Swiss Managers Survey 2026: Swiss Companies Adapt to a Geopolitically Fragmented World

Companies Remain Resilient

Despite an increasingly complex global environment, Swiss companies continue to demonstrate resilience. Around nine out of ten respondents rate their current business situation as at least satisfactory. At the same time, sentiment has improved slightly compared to the previous year: after reaching its low point in 2025, the SMS Business Climate Index rebounded to 62 points. Expectations for the coming months have become more positive, although overall optimism remains cautious.

Manufacturing companies, in particular, are more likely than service-sector firms to report very favourable business conditions. Overall, however, expectations are dominated by the prospect of stability.

Competitive Advantages Through Quality and Innovation

The survey confirms a well-established pattern in the Swiss economy: companies compete primarily through innovation, highly skilled employees, and product quality. Around 60 percent of executives believe their companies outperform foreign competitors in terms of innovation and talent. Nearly 80 percent consider the quality of their products to be superior.

At the same time, cost structures remain the greatest challenge. Three-quarters of respondents view their companies as being at a disadvantage in terms of costs compared to international competitors. Swiss businesses therefore continue to rely on a premium-value model rather than cost leadership.

Supply Chains at the Centre of Geopolitical Risks

Geopolitical developments are now having a direct impact on business operations. Only a small minority of companies report no exposure to geopolitical risks, with manufacturing firms being particularly affected.

Respondents identify disruptions to supply chains and logistics networks as the most significant threat. This is followed by exchange-rate and financial-market volatility, as well as cyber risks and dependencies on digital infrastructure. Trade barriers and tariffs are still regarded as relevant, but they are no longer the primary concern.

Most companies expect geopolitical risks to remain at current levels or increase further in the years ahead.

Resilience Before Expansion

Corporate responses reveal a clear priority: securing resilience rather than pursuing growth. Already, 38 percent of companies have diversified their supplier base, while a further 33 percent are considering doing so. Many firms are also reducing their dependence on individual markets or increasing inventory buffers.

The impact is becoming visible domestically as well. Twenty-eight percent of surveyed companies have implemented hiring freezes, while 22 percent have postponed investments. By contrast, only 15 percent have entered new export markets.

Strategic Priorities Are Shifting

Perceptions of key economic regions are also changing. Most notably, confidence in the United States has declined significantly: around two-thirds of executives now view the country less favourably than they did a few years ago.

While the European Union remains a stable economic anchor for many companies, India is gaining strategic importance. Among all regions covered by the survey, India now receives the most positive assessments.

Geopolitics Becomes a Core Management Issue

The findings of the Swiss Managers Survey 2026 demonstrate that geopolitical risks are no longer viewed as temporary disruptions. Instead, they are increasingly seen as a permanent feature of the business environment and a central consideration in strategic decision-making. For Swiss companies, the ability to strengthen resilience while maintaining their advantages in innovation and quality is becoming a critical factor for long-term competitiveness.