Buongiorno in Switzerland
Ticino and Lugano
Ticino is the southernmost canton of Switzerland, divided into eight districts, and is part of Italian-speaking Switzerland. Lugano is the largest city in the canton. Ticino’s highly trained, multilingual workforce, flexible labor laws, high quality infrastructure and favorable tax laws make the canton an attractive business location. The most important industry sectors of Ticino’s economy are financial, tourism, trade and commerce, logistics, and production.
The Ticinese market, especially in the area of finance, has traditionally close ties with Northern Italy, based on culture and language. Many Ticino businesses rely in part on commuters from Northern Italy; Milan is within daily commuting distance. This proximity to one of Europe’s major fashion centers makes Ticino an attractive business location for a growing number of U.S. exporters in the fashion industry, including Guess and Abercrombie & Fitch.
Finance
Ticino, specifically the city of Lugano, is Switzerland’s third largest financial center, after Zurich and Geneva. The main driving force of the economy in Lugano, the banking sector alone encompasses 70 banks and 8,400 employees and generates about 17 % of the gross cantonal product of about USD 10.4 billion.
There is much emphasis on private banking, but also on estate management, industrial and commercial credit, tax and corporate consultancy, wealth management, etc. The financial sector in Ticino is closely connected to and relies heavily on other sectors, in particular the service industry
Lugano is also home to the Centro di studi bancari (Center for Banking Studies), which belongs to the Banking Association of Ticino and whose goal it is to strengthen the image and the professionalism of the financial center of Lugano. The Center offers advanced training courses, hosts international conferences, and offers many training and study opportunities for those working in the financial sector.
Tourism
Located in the South of Switzerland, Ticino offers the best of two worlds: Italian hospitality, food, atmosphere and warm climate with the Swiss sense for safety, neatness and cleanliness. The result is high quality of life and a low crime rate, which is very attractive to tourists. Tourism employs nearly 14,000 in Ticino (9 % of the cantonal workforce). The canton boasts about 5.5 million overnight stays a year, with about 720,000 overnight stays in Lugano alone.
Trade & Commerce
Approximately 100 of Switzerland’s 1,000 trading companies are located in Ticino, generating about USD 8 billion in annual revenue. Many shared service centers are located in Ticino, profiting from Switzerland’s advanced infrastructure and proximity to Northern Italy.
Lugano’s Via Nassa is home to many boutiques and famous brands and even attracts shoppers from Milan. Over the last few years, companies like Canali, Prada, Gucci, Zegna, attracted by the highly qualified workforce, advanced infrastructure and financial services, have established distribution venues and/or production sites in Ticino.
Logistics
Located in the heart of Europe, Switzerland is one of the most important routes of transportation between the North and South of Europe. The importance will increase further over the next decade with the completion of the St. Gotthard Base Tunnel, scheduled for completion in 2015.
Logistics companies in Ticino are focused around the region of Mendrisio. According to industry surveys, the region offers political stability, vast availability and dissemination of information and communication technologies, professionalism of fiduciary and insurance services, and dependability of the customs administration in understanding the industry's needs.
Manufacturing
Ticino has a strong high tech industry with a focus on niche products. Caterpillar Turbomach and GE Digital Energy have manufacturing facilities in the region. The major manufacturing sectors include electronics and electric machinery, mechanics and metallurgy, chemistry and pharmaceuticals, textiles and clothing, and building and construction. Building and construction has been experiencing phenomenal growth, most notably in the sector of private homes and apartment buildings.
Education & Research
Ticino is home to the University of Southern Switzerland (USI), which offers degrees in economic sciences, communication sciences, information technology and architecture. The University of Applied Sciences of Southern Switzerland (SUPSI) in Manno is comprised of the Department of Information Technology, of Electronics and of Economic & Social Sciences. SUPSI is a professional training college and a R&D center and works together with other academic and research institutions in Switzerland.
Ticino is also home to many scientific research institutions, including the Swiss National Supercomputing Centre (CSCS), an autonomous unit of the ETH Zurich, which provides, develops and promotes technical and scientific services for the Swiss research community in the fields of high-performance and high-throughput computing.