Business did well in Geneva in 2023. According to the Economic Survey of the Geneva Chamber of Commerce, Industry and Services (CCIG) published Monday, the level of general satisfaction is increasing slightly, exceeding the excellent levels of 2019 and 2022.
“2023 was good to very good for 47% of respondents (+7 points compared to 2022), particularly in companies with more than 100 employees and in the tourism, industry, energy, finance and watchmaking-jewellery, notes the CCIG in a press release. Overall business satisfaction stands at 3.3 out of 5 (+0.1 compared to 2022).
The evolution of business volume is good, with 55% of respondents announcing an increase, while 24% of them recorded a decrease. The same goes for profitability. The survey was conducted between February and March 2024 among 2,167 companies with a response rate of 24%.
On the employment front, the proportion of companies having hired in 2023 is excellent at 34% (+4 points) while 12% (+3 points) indicated a decrease, according to the CCIG. Hiring was strong for all companies with more than ten employees. Very large companies with more than 500 employees were the most likely to recruit (57%).
“When it comes time to take stock, the Geneva economy can look forward to a solid year in 2023. However, the excellent results of several sectors sometimes mask significant difficulties,” explains Vincent Subilia, general director of the CCIG, quoted in the communicated.
For 2024, the forecasts are rather optimistic although slightly down compared to the estimates made for 2023. More than half of the companies surveyed (54%) project an increase in business volume and 14% a decrease. Profitability prospects are also down slightly while remaining at a good level.
This article was automatically published. Source: ats
