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Switzerland is resistant and innovative during times of crisis

Switzerland is exceptionally well prepared to deal with external shocks, ranking third in an international comparison for this. In addition, the coronavirus innovation map shows just how innovative Switzerland is during the crisis.

Resilience and innovation help Switzerland in the Corona crisis. Image credit: Christina and Hagen Graf via Flickr
Resilience and innovation help Switzerland in the Corona crisis. Image credit: Christina and Hagen Graf via Flickr

According to the German rating agency Scope, in 2020 Switzerland ranks among the three most robust countries in the world, known as the “sturdy-3”. This is the result of the updated external vulnerability and resilience ranking, in which a total of 63 national economies are compared and contrasted against each other. The countries least susceptible to external shocks are accordingly Taiwan in first place, followed by China and Switzerland. In the accompanying press release, the analysts identify a challenging economic landscape overall: the coronavirus crisis has merely served to reinforce the volatile market conditions, also collapsing oil prices have laid bare the susceptibility on the part of several countries towards a balance of payments crisis.

Access to liquidity is advantageous

According to Scope, the economic resistance of Switzerland against international shock events is supported by the monetary reserve of the Swiss franc and highly liquid capital markets. At times of international financial market volatility, this offers unfettered access to liquidity. Scope assesses economies by their vulnerability towards a balance of payments crisis and their level of resilience in the event of such a crisis

Swiss innovations in the fight against coronavirus

The international comparison also reflects the particular innovative spirit of Switzerland during the coronavirus crisis. The country’s innovation ecosystem is ranked in fifth place internationally in terms of innovations aimed at combatting the virus, as shown by the coronavirus innovation map. This overview of innovations relevant to the coronavirus was compiled by StartupBlink a start-up network, in conjunction with other partners.

Zurich ranked in the top ten

The USA and Canada are leading the way in terms of the global effort to fight the coronavirus. The top five is otherwise rounded off by relatively small countries in the form of Estonia, Switzerland and Israel. A city-based comparison was also conducted alongside the country rankings, with Zurich being ranked in eighth place. In terms of European cities, only London (sixth) and Milan (fifth) are ahead of Zurich. The Zurich ecosystem was highlighted particularly for its innovations in the area of deep-tech and the proactive role it has assumed in global initiatives against the coronavirus pandemic.

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