About
SWITZERLAND
Switzerland
offshore banks
Private
banks
Switzerland's independence and neutrality have long been honored by the
major European powers and Switzerland was not involved in either of the
two World Wars. The political and economic integration of Europe over
the past half century, as well as Switzerland's role in many UN and international
organizations, may be rendering obsolete the country's concern for neutrality.
Switzerland is one of the richest countries in the world by per capita
gross domestic product. Zürich and Geneva have respectively been
ranked as having the first and second highest quality of life in the world.
The country hosts many international organizations, including the Red
Cross, the World Trade Organization and one of the U.N.'s two European
offices. However, it is not a member of the European Union. Switzerland
is multilingual and has four national languages: German, French, Italian
and Romansh.
Economy
Switzerland has a stable, modern, and one of the most capitalist economies
in the world. It has the 2nd highest European rating after Ireland in
the Index of Economic Freedom 2008, while also providing large coverage
through public services.
The nominal per capita GDP is higher than those of the larger western
European economies and Japan, ranking 6th behind Luxembourg, Norway, Qatar,
Iceland and Ireland.
If adjusted for purchasing power parity it ranks 15th. The World Economic
Forum's Global Competitiveness Report currently ranks Switzerland's economy
as the second most competitive in the world.
For much of the 20th century, Switzerland was the wealthiest country in
Europe by a considerable margin. In 2005 the median household income in
Switzerland was an estimated 95,000 CHF, the equivalent of roughly 81,000
USD (as of Nov. 2008) in purchasing power parity, which is similar to
wealthy American states like California and Vermont.
Switzerland is still considered a safe haven for investors, because it
has maintained a degree of bank secrecy and has kept up the franc's long-term
external value.
GDP
- purchasing power parity - $313.173 billion (2008 est)
GDP - per capita:$42,840
(2008)
