The Swiss Watch Industry History

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Invest > Investors Guide > Economic structure > Key industry clusters > Watch industry Watch industry The Swiss watch industry is primarily located in the Jura region stretching from Geneva to Schaffhausen (called the “watchmaker belt”), with individual sites in Mittelland, Ticino and Valais. The Swiss watch industry makes products whose high degree of technization makes possible a strongly demarcated division of labour. As a result, the sector generally comprises small and medium-sized businesses, averaging 60 employees per company. Around 630 companies employ nearly 49,000 people (as of 2007). 94% of all employees and businesses are located in the seven cantons of the Jura region, resulting in a watch industry cluster. By focusing on the luxury segment, Swiss watchmakers have been able to expand their outstanding global market position by over 50% in recent years. The geographical concentration of the watch industry has given rise to a “precision cluster”, which extends along the Jura from the Basel area to northern Vaud and down to Geneva, while the cities of Geneva, Biel and La Chaux-de-Fonds themselves are three watchmaking centres. Companies such as the Swatch Group, Rolex SA, Richemont SA and the LVMH Group are headquartered here. The availability of highly qualified staff with professional know-how has resulted in the relocation to this area of more and more companies outside the watchmaking industry which require similar technologies for their products, in particular the medical technology industry. In recent years, its presence in this region has been expanding sharply. A cluster that is strongly geared to micro-mechanics and optics has also been formed in eastern Switzerland and the Berne area. Today, the Swiss electrical engineering, precision mechanics and watch industry provides employment for almost 140,000 staff at 5,000 workshops,

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