Foreign direct investments in Switzerland increased by a quarter last year

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• In 2024, a decline of five percent in the number of foreign investment projects in Europe, while in Switzerland there was an increase of 25 percent.
• Decrease in France and the UK – both countries remain significantly ahead of Germany in the ranking.
• Investments from US companies: a decline of 11 percent in Europe, an increase of 69 percent in Switzerland.
• US companies were the largest investors in Switzerland in 2024; in 2023, it was Germany.
• Swiss companies are increasingly investing abroad in Europe: an increase in investments of nearly 5 percent.

Zurich, 15 May 2025 – The auditing and consulting firm EY in Switzerland has published the latest edition of the European Attractiveness Survey, which analyzes investment projects from foreign companies in Europe.* The latest edition of the analysis shows that foreign direct investments in Switzerland have significantly increased. The number of investment projects announced by foreign companies in Switzerland rose by 24.7 percent in 2024 compared to the previous year, from 89 to 111. Just in 2022, only 58 investments were counted. This indicates a counter-trend in Switzerland compared to what is being recorded in Europe: across Europe, a total of 5,383 investment projects from foreign investors were announced last year, representing a decline of five percent.

France remains the leader in the European ranking, despite a decrease in the number of investment projects by 14 percent to 1,025. The UK ranks second in the ranking, with the number of projects falling by 13 percent to 853. Germany is in third place with a decline of 17 percent to 608 projects. Among the larger European locations, only Spain and Poland recorded significant increases last year – by 15 and 13 percent, respectively.

Swiss companies as investors in Europe

While more and more foreign companies are choosing Switzerland as an investment destination, Swiss companies once again proved to be active investors abroad in Europe last year: The number of investment projects by Swiss companies increased by 4.7 percent to 247, creating 11,872 new jobs in the respective countries – placing Switzerland sixth among the largest investors in Europe. The USA ranks first (942 projects and 58,144 jobs), followed by Germany (633 projects and 46,293 jobs), the UK (379 projects and 15,284 jobs), France (284 projects and 15,142 jobs), and China (260 projects and 24,626 jobs).

Swiss companies invested primarily in France (57 investment projects, 1,149 jobs), Germany (47 projects, 4,426 jobs), the UK (22 projects, 611 jobs), Italy (20 projects, 1,440 jobs), and Austria (15 projects, 767 jobs).

André Bieri, Markets Leader Switzerland and Liechtenstein at EY, assesses the significantly increased foreign investments in Switzerland as follows: “Switzerland serves, among other things, as a gateway to Europe for US companies, which is why investments from the USA are also very high. The establishment tends to involve newly created jobs with very high value creation. Switzerland still offers well-known location factors, combined with legal certainty and an attractive tax system. An established environment for research and development, as well as for new technologies and corresponding talents, are further drivers that distinguish our country.”

Regarding the general decline in investments in Europe, Bieri states: “The effects of ‘America First’ primarily affect investments in production sites in the EU, along with significant uncertainty triggered by geopolitical developments. These include a looming recession or even depression that could be triggered by the US economy/politics. The pressure on Europe is increasing. It must demonstrate that within European borders, predictability, planning security, and the rule of law are prioritized – Switzerland sets an example here – but cannot take unilateral action without fair coordination with the EU.”

USA now the largest investor in Switzerland

US corporations significantly increased their investments in 2024 compared to the previous year, from 16 to 27 (+69 percent), creating 131 new jobs. André Bieri says: “This number may not sound like much at first. However, it should be kept in mind that jobs created in Switzerland typically exhibit very high value creation – especially compared to other European countries, where many of the newly created jobs belong to the routine sector.”

Thus, the USA was the largest investor in Switzerland last year. Meanwhile, German companies significantly reduced their investments from 24 to 14 (-41 percent) and created 123 new jobs, making Germany the second most important investor. Following the leaders are France (10 projects, 60 jobs), Italy (9 projects, 5 jobs), the UK (7 projects, 44 jobs), and Belgium (4 projects, 11 jobs).

* The European Attractiveness Survey captures investment projects that lead to the creation of new locations and new jobs; portfolio and M&A investments are not included.

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