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navigating the future of banking stability innovation and regulation in focus

In 2024, the financial center must prioritize stability, innovation, and regulation, akin to the competitive spirit of the America's Cup. Despite the turmoil from Credit Suisse's collapse, Swiss banks are adapting and thriving, leveraging a diversified approach to navigate economic challenges. Looking ahead, banks must control costs and understand new technologies to remain competitive, while the potential for Bitcoin to exceed $200,000 remains a topic of interest.

financial sector outperforms tourism as key driver of swiss economy

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.
07:00 28.11.2024

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