In-depth country-focused analysis on Switzerland's economic, political and operational risk environment, complemented by detailed sector insight

Our comprehensive assessment of Switzerland's operating environment and the outlook for its leading sectors are formed by bringing together a wealth of data on global markets that affect Switzerland, as well as the latest industry developments that could impact Switzerland's industries. This unique integrated approach has given us an impeccable track-record for predicting important shifts in the markets, ensuring you’re aware of the latest market opportunities and risks in Switzerland before your competitors.

Country Risk

Switzerland Country Risk

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2009 2010 2011 2012 2013 2014f 2015f ...

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Switzerland Industry Coverage (5)

Commercial Banking

Switzerland Commercial Banking

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Commercial Banking Sector Indicators 
Date Total assets Client loans Bond portfolio Other Liabilities and capital Capital Client deposits

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Switzerland Insurance

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BMI View: We believe that the life and non life insurance sectors in Switzerland will suffer a moderate decline in premiums over 2014 due to deflationary pressures. However growth will resume in 2017, driven by a rising emphasis on costly healthcare and an aging population on the one hand, and the booming property market and still sizeable motor vehicle fleet on the other.

Switzerland's economy continues to wrestle with deflation despite relatively sound macroeconomic fundamentals. In 2012 and 2013, Swiss consumer prices fell by 0.7% and 0.3% respectively. Assuming that international trade continues to improve and appreciatory pressures on the franc ease off,  BMI's Country Risk team holds a view that deflation will run into inflation by the end of 2016.

The expected growth of Switzerland's ageing population over the next 50 years will have an unprecedented impact on the...

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Medical Devices

Switzerland Medical Devices

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Espicom Industry View: The Swiss medical device market is expected to grow by a CAGR of 1.4 % over the 2013-2018 period, with other medical devices and orthopaedics & prosthetics expected to have the highest growth during this period. Over the last 15 years the Swiss medical technology sector has grown faster than almost any other sector in the country. Government technology development programmes, favourable tax rates, quality staff and research have all contributed.

Headline Industry Forecasts

  • In 2013, the Swiss medical device market was estimated at US$3,554.1mn, or US$440 per capita. The total market is twice the size...

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Pharmaceuticals & Healthcare

Switzerland Pharmaceuticals & Healthcare

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BMI View: Most of Switzerland's demographic and economic indicators are favourable towards increased pharmaceutical and healthcare spending. The proportion of the pensionable population is high and growing, and this will translate into greater demand for drugs. Furthermore, the country's highly developed infrastructure means that access to healthcare is easy, further supporting the consumption of medicines.

Headline Expenditure Projections

  • Pharmaceuticals: CHF7.06bn (USD7.68bn) in 2013 to CHF7.02bn (USD7.34bn) in 2014; -0.63% in local currency terms and -4.4% in US dollar terms.

  • Healthcare: CHF68.18bn (USD74.11bn) in 2013 to CHF69.45bn (USD72.61bn) in 2014; +1.9% growth in local currency terms and -2.0% in...

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Switzerland Telecommunications

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BMI View:  Switzerland's relative economic wealth has driven investment by operators in infrastructure, with the incumbent Swisscom investing in fibre and launching LTE in 2012. The competition has also been investing in LTE, with all three mobile network operators offering commercial services since June 2013. High capital expenditure into new infrastructure and increasing competition for data services will be eroding the profit margins for all main operators in short-term, but we still expect the market to expand until the end of the forecast. Meanwhile, fixed-line telephony services will continue to be displaced by more modern IP alternatives.

Key Data

  • Smartphone ownership has proliferated rapidly in Switzerland, with Orange reporting smartphone penetration reached 67% in its subscription base by the end of...

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