The Liechtenstein trust sector generated gross value added of just under 1 billion Swiss francs in 2018. Its direct share of gross value added of slightly over 11 percent was the third-highest by sector. This is a finding from a study published on behalf of the Liechtenstein Institute of Professional Trustees and Fiduciaries.
According to a recent study, the trust sector in Liechtenstein generated gross value added of 974.3 million Swiss francs in 2018. This corresponds to a share of 15.2 percent of Liechtenstein’s total gross value added, explains the Liechtenstein Institute of Professional Trustees and Fiduciaries in a press release. The organization commissioned Magnus Hoffman from the Institute for Business Ethics at the University of St.Gallen to carry out the study in cooperation with Polynomics AG. The study confirms “the outstanding economic importance of the trust sector in Liechtenstein”, the Liechtenstein Institute of Professional Trustees and Fiduciaries writes.
The direct share of gross value added generated by the trust sector in Liechtenstein amounted to 11.3 percent overall in the reporting year, the press release states further. As such, it occupies third place behind mechanical engineering and financial and insurance services. In terms of the direct share of total employment, the trust sector even ranks in second place at 8.4 percent, behind financial and insurance services.
“The results of the study are evidence of the outstanding work of the trust sector, underlining once again its importance for Liechtenstein as a whole”, explains Susan Schneider-Köder, Managing Director of the Liechtenstein Institute of Professional Trustees and Fiduciaries, in the press release. “The results are cause for optimism in the future, particularly against the backdrop of the major challenges that the fiduciary sector has been confronted with over several years, such as international cost competition, eroding margins and increasing international regulation”, she comments in the press release.