What does it mean that multinationals generate 42% of Swiss GDP?

Although multinationals represent only 6% of companies in Switzerland, their size and productivity are so high that they generate 42% of the total wealth measured by GDP. This means that losing competitiveness in this segment would have a disproportionately large impact on the national economy. Since 2014, multinationals have been responsible for three-quarters of Switzerland's nominal economic growth.

What role does the OECD minimum tax play in the loss of attractiveness?

The OECD global minimum tax is perceived by 65% of CEOs surveyed as a competitive burden. Switzerland will have to implement this minimum tax according to international directives. Managers fear that without clear communication and predictable implementation, Switzerland will further lose appeal compared to competing jurisdictions.

What are the timeframes for work permits that CEOs are concerned about?

70% of respondents complain about the lengthening of approval procedures for investments and work permits for foreign talent. The report does not specify the exact current times, but the main criticism is that bureaucracy slows down the ability of multinationals to attract international executives and specialists quickly.

How does infrastructure affect economic competitiveness?

60% of CEOs report bottlenecks in infrastructure, covering transport, energy and telecommunications. If a multinational company cannot rely on roads, reliable energy and digital connectivity, Switzerland becomes less competitive than countries with more modern or efficient infrastructures.

Switzerland less attractive to multinationals: McKinsey alarm (cross-border guide)

Di Redazione Frontaliere Ticino · Published on 2 September 2026

Urban skyline of a Swiss city with modern office buildings representing Switzerland's economic competitiveness.

70% of CEOs warn that Switzerland is losing competitiveness. Criticisms of lengthy procedures, OECD tax and poor infrastructure threaten foreign investment.

Context

In brief

70% of CEOs believe Switzerland is losing international appeal
Main criticisms: lengthy procedures (70%), OECD minimum tax (65%), inadequate infrastructure (60%)
Multinationals generate 42% of Swiss GDP, despite being 6% of businesses

Key facts

What: Study on Switzerland's loss of appeal for multinationals
When: Published today
Who: McKinsey and Swiss-American Chamber of Commerce
Amount: 70% CEOs convinced of the loss; 42% GDP from multinationals; 6% multinational businesses
Criticisms: Procedures (+70%), OECD tax (+65%), infrastructure (+60%)

Seven out of ten business leaders are convinced that the Swiss economic hub is losing its advantages compared to international competition. The alarm was sounded by a study published by the consulting firm McKinsey and the Swiss-American Chamber of Commerce. According to the report, the Confederation remains the leading European hub for research and development but attracts fewer global company headquarters and fewer international executives than in the past. 70% of the CEOs surveyed believe that Switzerland is taking steps backward regarding its international appeal.

Main criticisms

Three specific areas concentrate managerial complaints. The lengthening of approval procedures for investment projects and work permits for foreign talent was reported by 70% of respondents. The introduction of the OECD minimum tax concerns 65%, while infrastructure bottlenecks are highlighted by 60%.

According to the managers interviewed, geopolitical tensions, new trade barriers, uncertainty in relations with the European Union, and the strength of the franc also weigh on perception.

…

Operational details

What does this loss mean for those working in Switzerland?

Implications for economic growth

The contraction of attractiveness mentioned by McKinsey is not purely a statistical phenomenon. Since 2014, multinational companies have generated three-quarters of Switzerland's nominal economic growth. If this positive dynamic were to reverse, overall investments, salary opportunities, and direct and indirect jobs would slow down. This is not a remote risk: the report explicitly states that the Confederation is already attracting fewer global company headquarters and fewer international executives than in the past.

The three knots to untie

Three specific factors require urgent intervention, according to the opinion of CEOs. Approval procedures for investments and work permits have become slower—a critical issue highlighted by 70% of respondents. The imposition of the OECD minimum tax was perceived as a competitive burden by 65% of managers. And infrastructure, from energy to transportation, shows structural bottlenecks (noted by 60%).

Discover how to monitor job opportunities in Switzerland.

Balance between regulation and competitiveness

A critical point of the McKinsey report: a strong economic hub is not built through wild deregulation. It requires "efficient, proportionate, and predictable framework conditions that allow for innovation, investment, and growth." This means that Switzerland does not have to choose between regulatory rigor and attractiveness but must find a balance that allows international businesses to operate with legal certainty and administrative speed.

…

Key points

How to reverse the trend: the five-axis plan

The pillars of the strategy according to McKinsey

The report identifies five priority areas to preserve the country's attractiveness in the long term, and their implementation will require coordination between the Confederation and the cantons. The first is to ensure access to international talent, accelerating work permits and making the country attractive to foreign professionals. The second is to streamline regulatory procedures, reducing authorization times for projects and investments. The third is to build fiscal predictability, clearly communicating how Switzerland will implement the OECD minimum tax and avoiding tax surprises. The fourth is to invest in infrastructure, especially in mobility, energy, and telecommunications. The fifth is to define a coherent strategic positioning towards the European Union, the United States, and Asia.

Who decides what: the distribution of responsibilities

The responsibility for reversing the trend is distributed among multiple levels of government. The procedures for granting work permits (category L for short-term, B for residence, C for domicile, G for cross-border commuters) depend on the State Secretariat for Migration (SEM) and the cantonal authorities. The implementation of the OECD minimum tax is a federal competence, following international directives. Infrastructure involves both the Confederation and the cantons. Strategic coherence towards the United States, the European Union, and Asia is the responsibility of the Federal Department of Foreign Affairs. There is no single "lever" to pull: effective coordination between levels is needed.

…

Frequently Asked Questions

What does it mean that multinationals generate 42% of Swiss GDP?: Although multinationals represent only 6% of companies in Switzerland, their size and productivity are so high that they generate 42% of the total wealth measured by GDP. This means that losing competitiveness in this segment would have a disproportionately large impact on the national economy. Since 2014, multinationals have been responsible for three-quarters of Switzerland's nominal economic growth.
What role does the OECD minimum tax play in the loss of attractiveness?: The OECD global minimum tax is perceived by 65% of CEOs surveyed as a competitive burden. Switzerland will have to implement this minimum tax according to international directives. Managers fear that without clear communication and predictable implementation, Switzerland will further lose appeal compared to competing jurisdictions.
What are the timeframes for work permits that CEOs are concerned about?: 70% of respondents complain about the lengthening of approval procedures for investments and work permits for foreign talent. The report does not specify the exact current times, but the main criticism is that bureaucracy slows down the ability of multinationals to attract international executives and specialists quickly.
How does infrastructure affect economic competitiveness?: 60% of CEOs report bottlenecks in infrastructure, covering transport, energy and telecommunications. If a multinational company cannot rely on roads, reliable energy and digital connectivity, Switzerland becomes less competitive than countries with more modern or efficient infrastructures.