Banking, Bling & Bahnhofstrasse: Where All the Swiss Clichés Come Together

Welcome to Day 2, where we find out whether Zurich lives up to the clichés on this map:

While Switzerland, as a neutral country, doesn’t have a "WWII Memorial Avenue," Zurich certainly has its own iconic boulevard lined with high-end shops and upscale dining. Enter Bahnhofstrasse - the city’s premier shopping street, stretching from Zurich’s main train station to Bürkliplatz on the shores of Lake Zurich.

How does it differ from "every European city"? 

For one, Bahnhofstrasse is car-free! To truly enjoy its relaxed atmosphere, arrive by public transportation or, if you must drive, park at one of the nearby (and pricey) garages.

Lined with trees and even featuring a small green space where people gather for lunch in the summer, it offers more than just shopping.

Interestingly, the world's most famous shopping streets—whether in Europe or the U.S.—tend to be around 1.5 km (almost a mile) long. Long enough for variety, yet short enough to remain walkable. Bahnhofstrasse fits right in.

🧸🍬💇🏼‍♂️ A One-Stop Wonderland for Kids on Bahnhofstrasse" 🎠📚🍕

For kids growing up in Switzerland, a visit to Bahnhofstrasse - especially to the legendary toy stores - was a highlight. Franz Carl Weber, once connected to FAO Schwarz of Fifth Avenue fame, had a massive flagship store here. Even Colin got to experience its magic when he was little.

At the time, part of the store was rented out to a pizza restaurant, a sweet shop, a children’s bookstore, and even a kids’ hair salon. Can you imagine what a paradise that was?

Pick a movie, hop onto one of the Bobby Cars, munch on some popcorn, and before you know it, the haircut is done!

Afterward, spend an hour exploring the toy store, crafting your Christmas or birthday wishlist, then take the slide down to the lower level to browse books. And if Colin is flipping through a book, you know he’s reading it cover to cover! Of course, all this excitement works up an appetite. And the smell of pizza? Absolutely irresistible. Mommy? Can we pleeease get some pizza?

⌚ The Watches That Keep Zurich on Time ⏱️

If you’re arranging to meet someone in Zurich, you’ll likely agree on one of two classic locations: Under the big clock at Hauptbahnhof or beneath the elegant timepiece at Bijouterie Kurz on Bahnhofstrasse.

The gigantic station clock at Zurich Hauptbahnhof is the city’s ultimate meeting point—unmissable, ever-reliable, and a silent witness to thousands of daily reunions, hurried commuters, and travelers setting off on new adventures. 

Further down Bahnhofstrasse, the clock at Bijouterie Kurz offers a more refined alternative. Mounted above the jeweler’s store, it has served as a traditional rendezvous spot for generations of shoppers, businesspeople, and tourists. But unlike its stoic counterpart at the train station, the Kurz clock puts on a daily show.

At 11 a.m. and 4 p.m., visitors gather in anticipation as the façade of Bijouterie Kurz comes to life. A charming mechanical procession of figurines emerges beneath the clock, a delightful display of Swiss craftsmanship and precision. Though subtle compared to grand astronomical clocks elsewhere in Europe, this little spectacle is a beloved tradition, adding a touch of whimsy to Bahnhofstrasse’s polished elegance.

🍮 A Sweet Bahnhofstrasse Tradition 🧁

No visit to Bahnhofstrasse is complete without stopping at Confiserie Sprüngli, Zurich’s iconic chocolatier. Their Truffes du Jour, handmade fresh daily, are pure indulgence—rich, velvety, and melt-in-your-mouth smooth. Then there are Luxemburgerli, the delicate mini-macaron-like treats that are somehow even lighter and airier than their French cousins. Whether you pick up a box as a gift (or, let’s be honest, for yourself), these little bites of perfection are a Bahnhofstrasse institution. Just be warned: they disappear alarmingly fast.

Ten years ago Colin and I tried our hand at baking our own macarons. It was an elaborate, tricky project, with the verdict that we'd rather travel to Zurich and spend a lot of money on the real thing.

🎄 Bahnhofstrasse at Christmas: Twinkling Lights, Sweet Delights, and Holiday Magic ✨

During the holiday season, Bahnhofstrasse transforms into a winter wonderland. The highlight is Lucy, the dazzling Christmas light display named after The Beatles’ Lucy in the Sky with Diamonds. Thousands of sparkling LEDs illuminate the street, creating a magical atmosphere. Festive window displays, particularly at Globus and Jelmoli (back when they were still around), used to draw crowds, while pop-up Christmas markets and street musicians add to the charm. Strolling down Bahnhofstrasse on a crisp December evening, sipping mulled wine (Glühwein) and admiring the lights, is a true Zurich holiday tradition.

🛍️ The Changing Face of Bahnhofstrasse 👜

Once a retail hotspot, Bahnhofstrasse is now grappling with showrooming - where customers browse in-store but ultimately buy online - leading to declining brick-and-mortar sales. This, combined with the broader retail downturn, has forced iconic stores like Franz Carl Weber, Manor, and Jelmoli (department stores that felt like they’d been around forever) to either relocate or shut down as soaring rents became unsustainable.

The landlords? Often life insurance companies and pension funds, which argue that regulatory constraints have pushed them toward high-rent commercial properties rather than lower-risk, traditional investments.

💰 Banking on Bahnhofstrasse - Then and Now 💹

Once the heart of Swiss banking, Bahnhofstrasse was home to major institutions like Schweizerische Bankgesellschaft, Kreditanstalt, Bankverein, Volksbank and Bank Leu. However, as the financial industry evolved, many banks moved back-office operations to more cost-effective locations, while flagship branches downsized or disappeared altogether. Rising rents, digital banking, and changing customer habits have made expansive retail banking spaces unnecessary. Today, while some financial institutions maintain a symbolic presence, Bahnhofstrasse is no longer the banking powerhouse it once was—luxury retail and real estate now dominate the prime addresses.

Credit Suisse (originally "Kreditanstalt"), once a pillar of Swiss banking, collapsed in 2023 after years of scandals and financial instability, leading to an emergency takeover by UBS. The merger resulted in massive job cuts, particularly in Switzerland, as overlapping roles were eliminated. Looking ahead, automation and digitization will continue to reshape the industry, making traditional banking careers increasingly rare while shifting the focus to specialized financial services and tech-driven roles.

UBS has grown into a financial giant, managing assets that roughly exceeds Switzerland’s GDP by 6.5 times, yet it resists increasing its equity capital to shoulder its own risks. In 2008, it had to be bailed out by taxpayers, raising the question of whether history could repeat itself.

The decline of Swiss bank secrecy has also played a role in reshaping Bahnhofstrasse’s banking landscape. For decades, strict confidentiality laws attracted wealthy international clients, making large, prestigious branches essential for high-net-worth services. However, global pressure - particularly from the EU and the U.S. - led to significant legal changes, reducing the need for discreet, in-person banking. Banks have since pivoted toward digital platforms and international wealth management centers, further diminishing the necessity of prime real estate along Bahnhofstrasse.

So, if you had the choice: Would you prefer a history-laden WWII memorial avenue or the charming, overpriced, and ethically debatable Bahnhofstrasse? Which one would you stroll down?