On New Year's Eve in Zurich, Switzerland the legendary New Year's Eve fireworks display enchants spectators in the Zürich lake basin. Each year, around 200, 000 party-goers from Switzerland and abroad visit the country’s biggest New Year’s Eve party to gaze up at the brightly lit night sky. The New Year’s Eve Magic fireworks spectacular is organised annually by Zürich’s hoteliers. The spectacular display will light up the sky above Lake Zurich and the city from 0.20 to 0.40. The fireworks will be set off from two specially anchored boats to enchant the crowds.
Zurich is a leading global city and among the world's largest financial centres. The city is home to a large number of financial institutions and banking giants. Also, most of the research and development centres are concentrated in Zurich and the low rate of tax attracts overseas companies to set up their headquarters there. According to several surveys from 2006 to 2008, Zurich was named the city with the best quality of life in the world as well as the wealthiest city in EuropeGeographically, Lake Zurich is located in the southwestern part of the canton of Zurich. To the east are – separated by Zürichberg-Adlisberg, Forch and Pfannenstiel – two minor lakes: Greifensee (Lake Greifen) and Pfäffikersee (Lake Pfäffikon). Zimmerberg and the Etzel regions lie to the west.
Compared to other cities, there are few tall buildings in Zurich. The municipal building regulations limit the construction of high-rise buildings to areas in the west and north of the city. In the industrial district, in Altstetten and Oerlikon, buildings up to 80 metres (260 ft) in height are allowed. In the adjacent high-rise areas II and III the height is limited to 40 metres (130 ft). Around the year 2000, regulations became more flexible and high-rise buildings were again planned and built. The people's initiative "40 meters is enough," which would have reduced both the maximum height and the high-rise buildings area, was clearly rejected on 29 November 2009. At this time in Zurich about a dozen high-rises buildings were under construction or in planning, including the Prime Tower as the tallest skyscraper in Switzerland.