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The press releases page is designed for journalists, clients and any other stakeholder interested in getting the latest news from Deloitte Switzerland.
Zurich/Geneva, 4 September 2023
Cyber resilience – board members are aware of the risks, but action is required with regard to crisis prevention and reporting
Cyber-attacks are affecting the Swiss economy more than ever. One in two large companies have already fallen victim to them, and in many cases such incidents result in a business interruption. The 14th edition of swissVR Monitor shows that, although awareness of the risks is increasing, many companies lack a clearly formulated cyber strategy. They practise for emergencies only rarely, and reporting to the board of directors by the management team also needs to improve.
Zurich/Geneva, 28 August 2023
AI study: Over 60 per cent use Artificial Intelligence at work – almost half of all employees are worried about losing their jobs
Artificial Intelligence (AI) is about to revolutionise the world of work. Programmes based on Generative AI are now easily accessible to a broad public, providing them with powerful tools. A survey by the audit and consulting company Deloitte found that almost 61 per cent of respondents who work with a computer already use Generative AI Programmes in their day-to-day work – in some cases, without their line manager knowing. What is interesting is that the people who are using Generative AI more are the ones who are worried the most about the future of their jobs. However, implementing AI does not just increase efficiency – it also poses risks and requires a considerable amount of investment.
Zurich/Geneva, 27 July 2023
The number of mergers and acquisitions (M&As) involving small and medium-sized enterprises (SMEs) based in Switzerland has declined year on year. This was found by the latest Deloitte study on the M&A activity of Swiss SMEs. The number of Swiss SMEs acquiring businesses abroad has hit a new high, a trend driven mainly by IT service providers, which were responsible for more than a quarter of all transactions.
Zurich/Geneva, 18 July 2023
E-government in Switzerland: Population wants more digital
services – public administrations not ready yet
Just under half of the Swiss population is satisfied with the existing range of e-government services of public administrations. However, the authorities still have some catching up to do, both in terms of the range of digital services they offer and in terms of data protection and IT infrastructure, as shown by a recent Deloitte survey at the population and public administration level. Larger gaps are still apparent at the municipal level in particular. For the expansion, it will be crucial to ensure that investments in e-government services are no longer just made in isolation. Greater collaboration with private companies could provide a breakthrough.
Zurich/Geneva, 30 June 2023
Entrepreneurial excellence in challenging times: Deloitte gives Best Managed Companies Award to six companies
Supported by SIX Swiss Exchange and Bank Julius Baer, Deloitte has recognised privately held Swiss companies that are managed in an exemplary manner in four key areas of business management. According to the independent judging panel, these companies met all of the assessment criteria. They are distinguished by their high degree of agility, their resilience in challenging times and their pronounced innovative spirit.
Zurich/Geneva, 19 June 2023
Almost half of Switzerland’s young workers plan to quit soon – companies need a rethink and managers more empathy
The severe skills shortage in Switzerland looks set to get even worse before long, with nearly half of Generation Z and over a fifth of all millennials planning to hand in their notice in the next two years. The main reasons cited are a lack of meaningful work and pay that is too low. These are the findings of a recent Deloitte Study entitled ‘Swiss Gen Z and Millennial Survey 2023’. These two generations already make up half the workforce, meaning that companies simply cannot do without them. To attract this young talent, they need to offer more flexibility in terms of where and when they can work. And to keep them for the long term, managers should seek out training in order to provide more mindful and empathetic leadership and support.
Zurich/Geneva, 2 June 2023
Deloitte Affluent Study: Affluent clients overestimate their own financial literacy – Swiss banks could capitalise on huge market potential
Retail banking for less affluent clients on the one hand and private banking for the wealthy on the other – the huge area in between is being largely ignored by Swiss banks. These are the findings of an exclusive survey by Deloitte. The respondents claim to have sound financial knowledge, but their investment decisions do not back this up, since they are letting tax savings and yields slip through their fingers. Affluent clients want low fees and a bank that is available to them for life as a financial coach with a specific advisory function, since their priority areas are retirement provision and supporting their families. With tailored, digitally assisted advice, Swiss banks could exploit attractive growth opportunities in this market segment. However, to do so, they would need to define a strategy, offer transparent prices and push ahead with digitalisation.
Zurich/Geneva, 1 June 2023
Positive momentum continues: Deloitte Switzerland strengthens partnership and makes new appointments to key roles
The audit and consulting company Deloitte Switzerland has promoted ten experienced and highly successful specialists to partners as of 1 June 2023, while nine further partners joined the organisation from outside the firm during the financial year. Deloitte has also entrusted several individuals with new management and leadership responsibilities, likewise with effect from 1 June 2023. In making these changes, the company is reflecting the fast-paced market developments and its ongoing success in all areas of its business.
Zurich/Geneva, 27 April 2023
International study shows: Swiss Banks
have dropped out of the top 20 when it comes to digitalising their services
Where do you look for international digital banking champions? You are unlikely to find them in Switzerland. With regard to digital banking services, the Swiss banking sector fell further behind banks in the rest of the world in 2022 and now risks being unable to close the gap to its international competitors. These are the findings of the recent Deloitte study ‘Digital Banking Maturity 2022’, which assessed over 300 banks in 41 countries. In the international rankings, the ten Swiss representatives only achieved 21st place. This is even lower than two years ago, when they came 18th. Compared with other banks internationally, Swiss banks are too slow, lack innovation, and focus too little on what their customers want.
Zurich/Geneva, 3 April 2023
Swiss retail banks will come under increasing pressure – earning streams may shrink by a third within the decade
Swiss banks active in retail banking are still doing well. The challenges of the past decades have never seriously threatened their leading position, and incremental changes have always sufficed. But current business models are now being challenged by new developments: amongst others, this is the transition from a closed banking business model to platform-driven open banking, the increased opening up of value chains, and with that, greater collaboration with third-party providers. Thus, banks could see their revenue streams from key businesses contract by a third within the current decade. This is shown with Deloitte’s new study ‘Future of Retail Banking’. In addition, recent bank failures in the US and the local market impact from the forced merger of UBS and Credit Suisse will further drive market dynamics – a reason to move quickly and decisively for all market participants.
Zurich/Bern, 20 March 2023
Launch of the first Circularity Gap Report Switzerland and kick-off of a nationwide Circular Economy Roadmap
This first Circularity Gap Report for Switzerland reveals the country’s high material consumption and greenhouse gas emissions to satisfy its residents' needs and wants. According to the report, just under 7% of the raw materials used in the Swiss economy come from secondary sources like recycling—leaving a Circularity Gap of just over 93%. This means that the vast majority of material inputs to the Swiss economy come from virgin sources, mostly through extraction taking place abroad—contributing to significant environmental impacts, from emissions to waste generation.
Zurich/Geneva, 8 March 2023
Global Powers of Retailing: department stores and online retailers on the up – luxury brand groups enjoying above-average growth
Retail sales have seen faster growth worldwide for what is now the third year in succession and currently stand at $5.6 trillion. The Deloitte ranking shows that this global growth is being driven by luxury brands, online retailers and department stores, among others. While the two big Swiss retailers Migros and Coop did not grow quite as fast as their international competitors in the year under review, from a Swiss perspective it was primarily the luxury brand group Richemont that enjoyed above-average revenue growth. Generally speaking, luxury brand conglomerates were among the biggest winners in the 2021 financial year. Although department stores made major gains across the world, the situation in Switzerland is somewhat strained. The end of the pandemic is in-creasing pressure on the sector, with consumers tending to spend their money elsewhere at the moment.
Zurich/Geneva, 27 February 2023
On boards of Swiss companies, there is a mismatch between the time that members have to devote to the role and how much they earn for their work. A quarter of the recently surveyed board members do not believe their remuneration is commensurate with their workload. This tallies with previous surveys (from 2018 onwards), in which most respondents had already stated that their board duties were taking up more time. However, the latest swissVR Monitor also reveals some positives among its responses from 453 board members: Nine out of ten appreciate the fairness and good governance that they encounter on their board and in dealings with shareholders.
Zurich/Geneva, 22 February 2023
After M&A activity had already increased to new record levels both globally and in Switzerland in 2021, the number of deals involving Swiss SMEs rose again in 2022. Swiss small and medium-sized enterprises acted either as the buyer or the target in a total of 244 transactions – some 5 per cent more than in the previous year (233). The fastest rise related to Swiss SMEs buying up companies abroad. This development is clearly bucking the global trend and is a sign of the strength of Switzerland’s SME sector. The country’s healthy economy, relatively low inflation from an international perspective and strong franc kept activity brisk overall, although the number of transactions fell back sharply in the second half of 2022. The trend is likely to reverse again this year.
Zurich/Geneva, 16 February 2023
Global Marketing Trends 2023: Swiss companies missing the boat to the metaverse – not enough focus on creativity
The marketing departments at Swiss businesses have yet to arrive in the future. They are lagging behind their peers in other countries in terms of using new technologies and creativity to drive growth. The percentage of Swiss companies with a presence in the metaverse is less than half the global average. When it comes to sustainability, however, Swiss marketing departments are right at the forefront. These are the findings of Deloitte’s Global Marketing Trends 2023 study, which interviewed more than 1,000 marketing executives all over the world, including 100 in Switzerland.
Zurich/Geneva, 10 February 2023
Reto Savoia confirmed as CEO of Deloitte Switzerland for
four more years – focus on sustainable growth and technology leadership
The audit and consulting company Deloitte Switzerland has reappointed Reto Savoia as its CEO after four very successful years in the role. Together with his management team and a growing workforce of more than 2,600 people, he has successfully expanded the company’s business and turned Deloitte into one of Switzerland’s leading audit and consulting companies. Over the next four years, he is aiming to continue this growth trajectory, as well as reinforcing Deloitte’s position as a leading employer and an influential voice within the Swiss economy.
Zurich/Geneva, 30 January 2023
Swiss companies have increased their sustainability investments despite uncertainties – climate change must be part of the strategy
Less than half of the executives of Swiss companies see climate change as one of their top three priorities. The Deloitte 2023 CxO Sustainability Report also found that Swiss executives are more pessimistic than their global counterparts: More than a third expect climate change to have a far-reaching impact in the long term, and over a fifth do not think that economic growth is compatible with achieving climate goals. The survey also found that three-quarters of Swiss companies invested significantly more resources in sustainability in the past year. Nevertheless, it is essential that companies take a much more systematic approach to incorporating climate considerations into all of their corporate decisions and actions.
Zurich/Geneva, 23 Januar 2023
Deloitte pharma study: Drop-off in returns on R&D investments – sharp decline in peak sales per asset
The projected return on investment of the global pharmaceutical industry was down significantly from last year. This was revealed by Deloitte’s annual analysis of 20 of the world’s leading pharmaceutical companies. The average expected return on investment for research and development fell from 6.8 per cent in 2021 to just 1.2 per cent in 2022. The study also showed that forecast peak sales per asset declined by a quarter to around $389 million. The development process for new drugs must therefore be transformed and could be made much more efficient with digital technologies. In addition, Switzerland as a pharma location urgently needs clarity over its relationships with Europe, as well as a roadmap for digitising the health care system.
Zurich, 28 December 2022
Before the pandemic, 35 per cent of the Swiss population were able to explain what the term ‘esports’ means; this figure has risen to 42 per cent in 2022. Around the same percentage of Swiss people (40 per cent) regularly spend money on esports events and gaming – 25 francs per month on average. These are the findings of the representative study ‘Let’s Play! 2022’, for which Deloitte surveyed more than 14,000 Europeans. The industry now faces the challenge of converting its growing popularity into even more viewers and paying fans.
Zurich/Geneva, 14 December 2022
Despite rising healthcare costs: 45% of people in Switzerland do not want their personal health data to be stored or shared digitally
People in Switzerland are sceptical towards their health data being digitally stored and shared. Almost one in two are against it. These are the findings of the new Deloitte survey ‘Digitalising health data: great opportunities amid widespread scepticism’. However, this lack of trust could be countered by education and transparency, and by raising awareness of how digital health data can benefit individuals and the healthcare ecosystem as a whole. On the one hand, policymakers are called upon to stimulate public debate about a unified, properly safeguarded and monitored digitised healthcare system and to create the necessary conditions at federal level for its sustainable and coherent realisation. On the other hand, digital solution providers, healthcare organisations and healthcare professionals must play a critical role in generating trust among patients, as well as highlighting the benefits of digitisation. Key benefits of systematic digitisation include the potential for significant improvements in efficiency and effectiveness, especially with regard to patient outcomes and the reduction of complexity, which has been rising exponentially for a long time.
Zurich/Geneva, 24 November 2022
Deloitte Resilience Barometer: Swiss public services and infrastructure could be largely maintained during crisis – healthcare and logistics are vulnerable
Pandemics, geopolitical tension, climate change: Switzerland’s economy is continuously exposed to major events that have the potential to cause considerable damage in an interconnected world. The auditing and consulting organisation Deloitte investigated how crisis-proof and resilient the Swiss economy is for three realistic scenarios. The results were validated with external experts. Encouragingly, it was found that public services and infrastructure are stable overall. However, the Swiss economy has some major vulnerabilities in the areas of healthcare and logistics. Food imports might also be affected, and Switzerland’s ‘militia’ system of part-time public service would reach its limits in the event of a prolonged crisis. The study shows just how reliant the Swiss economy is on local workers and global supply chains.
Zurich/Geneva, 13 October 2022
Swiss watch industry: E-commerce business expected to double by 2030 and pre-owned market to grow to CHF 35 billion globally
With two in five consumers planning to buy a watch online, the watch industry is likely to see its e-commerce business double by the end of the decade. At the same time, pre-owned watches continue to be in high demand, with one in three consumers (31%) planning to buy one in the next 12 months. This number is even higher for under-40: Almost every other respondent in this category (48%) is considering purchasing a second-hand watch. The pre-owned market is likely to grow from CHF 20 billion to CHF 35 billion by 2030, which would represent more than half of the primary market. Luxury watches are also increasingly seen as an investment, especially in China and Hong Kong, where one in three people acquire a timepiece as an investment or to resell. With consumer behaviour changing and more digital savvy generations becoming the main buyers of luxury watches, the Swiss watch industry will have to look into how it can expand its online channels while also taking into account the rising preference for pre-owned watches and the growing trend of buying a watch as an investment.
Zurich/Geneva, 4 October 2022
Swiss companies assess the economic outlook for Switzerland as significantly weaker than six months ago. However, according to the Deloitte CFO survey, a slump in the economy is not yet imminent. The main cause of concern are the direct and indirect consequences of geopolitical developments: inflation, bottlenecks in the supply chain and in energy supply. Germany and China are viewed with concern, too. The respondents also assume that inflation will still be moderate and expect key interest rates to continue to rise. A majority assesses the financial outlook for their own company over the next 12 months as positive.
Zurich/Geneva, 30 September 2022
Deloitte Switzerland reports eight per cent growth and further increases its sustainability and technology focus
Over the past financial year, Deloitte Switzerland increased its net revenue by 8% to CHF 547 million. This record result reflects the company’s strong momentum and continued success in future-proofing Swiss companies and public authorities. Deloitte Switzerland created 237 new jobs in the year under review, promoted 21 partners and now employs over 2,500 people from 69 countries. With the appointment of heads of sustainability and technology to the Swiss Executive Group, a wider talent base and a strong first quarter, Deloitte Switzerland is well equipped to achieve double-digit growth in the current financial year.
Zurich/Geneva, 21 September 2022
The internationally renowned multi-disciplinary creative consultancy ACNE is opening a new office in Zurich, enabling Deloitte Switzerland to extensively broaden its offering to clients in Switzerland. Acquired by Deloitte in 2017, ACNE combines creative excellence with Deloitte’s cutting-edge business insights. The Zurich office will strengthen the consultancy’s Europe-wide network by bringing further local market expertise to Deloitte’s clients in Switzerland and around the world.
Rotkreuz/Zurich/Geneva, 29 August 2022
Whether political and military crises, trade disputes, resource conflicts or climate change: geopolitical developments are having a key impact on the business activities of most Swiss companies, as shown by the swissVR Monitor II/2022. Yet only few boards of directors take comprehensive measures to identify the risks and develop scenarios. In view of the current global situation, there would appear to be a definite need to act: the majority of the 420 board members surveyed assess the geopolitical risk for their company as high or very high over the next 12 months. In addition, a third expect the Swiss economy to contract.
Zurich/Geneva, 17 August 2022
M&A activity of Swiss SMEs: uptrend continued after record year – outlook for rest of the year less optimistic
The number of mergers and acquisitions of Swiss small and medium-sized enterprises (SMEs) reached a new all-time high in the first half of 2022. According to the latest Deloitte mid-cap M&A study, 133 SMEs acquired other companies or were taken over themselves. This compares to 117 in the first half of 2021 and 116 in the second half. The economical and geopolitical instability in the world are key factors affecting the transaction landscape and may curb the appetite of Swiss SMEs for acquisitions in the second half of 2022.
Zurich, 20 July 2022
Deloitte Switzerland, part of the global network of Deloitte, has obtained EDGE Move certification, showcasing progress in workplace gender equity. This is the second certification for Deloitte Switzerland after its first EDGE Assess certification in 2013.
Zurich, 14 July 2022
Alessandro Miolo, Head of Audit & Assurance at Deloitte Switzerland, has been elected President of the Audit Expert Commission of the EXPERTsuisse industry association. With this appointment, the leading professional services firm is making a major contribution to developing the auditing profession in the interest of Switzerland as a business location. The profession is involved in some exciting areas and is playing a key role in tackling pressing issues such as sustainability.
Zurich, 8 July 2022
Deloitte, the SIX Swiss Exchange and Julius Baer have recognised privately held Swiss companies that are managed in an exemplary manner in four key areas of business management. According to the independent judging panel, six companies met all of the assessment criteria in this year’s competition. In addition to being highly agile, they have successfully transformed traditional strengths into modern business strategies.
New York/Zurich, 16 June 2022
Survey: LGBT+ inclusion efforts have a positive impact in
lthe workplace – Deloitte Switzerland awarded recognition label
The new Deloitte survey of the global LGBT+ community indicates that the majority of respondents believe their employers are prioritising LGBT+ inclusion and that this is having a positive impact on the organisational culture. Nevertheless, more than four out of ten respondents had experienced discriminating behaviour in the workplace. Employers still have a lot to do to create a working environment that is free of discrimination. Deloitte Switzerland has been actively promoting an open and inclusive organisational culture for many years. In recognition of these efforts, it was awarded the Swiss LGBTI label this week.
Zurich/Geneva, 1 June 2022
On 1 June 2022, the auditing and consulting organisation Deloitte Switzerland made 21 employees partners. This reflects the company’s strong momentum and continued success in all business divisions and relevant sectors, as well as paving the way for further substantial growth. Around 2,400 people work at Deloitte Switzerland, 137 of whom are partners (as at 1 June).
Since the end of the pandemic, many companies have had a great need for consulting services. Numerous projects have been recommenced this year and new investments initiated. This momentum is also visible in the personnel – the most valuable resource of an auditing and consulting organisation such as Deloitte.
Zurich/Geneva, 21 March 2022
Swiss companies appear unfazed by the war in Ukraine and the widespread sanctions against Russia and Belarus. This is despite the fact that they rate geopolitical uncertainty in connection with the war as the greatest risk in the next 12 months and are also concerned about inflation, supply chains and energy prices. Most of the 99 CEOs surveyed by Deloitte since 1 March still expect the economy to grow over the coming 12 months. The majority also remain optimistic about the financial outlook for their own companies. The proportion of companies expecting employee numbers to increase has even risen since the autumn. The Swiss economy is proving very resilient after the coronavirus pandemic. However, the upturn and optimism since the COVID restrictions were lifted are being severely subdued, and the situation could change quickly depending on how the war unfolds.
Zurich/Geneva, 14 March 2022
swissVR Monitor: Swiss board members believe the capacity to innovate is being jeopardised by a shortage of skilled labour
Rather than slowing down the innovation activities of Swiss companies, the coronavirus pandemic has actually boosted them. However, innovation requires something that is currently in short supply: skilled labour. According to the new swissVR Monitor, board members believe that this shortage currently poses the biggest danger to economic success. Clever HR marketing and active talent management are therefore being treated as top priorities. At the same time, partnerships are also becoming more important, especially ones with other companies and universities. But according to the more than 400 board members who were surveyed, policymakers must also play their part by creating better general conditions.
Zurich/Geneva, 27 February 2022
Global Powers of Retailing: retail sector grows during the pandemic – Migros and Coop shoot up the ranking
In 2020, the first year of the pandemic, global retail sales increased by 5.2% – the second rise in succession. The two Swiss retail giants Migros and Coop even recorded growth above the global average. After a weak previous year, they moved up in the ranking of the consulting and auditing organisation Deloitte: Migros by four places to 36th, and Coop by seven places to 39th. The luxury brand company Richemont also gained ground, climbing three places to 93rd. Dufry, the global duty-free shop specialist based in Basel, was hit by the sharp decline in air travel and dropped out of the ranking.
Zurich/Geneva, 16 February 2022
In an environment still affected by COVID-19, the market for mergers and acquisitions is recovering impressively both globally and in Switzerland. More M&A transactions involving SMEs took place in Switzerland in 2021 than in any year since the first publication of the Deloitte M&A MidCap Study in 2013. The 233 deals mark a new record for Switzerland with an increase of almost 25%, following a slight drop in transaction numbers in the previous year. Spurred on by readily accessible financing, this development reflects renewed confidence in the overall economic outlook. Apart from the still fragile pandemic situation and geopolitical tensions, there is much to suggest that M&A activity will continue to increase in 2022.
Zurich/Geneva, 24 January 2022
Executives (CxO) of Swiss companies agree: climate change is real and is having tangible negative impacts on their business. Compared to the international average, almost twice as many executives in Switzerland believe that climate change has already caused irreversible damage. The 2022 Deloitte CxO Sustainability Report also shows that Swiss companies agree there is an urgent need to tackle climate change. Although they feel more pressure from their various stakeholders than companies in other markets do, they implement fewer actions.
Zurich/Geneva, 28 December 2021
Deloitte Swiss Digital Government Study 2021: Large majority of the population in favour of e-voting
Since the outbreak of the pandemic, people in Switzerland have made more use than before of digital public services. A total of 38 percent of the population have become more open to government digital services during this time. At the same time however, according to Deloitte's latest Swiss Digital Government Study, 21 percent of respondents have less trust in the state's existing digital services less than they did before the pandemic - many cite cybersecurity and data protection as key reasons. As in the previous Deloitte survey, the vast majority want standardised digital offerings across Switzerland, provided by the government and not by private companies. Many respondents are also very open towards new digital services: for example, 84 per cent would like to vote electronically. The authorities now face the challenge of finding efficient and user-friendly digital solutions that also address the public's concerns regarding cyber risk and data security.
Zurich/Geneva, 25 November 2021
Deloitte survey: Swiss companies view global minimum tax as a threat – call for the abolition of the Swiss withholding tax
International companies see a global minimum tax as a threat to Switzerland's competitiveness. As compensation for the resulting additional tax revenues, most of the tax managers surveyed suggest the abolition of the Swiss withholding tax. According to the Deloitte survey, support for R&D activities and the reduction of social security contributions also receive broad approval. Overall, the companies based in Switzerland are very satisfied with the location they have chosen. However, in addition to the high costs, they see the lack of access to skilled workers as the biggest challenge facing Switzerland as a business location.
Zurich/Geneva, 4 November 2021
According to the most recent Deloitte CFO Survey, the Swiss economy continues to pick up speed, but the risk assessment is changing significantly. Currently, for 60% of corporates, sales are back at or above pre-crisis levels. For the next 12 months, 83% of corporate CFOs in Switzerland see the economic outlook as positive and 72% expect an increase in their company’s sales. At the same time, supply bottlenecks, skills shortages, price pressure and the threat of inflation are weighing down on the outlook. As a result, more CFOs than six months ago expect falling margins. Companies cannot afford to lose any time as they emerge from the pandemic’ and must continue to keep up the pace of innovation.
Zurich/Geneva, 14 October 2021
Swiss watch industry: One in three consumers consider buying a second-hand watch as brands shift towards being more sustainable
Second-hand luxury watches are becoming increasingly sought after, with almost one in three consumers (32%) saying that they want to buy one in the next twelve months. Watch executives are embracing this trend with two-thirds (67%) seeing it as having a positive impact on their brands according to the Deloitte Swiss Watch Industry Study 2021. When it comes to sustainability, 93 per cent agree that it is a crucial topic for the industry, with 72 per cent already investing in more sustainable practices, ethical sourcing being the most important aspect. Overall, watchmakers are far more optimistic about the economic outlook for the Swiss watch industry than last year with 60 per cent expecting to achieve pre-pandemic sales levels by the end of next year and seeing China as their most important market in the near future.
Zurich/Geneva, 7 October 2021
Switzerland remains number one in an accelerating market that grew by over 10% in 2020. No other country attracts more money from international private clients, according to a new study by Deloitte. Likewise, Switzerland still leads in terms of competitiveness. Yet, of the nine leading wealth management centres, Switzerland ranked only sixth in terms of growth rate for 2020 – only marginally ahead of Hong Kong. Political stability has become an increasingly important underlying factor throughout the pandemic. The suspension of negotiations between Switzerland and the EU on modernisation of their framework agreement is no fillip for the Swiss financial market and makes market access discussions more challenging than ever. For these reasons, the development of new models for digital interaction with clients and improved product offerings should be the primary concern of local wealth managers.
Zurich/Geneva, 23 September 2021
Deloitte Switzerland again achieves record revenue and is aiming for growth of 10% for the current year
Over the past financial year, Deloitte Switzerland has increased its net revenue to a new all-time high of CHF 506.3 million. In the wake of the pandemic, many clients have a greater need for advice, and new projects are being tackled once again. That is why, after a strong first quarter, Deloitte Switzerland is aiming for growth of 10% for the new financial year. A key element of its growth strategy is targeted investment by the company in technology and in creating the best possible working environment for its employees. That is why Deloitte Switzerland has invested CHF 6.7 million in staff training, around 25% more than in the previous year. Deloitte Switzerland onboarded almost 600 new members of staff in the year under review. This brings the number of employees to 2,199 from over 62 countries, and the company has also secured an excellent position in the labour market.
Zurich/Geneva, 25 August 2021
Sustainable food: People in Switzerland want a wider range of products and an understandable and standardised declaration
Sustainable nutrition is important to people in Switzerland and, according to a Deloitte survey, a large majority would like a wider range of sustainable food choices. Alongside food producers, the 1,500 survey respondents felt that responsibility lies with themselves, and above all they want to eat more sustainably for the sake of the environment. They would also like more information about the impact on the environment of the food they eat has on the environment and many feel the need for uniform and understandable labelling. The survey results suggest that there are opportunities for manufacturing and processing companies, as well as for the retail trade.
Zurich/Geneva, 03 August 2021
Deloitte survey: Clear majority for more electric cars - Employers should actively support e-mobility
More than two-thirds of people in Switzerland want to reduce CO2 emissions. And over half pay attention to whether their mode of transport is environmentally friendly. In a survey by Deloitte, almost three-quarters of respondents are hoping for technological progress to combat climate change – and they see electric cars playing a major part. People want to take action themselves, but they also believe that employers have a duty to support the use of public transport, e-cars and bicycles, and that companies should bring environmentally friendly products to market. An improved infrastructure for charging electric vehicles will play an important role in achieving climate change targets.
Zurich/Geneva, 28 July 2021
M&A activity of Swiss SMEs: Spectacular recovery in 2021 – record number of transactions reflects renewed confidence
M&A activity among Swiss SMEs increased to unprecedented levels in the first half of 2021. There was a total of 117 transactions, compared to 72 in the first half of 2020. This 62.5% annual increase and the total number of transactions in a six-month period are the highest since the Deloitte Swiss SME M&A activity began in 2013.
Zurich/Geneva, 21 June 2021
Deloitte Switzerland is making a further investment in the digital future with the move of its Swiss headquarters to the brand-new Prime 2 building in Zurich's trendy district 5. This new and inspiring work environment provides clients and employees with access to the first-class facilities and technologies they need to develop pioneering ideas and models.
Zurich/Geneva 25 May 2021
Private insurance: Customers still not interested in change – but the industry is feeling great pressure to digitalise
According to the Deloitte Insurance Consumer Survey, consumers in Switzerland rarely change their insurance. Most of the 1,000 survey respondents tend to take a negative or critical view of trends such as more extensive data collection, individualised policies or situation-dependent insurance offers. However, especially among young customers, more than half our respondents are open-minded: they would also buy insurance from alternative providers such as technology companies or agree to insurance that is built into a product they buy. The industry is feeling pressure for change, but is moving cautiously and somewhat uncertainly towards digitalisation.
Zurich/Geneva, 11 May 2021
The 2021 Global Powers of Retailing rankings see Migros and Coop remain in the Top 50. Amazon became the second largest global retailer, overtaking Costco but still far behind retail giant Walmart. Richemont held its position in the Top 100 but is expected to see a drop in retail revenue due to the pandemic. Same goes for Dufry: despite being one of the fastest growing retailers in 2019, travel restrictions caused by the pandemic are negatively impacting its business. On the other hand, Swiss retailers benefitted from border closures with neighbouring countries, which forced Swiss consumers to shop at home rather than across the border. The big shift towards online retailing was greatly accelerated by the pandemic; and with large numbers of people working from home, local grocery stores and businesses benefited considerably.
Zurich/Geneva, 22 April 2021
Two-thirds (65%) of Swiss CFOs are optimistic again and see positive growth prospects for the economy as a whole over the next 12 months. Most CFOs (69%) also expect a positive performance for their own company. Despite the optimism, however, the situation remains unstable. This can be seen from the current turnover: two-thirds (66%) of companies have not yet reached pre-crisis levels, and half do not expect a full recovery this year. The pandemic also remains the biggest risk for companies and it also exacerbates other risks, for example in supply chains, digitalisation and cyber security. With regard to the long-term consequences of the pandemic, a majority of the 125 CFOs surveyed agree: working with their clients will continue to be digitalised and office staff will not permanently work exclusively from home. Companies must therefore rely increasingly on flexible and targeted solutions to find a suitable balance with regard to remote working and client interaction.
Zurich/Geneva, 15 April 2021
Half of employees in Switzerland would like their employer to support them in the ongoing vaccination campaign. Almost a third of the approximately 1,500 respondents would like their employer to recommend that employees be vaccinated, and almost a quarter would like to see more extensive and active support through incentives such as a bonus or a change in procedures to make it easier to vaccinate. Companies have a vital interest in getting back to "normal" as soon as possible.
Zurich/Geneva, 26 March 2021
Remote working: most employees want to go back to the office after the pandemic - but not as often as before
In mid-January 2021, the Federal Council imposed new rules requiring people in Switzerland to work from home. Many people now apparently like to work from home: office workers in Switzerland would like to work partly (62%) or even completely (26%) from home even after the pandemic. This was revealed in a representative survey conducted by Deloitte Switzerland in mid-February.
Zurich/Geneva/Lucerne 28 February 2021
People as a key to success – talent management: Swiss companies anticipate difficulties in recruiting highly qualified employees
Are Swiss companies equipped to meet the challenges of recruiting, training and developing their employees? Over two-thirds of the board members surveyed are of this opinion. However, a quarter doubts whether their board of directors has sufficient expertise when it comes to personnel-related issues. Two-fifths feel that their board of directors does not take enough time to deal with the company's own talent management. The latest swissVR Monitor with responses from 420 board members also shows that a clear majority anticipates difficulties in recruiting highly qualified employees in the future. Respondents, therefore, attach great importance to identifying internal talent and developing their own staff: In the future, employees should act more independently and entrepreneurially and develop their digital skills.
Zurich/Geneva, 3 December 2020
With the highest net profit margin, Swiss luxury goods companies outperformed their international competitors in 2019, which gave them a head start into a difficult 2020. Especially in the subcategory for jewellery and watches, Swiss companies continue to shine, accounting for 32% of all companies in this sector in this year's Deloitte Global Powers of Luxury Goods Top 100 ranking. With two companies in the top 10 and a total of 10 companies, one up from the previous year, Switzerland generated 13.2% of luxury goods sales of the top 100 companies. While almost all the Swiss companies continued to grow, Swatch Group saw negative growth of 3% and dropped from 8th to 10th place in this year's ranking. At the same time, Swiss luxury watchmaker Richard Mille raced to the top of the 20 fastest-growing companies, recording impressive growth of 200%.
Zurich/Geneva, 4 November 2020
Deloitte’s net revenue increased by 5.0% in fiscal year 2020 despite the challenging market and the pandemic, exceeding half a billion francs for the first time. The professional services firm, employing around 2,000 people, has successfully navigated the crisis. As COVID-19 has acted as an accelerator in digitalisation, new business and talent models, the firm has supported its clients in their transformation projects. Deloitte remains cautiously optimistic for the ongoing fiscal year.
Zurich/Geneva, 26 October 2020
Despite the pandemic, Swiss watchmakers believe in-store shopping will prevail over digital platforms
The majority of Swiss watchmakers believe that bricks and mortar stores will remain the preferred sales channels for their products and will prevail over online in the coming years. This, despite the recent impact of the pandemic and accelerated digitalisation. In-store experiences are still viewed as an essential part of the customer journey, and companies are investing considerably in experiential brand marketing. Pessimism is rife among Swiss watch industry executives with 85% forecasting a grim outlook for the industry. Despite the challenging outlook, the industry is not complacent, prioritising omnichannel strategies, delving into the pre-owned market and shifting towards more sustainable and ethical ways of production.
Zurich/Geneva 22 October 2020
Deloitte CFO Survey: Loan defaults and cyberattacks represent the new major threats to Swiss companies
Swiss CFOs have identified payment and loan defaults as a serious risk for their companies for the first time. At the same time, cybersecurity has shot to the top of the list of concerns for Switzerland's CFOs. This is mainly due to the surge in digitalisation since the beginning of the pandemic and the increase in cyberattacks. CFOs are less pessimistic about the future than in spring of this year. However, a relative majority sees the economic outlook for the next twelve months as negative. Most companies do not expect turnover to return to pre-crisis levels until the third quarter of 2021.
Zurich/Geneva, 14 October 2020
One in two companies do not believe the Responsible Business Initiative will have an impact on their business
Companies in Switzerland are relatively relaxed about the Responsible Business Initiative which the Swiss will be voting on this November according to a recent Deloitte survey. Almost half of the CFOs surveyed do not expect it will have any substantial implications on their companies. However, they do believe that these implications will rather be negative than positive. Around a third of companies assume that they would need to adjust their risk management, strengthen internal controls and adapt the way they cooperate with suppliers. Whether or not the Swiss will vote for the initiative, companies will need to consider some of these measures. At the same time, companies need to emphasis greater transparency and a more systematic approach to reporting.
Zurich/Geneva, 12. July 2020
Power Up Switzerland: How businesses and policymakers can help the country regain its pole position post-COVID
Switzerland's model for success is under pressure - declining competitiveness and trivial gains in productivity were already posing challenges before the coronavirus crisis. Businesses in Switzerland need to seize the momentum generated by their exceptional location and state support and switch from crisis mode to sustainable growth mode as soon as possible. In addition to efficiency and costs, they must also strengthen their resilience and sustainability credentials. Deloitte Switzerland surveyed around 400 leading names from business, trade associations and politics about the success factors needed to power up Switzerland now and in the future. This new comprehensive report entitled, Power Up Switzerland reveals eight central areas where action is needed by both the state and companies to boost Switzerland’s competitiveness in the years to come.
The use of smartphone apps to combat the coronavirus outbreak has been widely discussed in recent weeks. By recording movement data, such an app could warn people if they have been in the vicinity of an infected person for a longer period of time. Just under two thirds (64%) of people of working age living in Switzerland support such an approach and 60% would also make their own movement data available for tracing infection chains via a smartphone. The Corona crisis seems to make people more open to digital technologies and new approaches.
Zurich/Geneva 12 March 2020
Switzerland loses out on global talent due to inflexible regulations – politicians and authorities need to act.
Is Switzerland still top of the list when it comes to attracting global talent? In a survey looking at the attractiveness of eight international business locations, Switzerland came last. This is because companies in Switzerland face complicated approval processes and unnecessary red tape when hiring individuals from abroad, and restrictive government regulations make it more challenging to prevent successful international university graduates from leaving the country. At the same time, the baby boomer generation is starting to leave the workforce, worsening the shortage of skilled workers. Lean, modern regulations that favour young and highly talented people, making it easier for certified companies to hire the talent they need, are some of the measures that Switzerland should consider to maintain its international competitiveness. In addition, Switzerland needs to digitalise and streamline work permit approval processes across the country to guarantee more efficiency.
Zurich/Geneva/Lucerne, 2 March 2020
Do companies in Switzerland accept their corporate responsibility? Four out of five board members state that this topic embedded in the corporate strategy. However, two out of five do not appear to have sufficient resources and expertise to successfully implement the topic. The current swissVR Monitor-with responses from 429 board members-demonstrates that only around half of the companies involved have clearly identified the subject areas that are important to them. The assumption of corporate responsibilities clearly focuses on employees, followed by customers and then, at a distance, followed by nature and the environment. There are also quite a few sceptical voices on this topic: A quarter of those surveyed believe that their only real responsibility is to make a profit and increase the value of the company.
Zurich/Geneva, 20 February 2020
Deloitte’s Global Powers of Retailing: Swiss retailers remain firmly in the global top 250 – sector outlook uncertain
The Top 250 global retailers generated aggregated revenues of USD 4.74 trillion in fiscal year 2018, representing composite growth of 4.1%, according to Deloitte’s Global Powers of Retailing 2020.
Zurich/Geneva, 18 November 2019
CFOs of Swiss companies expect increased pressure on their margins and a weakening economy. According to the latest Deloitte CFO Survey, just under half of the companies expect higher sales for the coming year – six months ago, that figure was more than two thirds. Uncertainty is rated as particularly high in Germany and the UK, which is putting pressure on all of Europe: Expectations for margins, investments, and staffing levels have all turned negative. The majority of Swiss CFOs even expect a recession in the Eurozone. And fewer and fewer are expecting negative interest rates to end anytime soon.
Zurich/Geneva, 14 November 2019
The Swiss population is ageing. By 2030, the Swiss labour market is likely to face a shortage of up to half a million workers. One solution is to make better use of the potential represented by the 50+ age group. According to a new Deloitte study on the ageing workforce, 40% of workers currently aged between 50 and 64 would actually like to continue working beyond retirement age. Yet very few assume that they will do so. Swiss companies, along with the government and the employees themselves, need to take action to bridge this gap.
Zurich, 28 October, 2019
Following the success of the inaugural inHR award last year, the three innovative and forward-thinking Swiss HR projects that have won the 2019 award have now been announced. The inHR award, which is presented in three categories and recognizes individuals and teams who perform pioneering work in HR, went this year to VBZ, Roche, and SwissRe.
Zurich/Geneva, 5 October, 2019
Deloitte Switzerland continues on its growth path and to invest in skills, technology and new services
Deloitte Switzerland has increased its net revenue by 1.3%, from CHF 475 million to CHF 481 million, in the fiscal year ending 31 May 2019 (FY19). This marks the continuation of Deloitte’s growth path over the last decade, as the professional services firm continues to invest in its audit footprint, each of its businesses, and its people. The firm’s Audit & Assurance, Consulting, Financial Advisory, Risk Advisory and Tax & Legal business areas all contributed to the firm’s performance. Among the sectors driving Deloitte’s growth were industrial products, consumer, life sciences and health care, and insurance.
Zurich/Geneva, 25 October 2019
Swiss CFOs call on Parliament to ensure sustainable relationships with the EU and to safeguard social security
According to a survey conducted by professional services firm Deloitte, CFOs of Swiss companies have clear priorities for the newly elected Parliament: establish sustainable relationships with the EU and ensure long-term market access abroad for Swiss companies, as well as reform Switzerland’s social security system.
Zurich, 25 August 2019
Swiss boards pressing ahead with digitalisation – high costs and ethical issues though pose challenges
Digitalisation has clearly become a priority topic for the boards of directors in Swiss companies: More than four out of five board members see opportunities to create new business and increase sales. However, substantially more than half of them state that they are spending a lot of money on digital transformation, which is reducing profitability. The new edition of swissVR Monitor – a bi-yearly survey gauging the attitudes of nearly 400 board members in Switzerland towards current matters of relevance to boards – clearly shows that the digitalisation of organisations is being driven from the top. Nonetheless, one third of the board members surveyed feel that progress was too slow, and four out of five of them feel they lack the relevant know-how. Board members also believe that digitalisation elicits an elevated security risk such as cyber-attacks. Whether boards pay enough attention to the ethical questions of digitalisation is debatable.
Zurich, 28 June 2019
Swiss millennials: Growing up in a constantly transforming world makes them pessimistic and less confident
Facing continuous technological and societal disruption, millennials are somewhat disillusioned with traditional institutions, sceptical of business’ motives and pessimistic about economic and social progress according to the Deloitte 2019 Millennials Survey. The report is based on the views of 13,416 young people from 42 countries aged between 24 and 35. In Switzerland 319 millennials participated. Despite growing prosperity and a diversity of opportunities, younger generations seem to be wary about the world and their place in it. Many millennials’ ambitions have changed, but they remain hopeful and lean on their values as both consumers and employees.
Zurich, 7 May 2019
According to the latest Deloitte CFO Survey, Swiss CFOs are more and more pessimistic about the country’s economic outlook. Geopolitical risks and weak demand are their current biggest concerns. Yet CFOs remain optimistic overall: they want to keep on investing and growing. This also holds true for CFOs’ expectations of financial prospects for their own companies – down slightly, but predominantly good in Switzerland. The expectations of CFOs in other European countries are comparatively bleaker. The Eurozone’s catching-up process after the long weak phase is nearing the end.
Zurich, 2 May 2019
Following the resounding success of the inaugural inHR award in 2018, its initiators have now launched the 2019 edition and are calling for entries from the Swiss HR community. The inHR award recognises pioneering HR work by individuals and teams at organisations in Switzerland. Entries for this year’s award can be submitted between 1 May and 30 June 2019. The award ceremony will take place in Zurich on 23 October.
Zurich/Geneva, 30 April 2019
It’s not just about pay: employee journeys based on age groups can improve the attractiveness of Swiss employers
The Swiss labour market is undergoing continual structural change, with roles and occupations changing and, with them, the demands made on workers. But also the needs, attitudes and motivating factors of the workforce are shifting. To recruit and retain staff in an increasingly competitive labour market, companies need to make better use of so far unexploited pools of labour and ever more to tune in the voice of the workforce.
Zurich/Geneva, 17 April 2019
Global Powers of Luxury Goods: Swiss luxury companies are taking the digital path to accelerate growth
Despite the recent slowdown of economic growth in major markets including China, the Eurozone and the US, the luxury goods market looks positive. In FY2017, the world’s Top 100 luxury goods companies generated aggregated revenues of USD 247 billion, representing composite sales growth of 10.8%, according to Deloitte’s 2019 edition of Global Powers of Luxury Goods. For comparison, in FY2016 sales were USD 217 billion and annual sales growth was as low as 1.0%. Three-fourth of the companies (76%) reported growth in their luxury sales in FY2017, with nearly half of these recording double-digit year-on-year growth.
Zurich/Geneva, 11 March 2019
Deloitte Private launched to serve growing market of family businesses, family offices and private equity firms
Switzerland is a globally unique market for privately owned organisations: rich in family-owned businesses, it also has a strong heritage of family offices and high net worth individuals (HNWI), and the private equity (PE) segment is growing in size and significance. To better address the needs of the private sector, Deloitte Switzerland has launched Deloitte Private – a dedicated practice that provides integrated advisory and assurance services to private entities.
Zurich/Geneva, 14 February 2018
The digitisation of the business world and the world of work is changing the skills needed at the workplace. Also, as the average life expectancy rises, the length of our working lives is likely to increase in the long term. Workers must adapt, retrain and upskill to keep pace. Lifelong learning has become imperative.
Zurich/Geneva, 30 January 2019
Reto Savoia has been elected as and will be appointed Chief Executive of Deloitte Switzerland, effective 1 June 2019. He will succeed Simon Owen who has been serving as CEO since early 2016. Reto is currently Deputy CEO and Managing Partner, Clients & Industries, and has been working alongside Simon and his Executive on transforming and growing Deloitte’s Advisory and Audit businesses in the Swiss market.
Zurich/Geneva, 21 January 2019
In fiscal year 2017, the top 250 global retailers generated aggregated revenues of USD 4.53 trillion, representing a composite growth of 5.7%. Over four fifths (83%, 208 companies) of the group posted positive revenue growth. Deloitte’s Global Powers of Retailing identifies the 250 largest retailers around the world based on publicly available data for FY2017
Zurich/Geneva, 18 January 2019
Alessandro Miolo has been appointed Managing Partner for Deloitte Switzerland’s Audit & Assurance business as the professional services firm seeks to continue its growth and impact in the Swiss marketplace.
Zurich, 19 December 2018
More and more people in Switzerland are relying on their smartphone to shop, pay and transfer money: 74% use their phone to get product information at least occasionally, 59% make purchases directly on their smartphone, 40% use the smartphone to pay travel fares, and 27% to pay in shops. The Deloitte survey of 1,000 people further shows that 65% of the population use their smartphone for banking transactions at least occasionally. Young people tend to use the smartphone a lot more often than the 50+ generation. International comparisons indicate that people in Switzerland are still cautious. In order to capitalise on these trends, financial institutions and retailers must invest consciously.
Friday, 14 December 2018
Zurich, 11 December 2018
Huge potential of older workers to close labour gap – but 1/3 of companies see them as competitive disadvantage
Digitisation is increasingly forcing employees to develop new and different skills. Demand is growing for employees with highly developed skills in the areas of creativity, social intelligence and digital technology. Some sectors, including ICT and health, are already finding it difficult to find staff. What’s more, the demographic change of an ageing workforce is amplifying the emerging labour gap.
Zurich, 15 November 2018
The Global Mobile Consumer Survey conducted by Deloitte in Switzerland of over 1,000 consumers and 56,000 people in 34 other industrial and emerging countries found that 92% of all adults in Switzerland own a smartphone, 97% of whom use their device every day.
Zurich, 13 November 2018
Swiss CFOs foresee a decline in the economic outlook for the first time in more than three years. The main reasons being looming international tensions and the potential impact of the Swiss franc increasing in value. These indicators must also give pause for thought in the international context. All this and more is revealed in the 35th edition of the biannual CFO Survey by Deloitte.
16 October 2018
Deloitte pledges support to Standards of Conduct for Business in Tackling Discrimination against Lesbian, Gay, Bi, Trans, and Intersex people
Deloitte is a proud signatory of the United Nations’ Standards of Conduct for Business to help tackle discrimination against lesbian, gay, bi, trans, and intersex (LGBTI) people.
These standards are consistent with the Global code we hold ourselves to at Deloitte: we respect human rights and do not tolerate harassment or unfair discrimination.
Zurich, 28 August 2018
In the fiscal year ending 31 May 2018, Deloitte Switzerland increased its net revenue by 8.2%, from CHF 439 million to CHF 475 million, marking the continuation of Deloitte’s exceptional growth path over the last decade. The firm’s Audit & Assurance, Consulting, Financial Advisory, Risk Advisory and Tax & Legal business areas all contributed to the strong performance. Among the industries driving Deloitte’s growth in FY18 were consumer & industrial products, life sciences and financial services.
Zurich, 26 August 2018
swissVR Monitor II/2018 - Swiss board members: Fixed remuneration is the norm, performance-based the exception
Boards of directors bear the long-term strategic responsibility for a company. In Switzerland, most board members receive fixed remuneration for their work. Variable remuneration dependent on business results or the board member’s personal performance is relatively rare. According to the latest edition of swissVR Monitor, the time required for the fulfilment of duties is the most frequently cited criterion for deciding pay. When it comes to their remuneration, board members are all for transparency: 89% of the 344 Swiss Board members surveyed disclose full details of remuneration within the board, while 70% are in favour of a detailed disclosure to shareholders. The survey results paint an encouraging picture: the prevalence of fixed remuneration and emphasis on transparency are in line with modern corporate governance guidelines.
Zurich, 9 August 2018
According to a survey conducted by professional firm Deloitte, 62 percent of Swiss consumers use a loyalty programme at least once a week, such as Cumulus, Supercard or IKEA Family. Nevertheless, just over one-third (36%) of respondents seldom or never use their points for discounts or benefits. Today's customer loyalty programs must therefore offer more than just collecting points. What seems to be crucial is the overall experience, including interest for consumers, as well as providing tailor-made offers and targeted communications. New digital technologies can also help improve customer interaction and make it more responsive.
Zurich/Geneva, 16 July 2018
Women are underrepresented in the cyber security workforce in Switzerland and worldwide. At the same time the industry is facing a growing global shortage of cyber security professionals. To help organisations bridge this gap, the professional services firm Deloitte launches a Women in Cyber initiative across Europe, Middle East and Africa (EMEA) that brings together clients, experts and colleagues in pursuit of achieving gender parity in cyber security.
Zurich, 12 July 2018
The workplace of the future is flexible and connected – but managers are still failing to set a good example
Almost a quarter of office workers in Switzerland have to find their own workspace in their employer’s offices first thing in the morning, and two-thirds work outside of the office at least part of the time. The increasing flexibility in Swiss offices is a reaction to changing working environments, which are becoming ever more knowledge-intensive, creative and connected. However, it is still the case that the working environment, available technologies, and above all the corporate culture frequently lag behind.
Zurich, 7 June 2018
European football market exceeds €25 billion for the first time as the ‘big five’ leagues continue to drive growth
The European football market has exceeded €25bn in revenue for the first time, according to the 27th Annual Review of Football Finance from the Sports Business Group at Deloitte. The 4% increase from 2015/16 was predominantly driven by the ‘big five’ European leagues, which saw combined revenues grow by €1.3bn (9%) to €14.7bn in 2016/17. Growth was not restricted to those biggest leagues, however, with non-big five leagues also seeing revenue increases, but at an inferior rate to that seen in England, France, Germany, Italy and Spain.
Zurich, 23 May 2018
Zurich, 23 May 2018. To provide a platform for innovative HR projects in Switzerland, a new award – the inHR award ("innovative HR") – has been established by Deloitte Switzerland, the Neue Zürcher Zeitung (NZZ), SAP Switzerland and the University of St. Gallen. This award gives recognition to pioneering work in the area of HR by individuals or teams. The entry period for submissions runs from today until 31 July 2018. The awards will be presented in Zurich on 25 October 2018.
Zurich/Geneva, 21 May 2018
The world’s 100 largest luxury goods companies generated sales of US$217 billion in FY2016, but have been growing at a slower pace than in previous years: The average growth rate stands at 1%, which is 6pp lower than one year earlier, according to the annual Global Powers of Luxury Goods report issued by Deloitte. Switzerland remains one of the strongest luxury goods markets, with three companies in the top 12, excelling especially in luxury watch-making.
Zurich, 18 May 2018
2018 marks the sixth consecutive year that the industry-leading tax publication International Tax Review names Deloitte Switzerland “Tax Firm of the Year”. Deloitte Switzerland was also chosen as “Transfer Pricing Firm of the Year” for the sixth time in the last seven years. Winning these awards stands testimony to the quality and sustainable success of the tax and legal practice of Deloitte Switzerland.
Zurich, 11 May 2018
Switzerland remains the world's largest wealth management centre for international assets. But the air is getting thinner at the top, and other financial hubs are gaining ground. According to the latest Deloitte Wealth Management Centre Ranking, a total of USD 1.84 trillion of international assets were managed in Switzerland at the end of 2017.
Zurich, 03 May 2018
Deloitte report: Nine out of ten Swiss business and HR leaders see artificial intelligence, people data and connected workplace as top trends
Amid concerns about automation, the need for new skills, an aging workforce and tightening labour markets, the make-or-break issue facing companies these days is the need for realignment among the C-suite to focus on business’ evolving role in wider society. In its 2018 Global Human Capital Trends report, “The Rise of the Social Enterprise,” Deloitte also examines the increasing expectations of the individual, how the C-suite itself must now operate as a team and the breathless pace at which technology is shaping organisations’ human capital priorities.
Zurich, 22 March 2018
The professional services firm Deloitte North West Europe (NWE) today announces the appointment of Rob Wainwright as a senior partner in its European cyber security practice, where he will help lead and grow the team and business with clients. He will also be engaged in areas of related risk, such as financial crime and fraud. Rob will join the firm in June 2018 and whilst he will continue to be based in the Netherlands, he will work with clients across Europe including Switzerland.
Zurich, 08 March 2018
In celebration of International Women’s Day and as a member of the Advance Women in Business initiative, Deloitte Switzerland expands its ambitions to not only achieve a 30% female leadership by 2020 but furthermore to increase the number of women in technology roles by 5% within the next year.
Zurich, 18 February 2018
Latest Swiss board of directors’ survey shows a clear call for more diversity and digital know-how in the boardroom
Diversity is the top priority for new appointments to the boards of Swiss companies: this includes new skills, different experience, and diverse personalities as well as digital savvy. The latest issue of the Swiss board members’ survey swissVR Monitor also reveals that the workload is increasing for decision-makers on board level and that their tasks are becoming more diverse. According to the 448 Swiss board members surveyed, staffing issues and compliance in particular have become increasingly important topics. When it comes to their outlook for the Swiss economy, board members are quite positive.
Zurich, 12 February 2018
Professional services firm Deloitte Switzerland has appointed a new senior Audit & Assurance partner: Alessandro Miolo joined the firm on 1 February 2018. Deloitte’s dynamic Audit & Assurance practice is well-positioned in the market as last year’s major audit mandate wins of Panalpina and LafargeHolcim clearly indicate. Playing a key role in the Audit & Assurance team, Alessandro will help further build Deloitte’s CFO and Board networks, widen its scope of assurance services and develop the audit of the future. Deloitte continues to deploy cutting-edge technologies to deliver a more meaningful audit.
Zurich, 30 January 2018
Professional services firm Deloitte Switzerland has named Andrew Winters as the new Managing Partner, Risk Advisory, effective 1 January 2018. He has joined the Swiss practice from Deloitte UK and has been appointed as a member of the Swiss Executive team. His appointment alongside Marc Grueter, who joined the firm as partner in December 2017, underlines the firm’s ambitions to further strengthen its Risk Advisory practice.
Zurich, 23 January 2018
The 20 highest earning football clubs in the world generated €7.9bn of revenue in 2016/17, an increase of 6% on the previous year, according to the 21st edition of the Football Money League from Deloitte, the business advisory firm.
Zurich, 15 January 2018
The Top 250 global retailers generated aggregated revenues of USD 4.4 trillion in fiscal year 2016*. This represents a composite growth of 4.1%, according to the Global Powers of Retailing 2018 report from Deloitte. Europe’s share of Top 250 revenues dropped from 39.4% to 33.8% in just 10 years. The gap versus North America is widening and retailers from Asia are gaining ground. In contrast to this, the four Swiss retailers listed in the report all moved up.
Zurich, 19 December 2017
RegTech is the future of banking: Deloitte and Finform automate the process of opening customer bank accounts
The Swiss fintech pioneer and automation specialist Finform and the compliance experts from professional services firm Deloitte Switzerland are joining forces to simplify financial service providers’ compliance processes. The integration of the range of regtech services offered by Deloitte Managed Services and Finform makes it possible to almost completely automate the process of opening customer bank accounts (KYC).
Zurich, 16 November 2017
Digital payment in Swiss retail: Majority of customers already use self-checkout in supermarket, mobile payment on the rise
Paying by smartphone is becoming more and more fashionable in Swiss retail: 17% of Swiss consumers already pay by smartphone and almost as many want to try it out soon. Twint, Apple Pay and Co. still account for only a low share of retail sales, though. The new study conducted by professional services firm Deloitte “Goodbye wallet, hello smartphone?” also shows that the majority of Swiss consumers scan their products themselves, using automated systems to pay for their shopping. Over two thirds of surveyed consumers use self-checkouts, and more than one fifth even every time they visit a supermarket.
Zurich, 14 November 2017
Deloitte CFO Survey: Swiss CFOs expect a boom – European firms hopes for a swifter interest rate policy change
Prospects for Swiss companies and the economy are better than at any point since the franc shock. The latest CFO Survey conducted by professional services firm Deloitte shows one record figure after another: Swiss CFOs assert that company revenues, margins and investments are all on the rise, and the economy as a whole is further reinvigorated. Among our European neighbours, companies in France appear particularly fired up. Also, CFOs in the eurozone are less than impressed by the European Central Bank’s interest rate policy. Meanwhile, UK indicators are pointing downwards.
Zurich, 27 September 2017
According to the Deloitte Swiss Watch Industry Study 2017, digital is at the heart of the Swiss watchmakers’ business strategies. Optimism is back; more than half of watch executives surveyed are optimistic about the future of the Swiss watch industry for the next 12 months, compared to only 2% last year. The market remains challenging, but the industry is tackling its transformation with Digital, Swiss made legislation, the introduction of new products and Smartwatches as ingredients of the change.
London, 14 September 2017
Deloitte Global today reported aggregate member firm revenue of US$38.8 billion for the fiscal year ended 31 May 2017 (FY2017), representing a 7.1 percent revenue increase in local currency terms or a US$2 billion revenue increase and 8.3 percent two-year CAGR.
Zurich, 29 August 2017
The professional services firm launches its Annual Review for 2017. In a market characterized by economic uncertainty, regulatory change and digital transformation, Deloitte’s ability to solve complex problems for clients has led to growth in each of its five core businesses. This Swiss practice has increased net revenue by 13%, to CHF 438 million, in the fiscal year ended 31 May 2017. The firm’s decade-long double-digit growth trajectory continues to be driven by the impressive performance of its Advisory services, supported by a strengthening position in both Audit & Assurance and Tax & Legal. Deloitte continues to invest energetically in the next generation, having launched a number of new solutions, established various landmark market alliances and created over 130 new jobs in Switzerland.
Zurich, 26 August 2017
Optimising processes is still the top priority for the board members of Swiss companies, according to the latest swissVR Monitor, a survey conducted every six months by swissVR in collaboration with Deloitte and the Lucerne University of Applied Sciences and Arts. Boards are though giving more and more attention to digitalisation and talent topics.
Zurich, 25 July 2017
Switzerland's CFOs continue to send out positive signals. According to the current summer edition of the Deloitte CFO Survey, they are predominantly upbeat about the prospects for the economy and the success of their own companies. Swiss CFOs' expectations on their corporate indicators in the 12 months ahead are confident, while the outlook for new investment and higher employee numbers has also improved. In particular, investments in digital business models and in promoting employees' digital skills are being stepped up – although at the same time digitalisation is increasingly perceived as a risk.
Zurich, 12 July 2017
Digital payment systems gaining ground: 42% of Swiss consumers want to pay using their mobile phone in the future, while 64% want to use self-checkout machines
Clearly the importance of digital devices for buying and paying for products is increasing apace. A new study by Deloitte on the impact of digitalisation on customer behaviour in Swiss retail provides evidence for this trend.
Zurich, 28 June 2017
The digital consumer: Almost one-third of Swiss retail sales influenced by the use of digital devices
Digitisation has had a significant impact on customer behaviour in Swiss retail in the last few years. Product sales are increasingly shifting to the internet, generating high growth rates in online sales: in 2016, the value of the merchandise bought online in Switzerland rose by 6.1% to CHF 6.5 billion. Although online sales still account for a relatively modest 7% of overall retail sales in Switzerland, the trend is on an upward trajectory.
Zurich, 13 June 2017
RegTech, the future of banking: Deloitte and Appway launch collaboration on out-of-the-box compliance solutions
Appway, the Swiss-based global software company, and compliance expert and leading professional services firm Deloitte Switzerland have partnered up to launch four managed services offerings. This collaboration combines the best of digitization and regulatory expertise to offer innovative and reliable RegTech solutions to the Swiss financial services industry.
Zurich, 19 May 2017
2017 marks the fifth consecutive year that the industry-leading tax publication International Tax Review (ITR) has named Deloitte ʺTax Firm of the Yearʺ in Switzerland. Deloitte was also chosen as "Transfer Pricing Firm of the Year" for the fifth time in the last six years.
Zurich, 18 May 2017
Europe’s chief financial officers (CFOs) are reporting higher levels of optimism, increased risk appetite and a shift towards more expansionary business strategies, according to Deloitte’s latest European CFO Survey.
Zurich, 16 May 2017
Switzerland remains one of the global leaders in luxury goods thanks to its resilience and brand heritage
Consumers in emerging markets such as China, Russia and United Arab Emirates continue to drive luxury market growth with 70% of consumers claiming to have increased their spending in the last 5 years, compared to 53% in the more mature markets (EU, US and Japan).
Zurich, 11 May 2017
Automation is changing the way we work – so how can the Swiss workforce, companies and educational system adapt?
According to the latest Deloitte study on the impact of automation on the Swiss economy, more jobs have been created than lost thanks to automation in the past 25 years. This trend is likely to continue and the structural transformation of the job market will also likely accelerate.
Zurich, 5 May 2017
Swiss CFOs continue to be optimistic about economic prospects and about their own companies' performance. The spring 2017 edition of the Deloitte CFO Survey thus shows a trend that has now stayed intact for two years.
Zurich, 31 March 2017
On February 12 2017, the Swiss electorate rejected the Corporate Tax Reform III (CTR III) in its proposed form. On the occasion of the quarterly CFO Survey of Deloitte, more than 100 Chief Financial Officers (CFOs) in Switzerland were asked shortly after the vote what they now expect from a revised tax reform.
Zurich, 22 March 2017
The Swiss economy is among the most innovative in the world. Digital transformation and the drive for innovative products and services could be a unique opportunity for Switzerland. The Swiss business location has the potential to take advantage of digitalisation and become significantly more competitive and future-ready. Companies are well placed to meet the requirements and challenges of digitalisation and make the most of the opportunities. The Deloitte industry study ‘Digital future readiness’ shows, which key skills and changes, are needed for companies to facilitate the digital transformation.
Zurich, 8 March 2017
The benefits of gender mixed leadership teams are well known: higher productivity, more innovation power, longer-term business impact and sustainability in our workplaces. In March 2017, for the first time in Switzerland, up to 40 CEOs and leaders united under the Advance Women in Swiss Business umbrella to publicly commit to concrete gender equality goals.
3 February 2017
Deloitte CIO Survey: Pressure on IT departments to drive innovation mounting, yet CIOs not fully equipped to deliver
Swiss IT leaders must start into 2017 by vigorously driving innovation and adopting a more strategic role in their organizations. According to the latest Deloitte CIO Survey, 59% of CIOs surveyed in Switzerland state that the priorities for their IT organisation have clearly shifted. The demand within organizations for technology-enabled innovation is far higher than ever before.
18 January 2017
Deloitte in Switzerland has secured Prime 2, a new development in the Zurich Hardbrücke business area right next to the Prime Tower, as its new flagship Swiss headquarters. Deloitte is the leading anchor tenant of the new building, which is due to be completed around 2020. The new headquarters will support Deloitte’s bold growth ambitions as well as the firm’s flexible and innovative ways of working.
16 January 2017
The top 250 global retailers generated aggregated revenues of US$4.31 trillion in fiscal year 2015, representing composite growth of 5.2 percent, according to the Global Powers of Retailing 2017: The art and science of customers report from Deloitte Global.
10 January 2017
The economic upturn seen in recent quarters is continuing its trend.
19 December 2016
Since the beginning of the current financial year (start 1 June 2016), Deloitte has launched various initiatives and new policies to strengthen the firm’s talent agenda.
15 November 2016
Despite continued uncertainty and concerns about the economic and business environment, Europe’s chief financial officers (CFOs) remain optimistic about the potential for their businesses in the coming year, according to Deloitte’s latest European CFO Survey.
31 October 2016
For the first time since the floor on the franc exchange rate was abandoned, more than half of Switzerland’s CFOs are optimistic about their companies' financial performance.
27 October 2016
Automation is transforming the industries of the Swiss economy, creating employment and innovation opportunities
Deloitte’s latest report on automation, Transforming the Swiss economy, shows that automation will continue to have an overall positive impact on the Swiss labour market. While some jobs will be replaced, many more new jobs will be created as automation cuts the cost of many goods and drives up wages, increasing demand and creating employment.
17 October 2016
Fintech needs Regtech: To reduce costs and drive innovation, financial institutions need to break down value chain
In today’s complex and rapidly evolving landscape, financial service providers face more compliance burdens than ever before. The rising costs and complexity of building and maintaining market-specific regulatory processes are a significant challenge for Swiss banks and asset managers – next to the cost and innovation challenges they are already facing. Working closely with established partners, Deloitte has launched a new platform to automate and outsource regulatory processes: Deloitte Managed Services.
04 October 2016
Deloitte targets accelerated growth with additional €200m investment in the creation of North West Europe firm
Deloitte today announces that its Belgian, Danish, Dutch, Finnish, Icelandic, Norwegian and Swedish member firms will combine with the UK and Swiss firm to create Deloitte North West Europe. The move will see Deloitte invest an additional €200m over the next three years in its capabilities across the region to enhance its service to its global, national and private market clients and to create the best development opportunities for its people.
28 September 2016
Apple® and Deloitte today announced a partnership to help companies quickly and easily transform the way they work by maximizing the power, ease-of-use and security the iOS platform brings to the workplace through iPhone® and iPad®. As part of the joint effort, Deloitte is creating a first-of-its-kind Apple practice with over 5,000 strategic advisors who are solely focused on helping businesses change the way they work across their entire enterprise, from customer-facing functions such as retail, field services and recruiting, to R&D, inventory management and back-office systems.
27 September 2016
According to the Deloitte Swiss Watch Industry Study 2016, the number of watch executives who are pessimistic about the outlook for the Swiss watch industry has doubled since 2015, peaking at 82%. Weaker foreign demand poses the key challenge at the moment – and the industry believes this will remain in the next 12 months.
30 August 2016
Deloitte in Switzerland has increased gross revenue by 24% to CHF 660 million in the fiscal year ended 31 May 2016. The sixth consecutive year of double-digit percentage growth was driven by the significant success of the firm’s Advisory services and continued strong performance within its Audit and Tax & Legal practices. To maintain this level of growth and the positive impact on its clients, Deloitte is investing heavily in the next generation, creating new jobs and innovative service offerings in the process.
25 July 2016
For the first time since the end of 2014, a majority of Swiss CFOs rate the Swiss economic prospects over the next 12 months as positive. According to the latest Deloitte CFO Survey, the CFOs think that the financial prospects for their companies will remain bright too.
21 June 2016
Concerns about the consequences of the UK potentially leaving the EU have now reached company managers in Switzerland.
31 May 2016
Global luxury brands need to respond smartly to new key market forces and raise their game when serving the evolving expectations of the luxury consumer, according to the third annual Global Powers of Luxury Goods report issued by Deloitte.
27 May 2016
The International Tax Review (ITR) has named Deloitte ʺTax Firm of the Yearʺ for the fourth year in a row. Deloitte was also chosen as "Transfer Pricing Firm of the Year", clearly marking the impact of the firm’s tax and legal advisory services in Switzerland.
25 May 2016
Deloitte’s Debt & Rating Advisory practice aims at facilitating funding access, increasing funding capacity and optimizing funding costs for companies of all sizes, as well as helping corporates manage their public ratings – all key pillars of a company’s business development and success.
11 May 2016
Majority expect little to no effects on their own companies from possible TTIP or Brexit, but see the end of the Schengen agreement as possible threat.
21 March 2016
Simon Owen has been appointed the new Chief Executive for Deloitte in Switzerland, effective 1 April 2016. He will succeed Howard Lovell who, after a career of more than 30 years in professional services, retires from Deloitte at the end of May.
17 February 2016
Workplace of the future: 28% of Swiss workforce work from home, 25% as freelancers – and the trend is on the rise
According to a new study by Deloitte, one in four Swiss citizens currently work as freelancers. Of the remaining 75%, one third would like to do so in the next year. The rise of the sharing economy – which incites people to offer and provide services via online platforms – is the main driver of the freelancing trend. At the same time, knowledge-intensive careers and mobile working are becoming increasingly important.
8 February 2016
KMU weiterhin Motor des Schweizer M&A-Marktes trotz insgesamt deutlichen Rückgangs der Transaktionen
Das Jahr 2015 wurde global von einer Rekordzahl von Übernahmen und Fusionen geprägt, allerdings unter stark rückläufiger Beteiligung Schweizer KMU (-19%). Gleichwohl sind innerhalb der Schweiz mehrheitlich KMU an M&A-Aktivitäten beteiligt. Schweizer Small- und Mid Cap-Unternehmen konnten ihre Bewertungen trotz eines turbulenten Jahres auf einem sehr hohen Niveau halten – gar dem höchsten seit 2008.
21 January 2016
The 20 highest earning football clubs in the world generated €6.6bn of revenue last season, an increase of 8% on the previous year, according to the 19th edition of the Football Money League from Deloitte, the business advisory firm.
19 January 2016
Top global retailers enjoy a year of revenue growth despite a bumpy economic environment and digital disruption
The top 250 global retailers generated aggregated revenues of USD 4.5 trillion in fiscal year 2014, representing a steady growth of 4.3% compared with 4.1% in 2013, according to the Global Powers of Retailing 2016 from Deloitte. This is a positive signal for the industry, which had witnessed revenue declines in previous years.
14 January 2016
Uncertainty overshadows outlook for 2016, though Swiss CFOs look to move forward and focus on growth
Almost one year after the Franc shock, Swiss CFOs remain downbeat about the outlook for the country’s economy. They do have an increasingly brighter outlook for their own companies, as the latest edition of the quarterly Deloitte CFO Survey reveals.


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BEIJING, China—As if the complexity of mobile wallet offerings in the wake of Apple Pay and Samsung Pay weren’t enough, there’s a new wrinkle in e-wallets that is likely on its way to the U.S.: an e-wallet account that pays interest.
ARLINGTON, Va.-State regulators have offered their feedback to what their federal counterparts have planned.
ST. PETERSBURG, Fla.—Apple Pay’s launch has led to a rash of moves within the mobile payments space that are leading to consumer confusion over payment options, according to analysts who are predicting that some convergence is in the offing.
NEW YORK CITY—What’s love got to do with it? A lot, according to Mollie Bell, chief innovation officer with the Filene Research Institute. Bell told PSCU’s MoPRO meeting here that love for the credit union business model and what it means to people—especially Millennials—will be critical for future growth. But she also made clear that love alone cannot conquer all.
NEW YORK—Credit unions were offered “lessons in protecting the online channel” by the former CIO of the White House.
LOMBARD, Ill.—With “reasonably good results” from 2014 behind them, financial institutions in 2015 will need to watch several ongoing issues, such as regulatory burden and the changing role of the branch, and pay attention to escalating challenges—declining income from overdrafts and debit cards.
ORLANDO—NACUSO presented its 2015 Collaboration & Innovation of the Year Award to both a CUSO and a credit union at its meeting here.
LAKE MARY, Fla.—After acquiring Harland Financial Solutions more than a year ago, D+H reports that the company’s U.S. business is prospering.
HAUPPAUGE, N.Y.—One automotive lending expert sees leasing as a good way for CUs to beef up their loan portfolio as well as the percentage of Millennials within the membership.
PAPILLION, Neb.—SAC FCU contends that in the fight against fraudsters, a credit union simply can’t do it alone.

domain: news


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Promoting Britain to Chinese tourists
Updated: 2013-07-01 15:40
By Liu Xiaozhuo (chinadaily.com.cn)
A cumbersome visa application process, a lack of Chinese tourism-related products and passive promoting are the main reasons Britain lags behind other European countries in terms of attracting Chinese mainland tourists, according to a Travelzoo report, the New York-listed online supplier of travel deals.
According to Jason Yap, CEO of Travelzoo Asia-Pacific, 1.15 million Chinese tourists went to France, and 180,000 to Britain last year. Favorite destinations for Chinese mainland outbound tourists include Australia, Maldives, Thailand, Taiwan, America, Italy, New Zealand, France, Switzerland and Japan. Britain is listed at 18 on the list. It was also reported that Chinese tourists spend 102 billion dollars overseas every year, with only 1 percent of that figure going to Britain.
Yap pointed out that if Britain does not take active measures like joining the Schengen Agreement to improve its current situation, it will lose the tourism race with France, Germany, Italy and other European countries. And the British tourism industry will suffer a loss of 1.5 billion dollars every year due to its deficiency of Chinese tourists who carry with them huge purchasing power.
The largest obstacle for Chinese tourists going to Britain is the difficulty behind the visa process. On one hand, it is a time and money consuming process. It takes Chinese applicants 15 days on average to receive a British visa, while only 10 days for a French visa. The British visa is 50% more expensive than that of France.
On the other hand, applicants can only go to Britain with a British visa as Britain is not in the Schengen Agreement.
Furthermore, the British Consulate does not have the same service consciousness as France does. Nor does it have offices in China’s second-tier cities.
As a result, Chinese travel agencies are trying to avoid sending tourists to Britain. CITS, the biggest travel agency in China, sent only 10,000 Chinese tourists to Britain last year, according to the CEO of CITS, Yu Ningning.
Recently, Britain has been trying to simplify the visa application process for Chinese tourists according to a Financial Times report.
Besides the visa application issue, the British tourism industry needs to improve the design and promotion of tourist products to address Chinese travel habits and requirements. Chinese tourists usually go abroad during the Spring Festival and National Day holidays.
Instead of spending leisure time in one place, they prefer to visit several places in one trip. Britain has been advised to increase tourist spots in England, North Ireland and Scotland together to attract more Chinese visitors.
On top of all this, it is not enough to attract Chinese tourists with only Big Ben or the Eye of London.
Britain needs to take full advantage of their cultural and tourist attractions that are very popular among Chinese people, such as universities like Oxford or its famous sport star, David Beckham.


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It’s just been announced that a fleet of super-fast charging points for electric vehicles will be installed along the UK’s main motorways. Which? Conversation community member Ian asks if this will be enough to encourage you to make the electric shift…
The new network of charging points will be set up by the National Grid. It has been busy mapping the country’s motorways and transmissions networks to identify 50 sites to ensure that 90% of drivers can drive in any direction from any location, and be within 50 miles of a charging point.
The super-fast charging points for electric vehicles will provide up to 350kW of power, meaning that drivers can charge their cars in 5 to 12 minutes – a comparable time to filling a car up with petrol or diesel.
National Grid says that ‘range anxiety’ is the top reason for drivers not buying an electric car, and it hopes this new network will offer drivers reassurance – but will it be enough for you?
Is cost a concern?
While charging points become more readily available, I think cost may still be stopping many from getting behind the wheel of an electric car. But Stanford University lecturer Tony Seba, who has extensively researched this subject, believes this will soon be a thing of the past:
‘Energy storage costs – for lithium-ion batteries for example – continue to drop at about 16% a year, driving a replacement of power plants on the grid by energy storage and plunging prices for electric vehicles.’
This sounds like good news for drivers – and Seba thinks it will drive a fundamental shift in driving trends in the coming decade:
‘Within just 10 years conventional energy production and transport will have been rendered obsolete by the revolution taking place in batteries, solar power and electric cars.’
More reasons to make the electric switch
And, when dropping battery costs meet the increasing trend towards autonomous vehicles, Seba takes his prediction one step further. He believes that not only will all new cars shortly become electric only, but that people will stop wanting to own their own car, instead preferring to use autonomous vehicle-sharing schemes.
He points out that sheer economics will force the switch: EVs (Electric vehicles) need 100 times fewer moving parts than conventional vehicles, so maintenance costs could be lower.
Additionally, I’ve read that the best EVs can out-accelerate some petrol cars. And with the average car spending 96% of its time parked, a big disruption to the market seems more than likely.
This is a guest contribution by community member Ian. All views expressed here are Ian’s own and not necessarily also shared by Which?.
Will you be joining the electric revolution?
What do you think? Is it far-fetched to expect all drivers to be wooed over to electric in the next 10 years, or is this a future you’d like to be part of? Will the new charging network and lower costs encourage you to buy – or hire – an electric car?


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New Jersey's state attorney general on Thursday said she had subpoenaed records from Amgen Inc. after accusations by two former employees that the biotech giant engaged in possibly improper marketing practices to boost sales of a top-selling psoriasis drug, the Los Angeles Times rerpots.
Early this week, Amgen was ordered to deliver "a comprehensive array" of documents and information concerning the marketing of Enbrel by Feb. 4, Atty. Gen. Anne Milgram said.
Her office said it was investigating whether Amgen promoted the treatment for uses not approved by the Food and Drug Administration and whether it violated patient privacy laws.
The Times reported last week that two former Amgen employees are seeking damages in arbitration proceedings, contending they were penalized for failing to go along with possibly improper marketing practices to boost Enbrel sales beyond the drug's approved uses.
Amgen denies the allegations, saying they are without merit.
"Amgen will cooperate fully with the New Jersey attorney general in this investigation," Amgen spokeswoman Mary Klem said.
Read the full L.A. Times story . (registration required)
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Rocky road? AZ man loses lawsuit over ice cream adsPosted: Updated:
Gerald Morris says consumers aren't getting what they pay for when they buy ice cream from Kroger-owned grocery stores. (Source: CBS 5 News)
Morris says the Fry's newspaper ads mislead the consumer by listing the wrong weight of ice cream products.