The local economy is well balanced among different segments, namely the service sector, which is the driving force with Lugano being Switzerland’s third largest financial centre, and a highly competitive industrial sector, especially in the electromechanical and the pharmaceutical chemicals industries.
Tourism, for its part, is an important sector of the Canton’s economy with over 2.2 million overnight stays each year.
Ticino’s financial market, born in 1833, has behind it a solid, long-standing financial tradition and an extensive network of insurance companies and consultancy firms, which make Lugano Switzerland’s third largest financial centre.
The 240 companies that make up Ticino’s chemical and pharmaceutical sector carry out a broad range of different activities covering the entire production process of a pharmaceutical product.
MECHANICS AND ELECTRONICS
230 companies are active in this area, which is the Canton’s largest industrial sector. Production is very diverse and includes different manufacturing sectors, namely components, electrical and mechanical equipment and devices, precision mechanics as well as measuring instruments and, not least, watchmaking.
The information and communication technologies sector (ICT) is one of the most dynamic sectors and one with highest growth potential.
What was to become the Swiss Fashion Valley first took shape in the nineteen-eighties and currently boasts important international fashion brands which have in Ticino their R & D, production, business, logistics centres and headquarters.
Key Players: Ermenegildo Zegna, Hugo Boss, Gucci, Guess, The North Face, Abercrombie & Fitch, Michael Kors, Philipp Plein.
As well as the strength of its different leading sectors, Ticino offers favourable conditions for the organisations of MICE events (i.e. Meetings, Incentives, Conventions and Exhibitions). If you are still not convinced, find out why Ticino is the right choice for you.