Switzerland has one of the most competitive pharmaceutical industries in the world and is home to two of the largest companies in the industry, Roche and Novartis. There are also 250,000 other pharmaceutical companies in Switzerland, and the industry employs approximately 44,000 people and represents 40% of the total value of all Swiss exports.
The three large banks in Switzerland are Credit Suisse, UBS and Julius Bär but in total there were 253 banks and 2,683 branches in Switzerland in 2017. The banking industry contributes to the Swiss economy by employing many people and offering above-average salaries. In 2017, Swiss banks employed 93,555 people in Switzerland alone. Swiss banks are also renowned for their privacy due to Swiss law and legislation and Zurich Cantonal Bank is considered one of the most secure banks in the world.
Manufacturing of clocks and watches
The watch industry is Switzerland’s third largest exporter and approximately 30 million watches are produced in Switzerland each year. Some of the most valuable watches in the world are produced in Switzerland as approximately 95% of watches worth over 1,000 USD are manufactured here. Swiss watches are renowned for their excellent quality and the most accurate watch in Switzerland is atomic which works by measuring particles.
The average annual consumption of chocolate is 11-12 kilograms per person in Switzerland therefore it is certainly a chocolate-loving nation. Switzerland was also one of the first countries to produce chocolate and Swiss Chocolatier, Daniel Peter, was the first to add milk to chocolate in 1876. Around 180,000 tons of chocolate are produced in Switzerland each year creating an annual revenue of approximately 1.5 billion Swiss Francs.
Over 137 million patients are treated by Roche medicines and it has been voted as the most sustainable healthcare company for 9 years running.
This is one of the world’s top investors in research and development in medicine.
Credit Suisse group is a financial services and investment banking company based in Switzerland.
One of the most famous watch companies in the world, Rolex produces around 80,000 watches every year.