The United States is the top destination for Swiss direct investment abroad; Switzerland is the 7th largest foreign direct investor in the U.S. Swiss firms have created half a million jobs and do business in all 50 states, representing a substantial economic presence in the United States that strengthens the American economy; The new publication Switzerland’s Economic Footprint in the United States puts it all together clearly and concisely
WASHINGTON, DC, February 21, 2017 /Marketwired/ — On Thursday, Ambassador of Switzerland Martin Dahinden spoke about Swiss direct investment and job creation in the U.S. to members of Congress and the new administration-in short, highlighting Switzerland’s strong economic footprint.
Ambassador Dahinden gave his remarks together with representatives from the Organization for International Investment (OFII) and two Swiss companies, Zurich North America and Novartis. “Our $224 billion in cumulative direct investment makes us the 7th largest investor in the U.S.,” he stated, pointing out that Switzerland punches well above its weight. “Swiss investment rivals that of other considerable foreign investors with much larger economies and populations, including Germany and France. In fact, the United States is the largest recipient of outbound Swiss investment.”
Swiss companies are active investors in the manufacturing, wholesale, retail, and service sectors of the American economy. Some 500 Swiss companies have operations in the United States. Many have multiple affiliates in numerous states, accounting for a total of some 3,500 affiliates. “Through these investments and businesses, Swiss affiliates have created and supported nearly half a million American jobs nationwide and they’re only going to continue.”
The bilateral economic relations between Switzerland and the United States are strong not only in terms of investments, but also when it comes to trade relations: while Switzerland exports goods and services valued at $52 billion to the U.S., Americans export $51 billion worth of goods and services to Switzerland. The United States is Switzerland’s second most important trading partner worldwide.
The new publication, which also provides statistics and information for each of the 50 states, is available online here.
Excerpts from the report:
Creating Jobs and Supporting the U.S. Economy
Switzerland and the United States are also tightly connected through intensive cross-border investments. The U.S. is Switzerland’s most important destination for foreign direct investment (FDI); more so than Germany, France, Italy and the UK combined.
The U.S. accounts for one fifth of the total Swiss FDI stock abroad. With over $224 billion in direct investments, Switzerland ranks as the 7th largest foreign investor in America. Not only do Swiss companies directly create nearly half a million U.S. jobs, they are also especially active in manufacturing and significantly outspend the affiliates of all other countries in research & development.
For more information on how Swiss direct investment creates jobs and supports the U.S. economy,
- Download the full report here.
- Download individual State reports further below.
- Switzerland’s cumulative direct investment in the U.S. amounts to $224 billion.
- Swiss affiliates directly support nearly half a million jobs.
- The highest number of people who work for Swiss affiliates are in California, Texas, New York and New Jersey.
- Swiss affiliates pay the highest average salary among affiliates from the seven largest investing countries in the U.S., $103,200 per year.
- Swiss affiliates outspend all other countries in R&D ($10.1 billion).
- Swiss affiliates pay the forth highest amount in income taxes among foreign affiliates in the U.S. ($4.3 billion).
Watch the short video (2014 data): Switzerland Punches Way Above its Weight in the U.S. Economy
Switzerland ranked as the most competitive economy in the world according to the Global Competitiveness Report 2016/2017. As a result, numerous North American companies use the country as a springboard to enter European markets, making Switzerland one of the largest destination for U.S. direct investment.