Geneva - Overview:
The Canton (state) of Geneva is located in the west of Switzerland and is home to a population of more than 400,000 people, over 37 per cent of whom are foreigners. The official language of the Canton is French, but English is also widely spoken. The city of Geneva itself is situated astride the river Rhône, on the southwest side of Lake Geneva/Léman, and is the third largest city in Switzerland with a population in the region of 180,000 people.

It is a truly cosmopolitan city that plays host to hundreds of international organisations including the European Office of the UN, the International Committee of the Red Cross, the International Labour Organisation and the World Health Organisation. There are more than 100 consulates, diplomatic missions and international chambers of commerce in the city together with numerous multinational companies such as AT&T, Compaq, Hewlett Packard, IBM, Levi Strauss, Motorola, Reuters and Shiseido. Geneva is also one of the world's top locations for annual congresses, meetings and trade fairs.

Economy:
According to a report published by the Department of the Economy, Labour and Foreign Affairs, the tertiary sector employs 84 per cent of Geneva's working population, while the primary and secondary sectors employ 1 per cent and 15 per cent respectively.

Within the tertiary sector, public administration, healthcare and business services are all important but the city is most noted for its banking and financial services. The concentration of banking and financial institutions in Geneva is much higher than the national average and, according to the Geneva Financial Centre, approximately 40 per cent of the total volume of assets under management in Switzerland and 14 per cent of worldwide cross-border assets under management are directly or indirectly controlled from the city.

Geneva's industrial sector is largely focused on value-added activities aimed at international markets and these make up the majority of the city's exports. Notable industries include chemicals and pharmaceuticals, clock and watch manufacturing and the production of fine jewellery.

Local Infrastructure:
Geneva's airport is located just 5 kilometres outside the city. It offers flights all over the world and most major cities within Europe, such as London, Munich, Paris, Rome and Vienna, can be reached in just over an hour. In 2002, the airport catered for over 7.6 million passengers, an increase of nearly 1 per cent on the previous year.

The city's free port has facilities at La Praille and Geneva International Airport, covering some 150,000 square metres in total. Both sites are easily accessed by road and rail and offer warehouse and office space for rent. The port also offers an extensive range of services such as packing, cleaning, sorting, maintaining and labeling goods; stock management and shipping and customs formalities.

Excellent road and rail networks connect Geneva with the rest of Switzerland and Europe. The city is at the centre of the major highway systems linking France, Italy, Germany and Spain and there are hundreds of trains a day between Geneva, Switzerland's principle towns and cities, and the major cities in France, Italy, Spain and Germany. These include the high-speed TGV to Paris, which takes just 3½ hours, and the Pendolino to Milan.

Local Workforce:
The city benefits from a well educated and multilingual workforce, although this comes at a price, with salaries in Geneva being relatively high. Returns on this investment however are good, as Geneva benefits from the high productivity and good industrial relations that are enjoyed throughout the country. The IMD World Competitiveness Yearbook 2002, shows overall productivity in Switzerland, in terms of GDP per person employed, to be above that of Belgium, France, Germany, Ireland, Italy, the Netherlands and the UK during 2001. While according to figures published by the UK Office for National Statistics, Switzerland lost just 1 day per 1000 employers as a result of industrial disputes during 2000, compared to an EU average of 60 days and an OECD average of 90 days.

The unemployment rate in Switzerland is one of the lowest in Europe, with figures published in the Economist in June 2002 showing it to be 2.5 per cent. This compares with figures of 2.2 per cent in the Netherlands, 4.2 per cent in Ireland, 5.1 per cent in the UK, 9 per cent in Italy, 9.1 per cent in France and 9.7 per cent in Germany.

Standard of Living:
Few cities offer such a high standard of living and quality of life as Geneva and this is reflected in the city's rank in the annual Quality of Living Report, published in March 2002 by W.M. Mercer. Geneva achieved joint fourth position with Sidney, based on 39 criteria covering political, social, economic and environmental factors.

The city is clean, benefiting from strict laws governing air pollution that have applied throughout Switzerland since 1986, and has an efficient public transport system, first class healthcare facilities and one of the best education systems in the world. There is a wealth of art galleries, museums, operas, and theatres and the cinemas screen the latest films at the same time as they are screened in New York. There are also numerous sporting facilities within the city and the Alps are less than one hour away.

On a slightly more negative note, in W.M. Mercer's Cost of Living Survey 2002, Geneva is ranked as the 28th most expensive city, below London but above Zurich, Copenhagen, Milan, Paris, Rome and Dusseldorf.

Business Costs:
The cost of business premises in Geneva are in the mid range of most major European cities. According to figures in the 2002 Regional Real Estate Survey, published by the Department of Economy, Labour and Foreign Affairs, downtown office rent in the business quarter of Geneva costs between $343 and $579 per metre squared per annum. In other areas, office rents range between $191 and $275 per metre squared per annum. Industrial premises cost between $123 and $184 per metre squared per annum, while retail premises cost between $302 and $1,089.

Switzerland benefits from a modern telecommunications infrastructure with competitive costs. Figures published in the IMD World Competitiveness Yearbook 2002, show that the cost of making a 3 minute international call from Switzerland is one of the lowest in Europe at just $0.196. In France the cost iss $0.238, in Germany it is $0.241, in Italy it is $0.713 and in th UK it is $0.862.