Lugano is Switzerland's third largest financial centre after Zurich and Geneva. The banking industry alone has 8,400 employees and generates 17% of the gross cantonal product. Because of Ticino's shared language and culture, its financial industry has very close ties to Italy. In 2017, Ticino had an unemployment rate of 4%, higher than the Switzerland average which was estimated at 3.7%.
Lugano is Switzerland's third largest financial centre after Zurich and Geneva The banking industry alone has 8400 employees and generates 17% of the gross cantonal product Because of Ticino's shared language and culture its financial industry has very close ties to Italy In 2017 Ticino had an unemployment rate of 4% higher than the Switzerland average which was estimated at 37%