Switzerland has one of the most stable, powerful and modern capitalist economies in the world, [30] ranked in the top ten according to the 2009 Index of Economic Freedom. Switzerland’s nominal GDP per capita is higher than that of most countries. European economies, second only to Luxembourg, Norway, Qatar, Iceland and Ireland. The official currency of the country is the Swiss franc (CHF).
Switzerland’s purchasing power parity index (PPP) is among the top fifteen in the world. The World Economic Forum’s competitiveness report places Switzerland’s economy as the second most competitive in the world. For much of the 20th century, Switzerland was the richest country in Europe by a considerable margin. [30]
As a country located in Europe according to NEOVIDEOGAMES, Switzerland is home to some of the largest multinational corporations in the world. The largest companies in Switzerland are Glencore, Nestlé, Novartis, Hoffmann-La Roche, ABB and Adecco. Also noteworthy are UBS AG, Zurich Financial Services, Credit Suisse Group, Swiss Re and the watch groups Swatch and Richemont.
Among the most important economic activities in Switzerland are the chemical industry, the pharmaceutical industry, the manufacture of musical and measuring instruments, real estate, financial services and tourism. The country’s main exports are chemical products (34% of exported goods), electronic machinery (20.9%), and precision instruments and watches (16.9%). [31] Exported services account for one third of exported goods. [31]
The economically active population reaches 3.8 million people. Switzerland has a more flexible labor market than neighboring countries and the unemployment rate remains low. However, the unemployment rate increased from 1.7% in June 2000 to 3.9% in September 2004. In April 2009 the unemployment rate had fallen to 3.4%, in part due to the rise in employment. economy that started in mid-2003. [31]
The private sector in the Swiss economy is huge, plus the country has low tax rates by Western standards; being one of the lowest in developed countries. Switzerland’s slow economic growth in the 1990s and early 2000s brought with it a series of economic reforms to suit the European Union model. [32] According to Credit Suisse, only 37% of the country’s residents own their own home, one of the lowest rates in all of Europe. The increase in food and real estate prices was 145 and 171% in 2007, while in Germany they were 104 and 113%. [31] The protectionism Agriculture, a rare exception to Swiss free trade policy, contributes to rising food prices. According to the OECD, market liberalization is holding back some European economies like Switzerland. [32] However, the Swiss PPP is one of the highest in the world. [33] Apart from agriculture, trade and economic barriers between the European Union and Switzerland are minimal and the country has signed multiple free trade agreements with other countries around the world.
Infrastructures and environment
The electricity generated in Switzerland comes 56% from hydroelectric plants, 34% from nuclear plants and 5% from thermal plants and other conventional fuels such as coal. [3. 4]
On May 18, 2003, two anti-nuclear initiatives were rejected: “Moratorium Plus”, which called for the cessation of the construction of new nuclear power plants (41.6% in favor and 58.4% against), [35] and “Electricity Without Nuclear Energy” (33.7% in favor and 66.3% against). The old moratorium of ten years for the construction of new nuclear power plants was the result of a citizens’ initiative of 1990, in which the yes won with 54.5% of the votes, against the no that obtained 45.5%. The Swiss Federal Office for Energy (SFOE) is responsible for answering and attending to all complaints and doubts about the supply and use of energy, together with the Federal Department of the Environment, Transport, Energy and Communications (DETEC). These agencies support the ” 2000 Watt Partnership ” concept to cut the nation’s energy consumption by more than half by 2050.
The administration of Swiss roads is financed through toll booths and vehicle taxes. The Swiss motorway system requires the payment of a toll, worth CHF 40, for one year, for both passenger and cargo vehicles. The Swiss road network has a length of 1,638 km (2000) and an area of approximately 41,290 km², which makes Switzerland one of the countries with the largest number of motorways in proportion to its size. The largest airport in the country is Zurich International Airport, through which more than 20.7 million passengers passed in 2007. This is followed by Geneva International Airport with 10.8 million passengers and the Basel-Mulhouse Airport with 4.3 million passengers, both airports are shared with France.
The railway network has 5,063 km, transporting more than 350 million passengers annually. [36] In 2007, each Swiss citizen had traveled an average of 2,103 km by train. The rail network is mainly managed by the SBB-CFF-FFS, except in much of Graubünden, where the 366 km of narrow tracks are operated by the Rhaetian Railway, which includes some lines that are World Heritage Sites. Tunneling through the Alps has reduced travel times between north and south.
Switzerland is highly active in terms of recycling and anti-pollution regulations, being one of the largest recyclers in the world, with a use of recyclable materials that ranges from 66% to 96%. [37] In many places in Switzerland, garbage collection in neighborhoods is not free. Trash (except hazardous materials, batteries, etc.) is collected only if it is in bags with a sticker showing payment, or in official bags delivered when depositing the payment for the service. [38] This provides an economic incentive to recycle, as recycling is free. Health officials and the police check the garbage dumps to look for those bags where the payment of the service is not verified as well as old bills and receipts that can give a clue to where those bags come from. Fines for not paying for the garbage collection system range from CHF 200 to CHF 500.
Its economy has benefited from the fact that overthrown Third World dictators in their countries have deposited money embezzled during their governments in Swiss financial institutions.