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International > Switzerland

A very clear shift – Remaking the Swiss economy

As pharma, tech and life sciences drive a booming Swiss economy in place of its once-vaunted banks, local lawyers can’t believe their luck

Posted on 7 April 2020 09:30am6 April 2020 16:24pm
Dominic Carman
Europe

After delivering his keynote address at this year’s World Economic Forum in Davos, President Trump immediately left to catch the plane home. En route to Air Force One, every bridge crossing the highway on which his limousine passed was closed, doing everything to sweep aside potential delays to his exit. Yet despite being the world’s most expensive country to live, few locals ever choose to emigrate from Switzerland – except perhaps to retire in warmer climates.

And why would they? Swiss citizens enjoy a high living standard, low levels of inflation, unemployment and crime and enviable economic and political stability. ‘Even if the cost of living is high, the high salaries, the high quality of life, the beautiful landscape, security – all of that creates an attractive package,’ says Daniel Hochstrasser, managing partner of Bär & Karrer.

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