Zurich is a major economic center of the country and plays a vital role in the economy of Switzerland.
There are a number of popular Zurich Companies that deals in various sectors and they generate huge revenues for the economy of the country. The city offers a high standard of living, skilled workforce, and excellent public transport system and various other facilities that has attracted leading companies from all over the world to establish their units in this city.
The service industry is one of the most important sector of the Zurich economy. About four fifths of the workers of the city are employed in the service industry. The service sector comprises of insurance, education, government, social services, tourism, banking and retail. Financial and insurance services are among the major sectors in the service industry that account for above 20 per cent of workers.
The headquarters of most of the Swiss banks are located in Zurich including a number of foreign banks. In the year 2000, more than 6,500 new companies were established in the city. Among the 50 prominent companies located in Switzerland, 10 of them are headquartered in Zurich. Some of the largest companies of Switzerland, whose office are located in Zurich are ABB Business Services Ltd, Migros-Genossenschafts-Bund,Credit Suisse Group,
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Swiss Re and ABB Ltd.
Credit Suisse Group,Swiss Re and UBS AG are the three leading financial companies of Zurich. Swiss Re was founded in the year 1863 and is the largest reinsurer of the world. The company operates in over 30 countries of the world. The Credit Suisse Group is the second-largest Swiss bank with its headquarters in Zürich. UBS AG is the second-largest bank in Europe, in terms of market capitalization and profitability. The company has its headquarters in Basel and Zürich, which is a diversified global financial services company.
ABB is one leading engineering companies of Zurich that helps the customers to use electrical power in an effective manner. The Company offers services related to power generation solutions, automation solutions, optimization solutions, system integration and electrical balance of plant service.
Some of the other industries in the city are textile industries, light industry, machine and tourism. A large number of global companies like IBM, Toyota Europe, Microsoft, Degussa, General Motors Europe, UBS, Credit Suisse, Google and ABB Ltd. have their service or research centers in Zurich. These popular Zurich Companies have established the city as a major financial center of the world.
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