This report, "Switzerland's Economic Impact in the United States," details the profound and multifaceted economic contributions of Swiss firms and individuals to the U.S. economy. It highlights Switzerland as the 6th largest source of foreign direct investment (FDI), with cumulative investments exceeding $350 billion, directly supporting nearly 400,000 U.S. jobs with the highest average salaries among large foreign investors. Furthermore, Switzerland is the leading foreign investor in U.S. research and development (R&D), spending almost $15 billion annually. The report also emphasizes Switzerland's significant role in fostering a skilled U.S. workforce through its unique apprenticeship model, its balanced bilateral trade in goods and services (with a substantial U.S. services surplus), and the economic benefits derived from Swiss tourism to the U.S. The partnership extends across all 50 states, underscoring a shared commitment to innovation, collaboration, and mutual prosperity.
Switzerland's Economic Impact in the United States: Key Contributions
0:00 Enduring Partnership: The report opens with a foreword from the Ambassador of Switzerland, highlighting centuries of shared values, innovation, and strong collaboration between Switzerland and the United States, rooted in early Swiss immigration and evolving into robust contemporary economic ties.
1:30 Executive Summary - Overview: Swiss firms are a substantial economic presence in the U.S., creating jobs, supporting economic well-being, and being a major export destination for U.S. goods and services.
1:50 Job Creation & Salaries: In 2022, Swiss affiliates supported 399,100 U.S. jobs nationwide, paying the highest average salary of $131,100 among large foreign investing countries.
2:15 Manufacturing & Services Employment: Swiss firms accounted for 189,000 U.S. manufacturing jobs (7% of foreign-affiliated manufacturing jobs), primarily in chemicals and food. They also employed 187,100 Americans in services, with finance and insurance being a significant sector (59,000 jobs).
3:00 Leading Foreign Investor: As of late 2023, Switzerland had cumulatively invested $352 billion in the U.S., ranking as the sixth-largest foreign direct investor. The U.S. is Switzerland's largest investment destination, receiving over one-fifth of all Swiss direct investment abroad.
3:45 R&D Leadership: Swiss firms led all foreign investing countries in R&D spending in the U.S. in 2022, investing nearly $15 billion, particularly in pharmaceuticals and medicines. They supported 22,500 R&D-related jobs, ranking fifth globally.
4:30 Apprenticeship Model: Switzerland actively promotes its dual education apprenticeship model in the U.S., allowing young Americans debt-free paths to career success. A 2024 Memorandum of Understanding (MoU) renewal expands these programs, which are implemented by companies like Bühler, Stadler Rail, Acutronic Group, and Zurich Insurance across over 25 professions.
6:00 Widespread State-Level Impact: Swiss investment and trade support approximately 675,000 U.S. jobs across all 50 states, with California (77,000+ jobs) and New York (76,000+ jobs) being among the top beneficiaries.
6:45 Tax Contributions & Value Added: Swiss affiliates paid $4 billion in U.S. income taxes in 2022 (fifth largest among foreign companies) and generated $77 billion in value added for the U.S. economy, ranking seventh.
7:15 Trade in Goods: U.S. merchandise exports to Switzerland totaled nearly $28 billion in 2023, making it the 18th largest export market for the U.S., supporting close to 60,000 jobs. Key exports include primary metals and chemicals.
7:45 Trade in Services: Switzerland is the fourth-largest market for U.S. services exports worldwide, totaling nearly $50 billion in 2023, creating approximately 217,000 U.S. jobs and contributing to a substantial U.S. services trade surplus.
8:15 Tourism Impact: In 2023, almost 400,000 Swiss visitors traveled to the U.S., spending an average of $5,100 per trip (among the highest per country), supporting an estimated 13,400 American jobs.
8:45 Sister Cities: Over a dozen U.S. cities have sister city relationships with Swiss counterparts, fostering cultural and collaborative ties.
9:00 Report Methodology: The report's data is primarily based on current U.S. government sources, including the Bureau of Economic Analysis (BEA) and the U.S. Census Bureau, ensuring comprehensive and accurate analysis.