Highest-turnover multinationals are mostly foreign-owned

23 November 2023 13:41

Neuchâtel - The majority of the highest turnover corporate groups in Switzerland are foreign-owned, according to a survey by the Federal Statistical Office. However, Swiss multinationals have a greater influence on the labor market. Overall, the importance of multinationals has increased in recent years.

In 2021, corporate groups in Switzerland generated a total turnover of 2,500 billion Swiss francs, according to a survey by the Federal Statistical Office (FSO). At 1,628 billion francs, the majority was generated by foreign multinationals. Swiss multinationals contributed just a third of the total turnover. However, 89 per cent of the total turnover attributed to foreign multinationals came from only 224 corporate groups, which corresponds to less than two per cent of all multinationals active in Switzerland.

Meanwhile, domestically controlled corporate groups are more important for the labor market. According to the FSO, the most recent statistics put their number at 18,312 companies with 552,524 employees. This equates to domestic multinationals employing more than twice as many people in Switzerland as foreign-controlled groups.

Between 2014 and 2021, the relative importance of corporate groups in Switzerland increased slightly, writes the FSO. At the end of 2022, a total of 61,870 companies in Switzerland were part of a corporate group. Together, they employed over two million people, which corresponds to more than 40 per cent of the total number of employees in the market economy sector.

The three most important countries of domicile for branches of foreign multinational groups operating in Switzerland remained unchanged between 2014 and 2022. Germany is top of the list, followed by the USA and France. The importance of Chinese-controlled companies for the Swiss labor market increased significantly between 2014 and 2021. ce/ssp

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