Has Dubai overtaken Switzerland’s financial position?

15.12.2015

The easy access to the market in Dubai increase the attractiveness of the local financial sector, says the IT expert Jean-Luc Freymond. This should lead to shifting of means.

"The current offers from Swiss banks are not what people are looking for," says the IT expert Jean-Luc Freymond.

On one hand, the new regulatory requirements and the trend to declared funds would weaken the attractiveness of the financial centre Switzerland, on the other hand, the Dubai International Finance Centre is all the more interesting due to the easy access to the market.

"One of the most interesting developments is that the money now shifts from traditional locations such as Switzerland to the Middle East - and especially to Dubai," Freymond adds.

Dubai is not only running behind Switzerland, but can assert itself well against other financial hubs such as Singapore. People fear that Singapore is the next country on the "only declared money list", says Freymond. This is another reason in favour of the financial centre Dubai.