CEOs in Switzerland concerned about geopolitical developments – efficiency and automation measures in response to tariffs

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• Around half (52%) of Swiss CEOs surveyed consider the current geopolitical uncertainty to be the main risk for their own company – around a third (28%) globally.
• In spite of the US tariff blow, barely a third (34%) of Swiss CEOs are concerned about tariffs, compared with 28% worldwide.
• As a result of the punitive tariffs, around half (48%) of Swiss business leaders are planning efficiency and automation measures.
• 40% of Swiss CEOs plan to complete at least one merger or acquisition in the next 12 months.

Zurich, 16 September 2025 – The latest edition of the CEO Outlook Survey from EY Parthenon, EY Switzerland’s strategy and transactions consultancy, shows that the geopolitical situation remains the central issue for Swiss CEOs. Geopolitics (52%) and macroeconomic uncertainty (42%) were the challenges mentioned most by the 50 Swiss CEOs surveyed. These issues are also among the global challenges named by the 1,200 global respondents, albeit much less so (geopolitics: 28%; macroeconomic uncertainty: 27%). At the same time, the global evaluation shows that other issues – such as risks resulting from technological upheaval and AI integration, supply chain problems and sustainability pressures – are sometimes given even higher priority internationally. In the case of new or increased tariffs, 48% of Swiss companies prioritize efficiency and automation measures, compared with 33% globally.

Stefan Rösch-Rütsche, Country Managing Partner of EY Switzerland, commented: “The significant increase in tariffs on Swiss imports has taken many companies by surprise, posing risks to profit margins, disrupting supply chains and jeopardizing relationships with US customers. In light of the 39% increase in tariffs, it is critical that companies act quickly and find tailored solutions.”

Interest in acquisitions and sales remains stable despite uncertainty

Despite geopolitical uncertainty, interest in mergers, acquisitions and strategic partnerships remains unchanged: 40% of Swiss companies are planning at least one M&A transaction in the next 12 months. At the same time, Swiss managers show a strong preference for building strategic partnerships that offer the advantage of minimizing costs and conserving company resources. The proportion of Swiss CEOs who are aiming for at least one alliance or joint venture within the next 12 months is 76%, compared with 73% globally.

“Strategic alliances are becoming increasingly important. Many industries are currently undergoing massive technological changes. In this situation, alliances provide the necessary flexibility and enable action to be taken quickly,” said Stefan Rösch-Rütsche.

Regionalization as a strategic response to geopolitical challenges

The survey shows that Swiss companies are increasingly establishing regional supply chains (regionalization) and producing goods in the country (localization) in order to counter geopolitical risks and trade barriers. Almost three-quarters (74%) of CEOs surveyed say they are already implementing localization measures or will do so soon. In the case of regionalization, the figure is just under half (48%). In Switzerland, 79% of CEOs see regionalization as a long-term strategic measure, while globally 63% follow this approach. The implementation of localization strategies is also seen as a long-term transformation in Switzerland (56%, compared with a global average of 72%).

67% of Swiss CEOs cite market conditions as the most important success factor for the implementation of regional and local strategies, compared with 54% globally. Energy costs, ESG regulations and the regulatory framework are the biggest challenges in terms of implementation in Switzerland, each accounting for 54%.

38% of Swiss CEOs expect the current geopolitical and economic uncertainty to persist for at least another three to five years. Globally, 17% of those surveyed see this being the case.

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