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SECURITY AND STABILITY |
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Only a few years ago, security was not a primary consideration for a business location. But on 11 September 2001, CEOs realized that business continuity (let alone the physical well-being of their employees and families) would from now on be a major factor in choosing where to locate. Geneva, already known for its low crime rate and stable society, began to attract new attention. Reuter’s, for example, set up a back-up data facility in Geneva in case its primary one in London should come under attack. Overall security also involves stability, reliability and expertise – qualities for which Geneva has long had a reputation. Indeed a 2005 survey by Mercer Consulting ranks Geneva second in overall security only to Luxembourg!
Data security
In today’s business world, when intellectual property makes up a company’s primary asset, security in terms of information transactions must be a given. Geneva’s private banks were in the forefront of protecting data and a cluster of information security companies is growing here. The presence of the World Intellectual Property Organization (WIPO) and the International Telecommunications Union (ITU) contribute to this expertise. Over the past few years, the Lake Geneva Region has become a center of information security expertise. Perhaps it was the Geneva banks that first catalyzed the search for secure applications, a need quickly met by the EPFL and the University of Geneva, as well as by the many start-ups created by their graduates. Perhaps it was also the influence of the European Physics Lab (CERN) and its GRID project to link computers all over the world. Surely, having such companies as Hewlett-Packard, Oracle, Dupont, Caterpillar and Reuters in Geneva has stimulated development. Definitely, the presence of headquarters of such organizations as, the International Aviation Industry Association (IATA) and SITA here has also played a role.
Political security
Security in Geneva also extends to a sense of political security. Investors have no fear of making long-term decisions knowing that they can depend on solid regulations and social stability. The protection of competition and property are guaranteed.
Social stability
Finally, security is also about nurturing a society’s people. Geneva has first-class healthcare and education systems, both public and private, that contribute to social stability while excellent labor relations contribute to a productive, stable working environment.
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Quote from the IMD: “The world today is more volatile and security is an attractive concept for many companies, both in terms of intellectual property, goods, persons and a dependable legal system.” Stephane Garelli, Professor of international business policy
Quote from Pictet & Cie: “I receive alerts from the UK every week, for which we have to decide how we will react. We don’t have that problem here.” Jean-Pierre Therre, Director of Group Operations
To learn more about Geneva's ranking in terms of security and stability, please consult the appropriate section of " International comparisons", the yearly publication presenting independant comparative data on all major business locations.
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