Switzerland’s financial sector is of significant importance to the national economy, employing about 5% of the total workforce and accounting for 9% of economic output. The financial sector ensures that the Swiss economy is never short of the necessary capital or financial services. Switzerland is also one of the most efficiently regulated and supervised financial centres in the world. Switzerland works closely with other countries to actively combat organised crime, terrorism and cross-border tax evasion. Switzerland introduced the automatic exchange of information (AEOI) with a range of jurisdictions, including the UK, in 2018.
The financial centre and the economy