This article tells you about Business Leaders – Switzerland. Switzerland has one of the largest, and fastest growing, economies in the world. The country’s small size, and relatively low supply of natural resources, makes such a status an amazing achievement. The economy is largely driven by foreign direct investing, due to their favourable economic policies. The most well-known of these is strict bank secrecy, alongside great security, which has made their banks very attractive to wealthy foreign entities, living in countries whose banks do not enforce this, and are therefore seen as risky.
These investors can put significant portions of their personal wealth into these Swiss banks and know that, not only is their money safe, but that they cannot find themselves in any unforeseen trouble (such as having to pay taxes on it) since only they need know of the accounts existence – let alone how much funds it contains. This has led to a rapid influx of capital into the country which, combined with their other excellent macroeconomic policies, has resulted in steady growth, and stability.
Apart from its economic dependence on banking, and investments, industries that contribute significantly to the Swiss economy are machinery, chemicals, and precision instruments such as watches. Numerous companies, engaged in such trade have further stimulated the economy, backed by banks that utilize foreign investor funds. In this manner, Switzerland is also active in exports, strengthening its economy, even more, and providing its banks with excellent return-on-investment – the benefits of which are passed on as interest to their clients.
This type of co-relation between industries is what has made the Swiss economy so stable, and the envy of many other developed nations. It has been criticized, however, for enabling foreign citizens to evade taxes, in their own countries, by “hiding” money in Swiss bank accounts, confident in the knowledge that these funds cannot be discovered by authorities in their own jurisdiction.