Companies domiciled in Switzerland and Liechtenstein continued to repatriate billions from their subsidiaries abroad in 2022.
This total sum funnelled back home amounted to CHF71 billion (almost $90 billion), compared with almost CHF116 billion in 2021, CHF34 billion in 2020 and CHF54 billion in 2019.
The phenomenon was once again concentrated in the services sector, where divestments amounted to CHF68 billion, according to the Swiss National Bank (SNB) on Friday in its regular statement. Once the exclusive preserve of financial and holding companies (CHF26 billion by 2022), divestments have now spread to the transport and communications sectors (CHF29 billion) and banks (CHF19 billion). ...