(MENAFN- Swissinfo) While investments by foreign companies in Europe declined last year, significantly more was invested in Switzerland than in 2022.
This content was published on May 2, 2024 - 11:39 2 minutes Keystone-SDA
The number of foreign investment projects across Europe fell by 4%, while in Switzerland it increased by over 50% to 89 projects, consulting firm EY said on Thursday.
The number of new jobs created by such foreign investments in the Alpine nation increased more than fivefold year-on-year to 1,781.
In terms of the number of new investment projects in Europe, the country ranking is led by France and the UK, with Germany as the largest single economy in Europe in third place. Switzerland is 12th. US companies were the biggest source of invesment.
Attractive business location
Switzerland remains a very attractive location as a gateway to the European market, said EY. It also has a tax system favourable to companies and individuals. An initiative to introduce minimum taxation rules has at least not had a strong impact on Switzerland's attractiveness as a business location, the consulting firm added.
+ In 2023, Swiss voters backed a minimum tax on multinational profits
When taking into account investments made by Swiss companies in other European countries, Switzerland emerges as an even bigger player. With more than 12,000 newly created jobs, Switzerland ranks seventh among foreign investors in Europe, with the biggest share of Swiss company money flowing into Germany.
Adapted from German by DeepL/kp
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