Each quarter, Reto Savoia, CEO of Deloitte Switzerland, takes a look at current issues. He talks about the Swiss economy and explains what the next priority is within the company. Reto looks back on events that have impressed him, and we put him on the spot by asking him to choose between two things. Here’s what he had to say in this quarter.
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What current challenges in the Swiss economy will be felt most over the coming three months?
Two issues in particular are weighing on the economy at the moment.
The first is investment uncertainty: For some time now, this has been fuelled by various geopolitical conflicts, by persistently weak growth in Europe and by our country’s quest to adopt a new stance towards Europe and the wider world. This uncertainty has been significantly heightened by the recent announcement of impending US tariffs. We are feeling it in our discussions with clients, and it was already reflected in the latest figures published by the Swiss State Secretariat for Economic Affairs (SECO), which lowered its growth forecast to 1.4 per cent for this year and 1.6 per cent for 2026 even before America’s so-called ‘Liberation Day’.
The second issue is the impact on key regulatory initiatives of the radical shift in the political climate. For instance, the EU is intending to streamline sustainability regulation significantly with its ‘Omnibus’ package, something that will also have ramifications for the next round of upcoming planned legislation and the debate over ongoing popular initiatives in Switzerland. The Swiss Federal Council has also taken its foot off the accelerator in terms of how the government needs to tackle artificial intelligence. It has understood that, instead of going overboard on regulation here, we should definitely seize the opportunities for innovation that present themselves.
What is the main priority for Deloitte Switzerland in the coming months?
Because of the investment uncertainty that’s affecting large parts of the economy, we’ve been focusing our auditing and consulting services squarely on offering our clients as much guidance as we can in a difficult environment. This includes how to deal with sustainability regulation, the OECD’s tax reform, tricky M&A deals, prioritising complex digitalisation projects and fine-tuning operations in all areas of the company. Despite all the volatility, we can also see a lot of opportunities opening up to our clients and are working on the future together with them. And this goes for us as well: We too are continuing to develop and improve. For instance, we were recently singled out as an example of sustainable corporate governance.
Which recent development have you been most impressed or preoccupied with?
The earthquakes in Myanmar and Thailand. They remind us once again of how fragile life is at any given moment but also of how tragedies have the power to bring out the best in people.
A ride on your e-bike or a spring walk in the countryside?
Walking – it’s an opportunity to enjoy nature and relax, far away from the technology that is ever-present in our lives.