Industrialisation and Economic Growth
The 1847 to 1914 period saw the development of the Swiss railway network. The Schweizerische Nordbahn (SNB) society opened the first railway line on Swiss soil in 1847, connecting Zürich and Baden. The Gotthard Rail Tunnel was completed in 1881.
The Swiss watchmaking industry has its origins in the 18th century, but boomed during the 19th century, turning the village of La Chaux-de-Fonds into an industrial center. Rapid urban growth also enlarged Zürich, which incorporated its industrial suburb Aussersihl into the municipality in 1891.
Banking emerged as a significant factor in Swiss economy with the foundation of the Union Bank of Switzerland in 1862, the Swiss Bank Corporation in 1872.
The Golden age of alpinism in the 1850s to 1860s lay the foundation to the tourism industry.
Read more about this topic: Switzerland As A Federal State
Famous quotes containing the words economic growth, economic and/or growth:
“Economic growth may one day turn out to be a curse rather than a good, and under no conditions can it either lead into freedom or constitute a proof for its existence.”
—Hannah Arendt (1906–1975)
“We have heard all of our lives how, after the Civil War was over, the South went back to straighten itself out and make a living again. It was for many years a voiceless part of the government. The balance of power moved away from it—to the north and the east. The problems of the north and the east became the big problem of the country and nobody paid much attention to the economic unbalance the South had left as its only choice.”
—Lyndon Baines Johnson (1908–1973)
“A revolution is not the overturning of a cart, a reshuffling in the cards of state. It is a process, a swelling, a new growth in the race. If it is real, not simply a trauma, it is another ring in the tree of history, layer upon layer of invisible tissue composing the evidence of a circle.”
—Kate Millett (b. 1934)