OECD Economic Survey of Switzerland 2022

Switzerland has proven very resilient to the COVID-19 crisis thanks to a diversified economy with relatively low reliance on hospitality and entertainment and with significant fiscal space to support households and firms. Reviving productivity growth and reinvigorating the labour market will be key to support the recovery and maintain high living standards, according to the latest OECD Economic Survey of Switzerland.

On 19 January OECD Secretary-General Mathias Cormann presented the survey’s key messages and took questions at a press conference with Federal Councillor Guy Parmelin and State Secretary Marie-Gabrielle Ineichen-Fleisch. The event was moderated by Nicola Brandt, Head of the OECD Berlin Centre.

Swiss GDP shrank by just 2.5% in 2020 – a smaller contraction than in most other economies – and it recovered to pre-crisis levels by mid-2021. The Survey projects growth of 3.0% in 2022.

The new report says the crisis has heightened the need to lower barriers to competition and trade, develop skills in the workforce, strengthen the pension system and improve labour market participation by helping more older, low-skilled and female workers into jobs and reducing gender gaps in working hours.

Press conference:


Further Readings:

OECD Switzerland Economic Snapshot. Survey overview with key findings and charts (January 2022)

OECD Economic Survey of Switzerland 2022. Full report (20 January 2022)

Switzerland: reviving productivity growth and improving labour market participation key for sustained recovery from COVID-19, says OECD. OECD press release (20 January 2022)

Video: OECD Economic Survey of Switzerland 2022. Video summarizing key recommendations of the survey (January 2022)

Economic Policy Reforms – Going for Growth: Shaping a Vibrant Recovery. Country note for Switzerland (14 April 2021)