I feel like I have to read this backwards to perhaps understand it. Is 2.9x the multiplier of Swiss GDP/capita vs the Western Europe average in 1940?

Well they were neutral, its just most folks, even otherwise smart ones, don't like true neutral behavior if it doesn't actually favor their side, hence such 'smart' snarky remarks I can see all the time, by people feeling they know history. Swiss accepted everybody, hundreds of thousands of refugees too, some parts even when it became obvious they will all face starvation since they were completely encircled by axis. Private banks accepted everybody's money, just like every global bank did before and after the war.

They secretly helped allies - check Campione d'Italia story for example. Thats very far from neutral behavior. And so on. But most people don't want to know facts, they want simple black & white stories.

It continues till today - they are officially neutral but look at their moves ie against russia during Ukraine war. Completely aligned with west (well apart from US which has top brass collaborating with their sworn mortal enemy). Look how their army looks like - 100% compatibility with NATO, 0% with russia or anybody else. They picked their side, they just don't boast around it, actions speak more than 1000 words.

> Much of the industrialisation and banking industry was driven by immigrants.

This. In particular the chemical/pharmaceutical industry (which is still a major Swiss industry today) got bootstrapped in great part by French and German chemists moving to Switzerland where they could make chemicals that was patented elsewhere but not in Switzerland due to looser industrial property laws at the time.

Historically, Switzerland has taken the same approach to immigration as the Gulf Arab states: immigration is strictly contingent on labor needs, and citizenship is almost completely out of reach.