Productive and innovative
The Swiss economy has a reputation for being incredibly competitive and innovative, and its international figurehead is the financial centre of Zurich.
According to the 2007/08 Global Competitiveness Report by the World Economic Forum (WEF), Switzerland is the second most competitive country in the world after the USA. Switzerland also has top ranking for worker productivity.
Global financial centre
Zurich's most important economic branch is the financial sector. Swiss banks manage about a third of the world’s cross-border invested assets, and over a third of Swiss banks have their registered offices in Zurich's economic area. The city is also the third largest insurance market in the world, and this enormous financial sector strength is of fundamental importance for Zurich. Around 40% of the city's economic potential comes from its financial sector, with the banks being significant employers and generating work for service companies.