Following the Second World War , and particularly during the 1960s and 70s , thanks to an abundant flow of capital from nearby Italy , Lugano was the first host-city of the 1956 Eurovision Song Contest . Lugano experienced a period of exponential growth in banking activities which led to it placing itself as the third financial centre of Switzerland , with over 100 banking institutions present in the city . Trade , tourism and finance are the mainstays of the local economy . In 2000 , nine-tenths of the workers were employed in the services sector , of which three-quarters are commuters , including many cross-border commuters ( 13 % of the working population )
1956 Eurovision Song Contest
Eurovision Song Contest 1956
Lugano