former ABB boss Joe Hogan and relocated its European headquarters from the Netherlands to Rotkreuz ZG in the reporting year.