The recent winter season was positive for Switzerland’s mountain resort lift operators. However, the picture was mixed with low altitude resorts missing out on much of the joy, reported Switzerland’s mountain lift association this week. By the end of April 2024, the number of first-time visitors to Swiss ski areas overall was up 3% compared […]
Inflation returns to Switzerland in April
Consumer prices in Switzerland increased by 0.316% in April 2024, rising 1.4% over the previous 12 months, reported Switzerland’s Federal Statistical Office (FSO) this week. However, annualised, the monthly rate comes to 3.79%, a rate well above the Swiss National Bank’s (SNB) preferred maximum of 2%. April’s 0.3% monthly price increase was driven by several […]
Swiss National Bank profits bounce back to record level
This week, the Swiss National Bank (SNB) announced a record quarterly profit for the first quarter of 2024. The result was largely predicted after the SNB made a surprise interest rate cut, which led to a weaker Swiss Franc. Switzerland’s central bank is unusual. It is privately owned (mainly by a German citizen) but distributes […]
Swiss National Bank surprises with interest rate cut
On 21 March 2024, the Swiss National Bank (SNB) lowered its key interest rate from 1.75% to 1.5%. The move makes the SNB the first significant central bank to lower rates as inflation slows. The cut surprised many analysts and economists. The consensus expectation was for no change in the rate. Many other central banks […]
10-step guide to hiring an employee in Switzerland
Brought to you by quitt.business. For startups and small companies, hiring and onboarding new employees can be a real hassle. In Switzerland especially, there is a significant amount of admin to deal with. The following is a guide to all the tasks involved in this process. A summarised list of the administrative tasks associated with […]
No rise in Switzerland’s rent rate this quarter
After two increases in a row the reference interest rate used for adjusting rents remains unchanged this quarter. After two rises from 1.25% to 1.75% last year, many tenants in Switzerland will be breathing a sigh of relief. Many economists forecast no increases in the rate this year. Every quarter the rate of interest used […]
Swiss supercomputer aims to make AI open to all
Much of the progress being made in AI is captured within private companies aiming to keep it to themselves in order to profit from it. Open AI, a project started as an open-source non-profit has morphed into a largely closed-source profit-maximising project increasingly integrated into the software company Microsoft. Many see open-source as critical to […]
Swiss unemployment rises more than expected
The number of people unemployed in Switzerland rose by more than most economists expected in January 2024. The rate at the end of January rose to 2.5%, up from 2.3% at the end of 2023, reported the State Secretariat for Economic Affairs (SECO). A group of economists predicted it would be between 2.2% to 2.5%, […]
Issues concerning the Swiss most in 2023
This week, a survey was published setting out issues of greatest concern to the Swiss public. The five biggest issues cited by the Swiss population are of a monetary nature. Economic concerns haverisen, leaving issues such as climate change in sixth place. The top concern is healthcare costs and health insurance premiums. 41.8% were worried […]
Rising prices – where Swiss are cutting back
Purchasing power has been hit much less in Switzerland than in other European nations. Between 2020 and 2023 food prices went up 6% in Switzerland. The same figure in Germany (+17%), UK (+40%) and Estonia (+43%) is much higher. At the same time, big ticket items like health insurance and rent have made a big […]
