Zurich financial center growing faster than the economy as a whole

In 2021, the Zurich financial sector was responsible for one in every ten jobs and one in every six Swiss francs in value added generated within the canton. These are findings reported by the “Zurich financial center 2023/2024” study, which was prepared by BAK Economics on behalf of the cantonal Office for Economics and Labor (AWA) and Urban Development Zurich. According to a press release issued by the AWA on the study, the Zurich financial center generates gross value added of 29.9 billion Swiss francs per year. At the same time, the cantonal financial sector employs 97,300 people in full-time positions.

In the years between 2011 and 2021, and especially during the pandemic, the real gross value added in the financial sector grew faster than that of the economy as a whole, the AWA explains. The Zurich financial center also plays a key role in the area of sustainability. According to the study findings, many financial institutions have already included sustainable products in their portfolios. In this context, the press release highlights, among other aspects, investment products with specific sustainability criteria, sustainable bonds or loans, and activities that align with the Sustainable Development Goals of the United Nations. Both the canton and city are keen to continue promoting and anchoring even more strongly the issue of sustainability in connection with the activities of the Zurich financial center in the future. hs