The future of the Geneva financial center depends on its ability to remain attractive to clients and talent, develop competitive framework conditions, and persuade the federal and cantonal authorities to support these goals.
Legal uncertainty is a powerful brake on the development of the Geneva financial center. Jobs, and the prosperity of the Geneva economy, are at stake.
Every six months since 2007, a British think tank publishes a ranking of the world’s main international financial centers. The Geneva financial center played its cards well, retaining its 13th place overall and coming third in Europe, after London and Zurich. It is now classified among the “dynamic” centers. Moreover, it is no longer considered a “global specialist” but an “established transnational center”.
Geneva must not rest on its laurels.
The economic survey indicates that the business environment has deteriorated over the past year. Many other studies and publications in recent weeks confirmed this observation. Geneva, and Switzerland as a whole, will need to take the right decisions if they want to maintain the value chain that underpins its financial center.
The competitiveness of the Geneva financial center depends on its ability to attract and retain talented professionals, its favourable fiscal environment and its leading-edge infrastructure.
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