EY reports growth of 53 percent for investments in Switzerland

02 May 2024 14:32

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Zurich - Foreign investments in Europe fell by 4 percent in 2023. However, investments in Switzerland were up by 53 percent. These findings were reported in a study carried out by the auditing firm EY.

Switzerland has outperformed the European average in terms of investments in 2023. Foreign investments in Europe fell by 4 percent, whereas investments in Switzerland were up by 53 percent. According to a press release, these findings were reported in a study carried out by the auditing firm EY in Switzerland on investment projects implemented by foreign companies across Europe.

According to EY, a total of 5,694 investment projects across Europe were announced by foreign investors last year, which reflects a decline of 4 percent versus the previous year (5,962 projects). Investment activity was down 11 percent on the pre-pandemic year of 2019, and as much as 14 percent lower than the record year of 2017.

France retains its spot at the top of the European rankings for 2023 despite a decline in the number of investment projects of 5 percent to 1,194. Among the larger European locations, Switzerland and Turkey developed in particularly dynamic fashion last year, as EY explains further in the press release. Switzerland climbed to 12th place in the European rankings, with the number of projects rising from 58 to 89 year on year. A total of 1,781 new jobs were created in Switzerland in the previous year, which corresponds to an increase of 416 percent compared with the 345 new jobs created in 2022.

“Switzerland remains a highly attractive location as a gateway to the European market and offers very attractive location factors in combination with an attractive tax system for companies and private individuals”, comments André Bieri, Markets Leader Switzerland and Liechtenstein for EY in Switzerland, when discussing the sharp rise in investments in Switzerland. Moreover, Bieri continues, the BEPS initiative to introduce a minimum rate of taxation is not having a major impact on the attractiveness of Switzerland as an investment location. ce/gba 

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