The financial sector in Switzerland generated nearly CHF 74 billion in gross value added in 2023, accounting for about 10% of the economy and employing 240,000 people. Despite its significance, job cuts are anticipated in banking due to the integration of Credit Suisse into UBS, while insurance and other financial services are expected to see moderate job growth. Notably, banking services led service exports, surpassing tourism, but growth is hindered by challenging EU market access.