Switzerland is a non-coastal country located in Central Europe. There are neighboring countries surrounding Switzerland, they include France, Austria, Italy, Liechtenstein, and Germany. In Switzerland, the natural features are mostly mountains with a central plateau of rolling hills, plains, and large lakes. As a result of Switzerland being surrounded by neighboring countries centralized, it provides a great range of different cultures and languages. Bern is the capital of Switzerland, and Swiss franc (CHF) is the official currency. German, French, Italian, and Rhaeto-Romanic are the official languages of Switzerland.
Switzerland political stability, liberal economic system, and its close integration with the economies of other countries make it an eye-catching place for business.
The government system is formally a confederation but similar in structure to a federal republic. The president is the chief of state and head of government. Switzerland has a modern market economy in which the prices of goods and services are determined in a free price system. Switzerland is a part of the European Free Trade Association (EFTA).
About 20% of foreign residents in Switzerland add to the country total population in 1998. About 75% of the foreign resident were of Italian nationality, the next-leading countries of origin are the former Yugoslavia, Spain, Portugal, Germany and Turkey were. Swiss voters approved a government plan to tighten rules on immigration and political refuge in April 1987
Switzerland is a prosperous, peaceful, with low unemployment rate, modern market economy, a highly skilled labor force, and a per capita gross domestic product (GDP), which is among the highest in the world. Switzerland’s economy has benefitted from a well-developed service sector, that is led by financial services; a strong production company which specializes in high-technology, knowledge-based production with pharmaceutical and chemical industry that is well established.
Swiss manufacturing companies, especially engineering and machinery, metals, chemicals, electronics, and pharmaceuticals are well-known for their exactness and quality, which contribute more than half of the country’s export revenues. When it comes to agriculture, Switzerland is self-sufficient for almost two-thirds of its food and sells to other countries; however it also brings in about $6 billion worth of agricultural commodities annually. It is mainly the small-scale farmers that are among the most well protected and subsidized producers in the world.
Since Switzerland lack mineral resources and other raw materials with its limited agricultural production, Switzerland depends on importation of food and silage and other industrial raw materials, which it finances and sold to other countries as manufactured goods. Agriculture is vital (Switzerland is about 60% self-sufficient in agriculture) while limited at a certain level and also fertile land, but manufacturing engages more than five times as many workers as farming.
The largest city is Zurich; it is the commercial, financial, and industrial center of Switzerland. Basel is considered as the second most important commercial city, followed by places such as Geneva and Lausanne. The majority of Swiss wholesale firms are importers as well, which they specialized in one commodity or a group of related commodities.
Switzerland’s export commodities can be split into two categories which are: machinery sold to other manufacturers, and commodities used by consumers. The country sells to other countries a large number of the world’s watches and clocks.
Switzerland is usually open to foreign investment and national treatments are being given to the foreign investors as grants. However, the government control investment in vacation real estate, utilities, and other sectors regarded as very vital to national security (such as hydroelectric and nuclear power plants, operation of oil pipelines, an operation of airlines and marine navigation, and the transportation of explosive materials).
Switzerland has long been known as one of the most prominent tourist regions in the world, and Swiss have a well-known hospitality and great hotel industry. Eye-catching attractive manifold, and in the Swiss Alps and on the shores of the Swiss lakes there are features of interest for the skier, the swimmer, the hiker, the mountain climber, and the high alpinist. There is approximately 50,000 km (31,000 mi) of marked footpaths and 500 ski lifts. The hotels are among the best in the world; Switzerland pioneered in modern hotel management and in specialized training for hotel personnel. The central of Switzerland and Geneva area attract the many foreign tourists. Passports and visas are required for all visitors except citizens of the Americas, Europe, Japan, Australia, and New Zealand who do not need visas for staying up to 90 days.