A survey report published this week shows that the population of Switzerland increasingly sees immigration as a challenge and desires political action. Overall, while the economic and cultural effects of immigration are viewed positively, the strains on infrastructure, housing and the environment are viewed negatively. In addition, negativity towards immigration is showing among groups that […]
Swiss Rail financial results disappoint
This week, Swiss Rail published its half-year results. During the first six months of 2024, the company made a profit of CHF 50.8 million, a level far below what is required for it to operate comfortably and service its debt. As a rule of thumb, to remain in good financial shape the company needs to […]
Swiss economy grows more than expected in second quarter of 2024
Switzerland’s economy grew slightly more than expected in the second quarter of 2024, reported SRF. Between April and June 2024, Gross domestic product (GDP) rose by 0.5%. A survey of economists had expected growth for the quarter to be between 0.2% and 0.4%. The biggest driver of growth during the quarter came from industry, which […]
Swiss government plans to fund higher pensions with higher VAT
In March 2024, 58% of voters voted in favour of paying an additional 13th month of state pension. That triggered a fierce debate on how to fund it. This week, Switzerland’s Federal Council said it planned to fund the increase with higher VAT with no rise in salary taxes. The news was delivered by Elisabeth […]
European immigration into Switzerland rises by 29%
Data published by Switzerland’s State Secretariat for Economic Affairs (SECO) show a sharp rise in the number of people moving to Switzerland from EU/EFTA nations. In 2023, 68,000 people arrived in Switzerland from EU/EFTA countries to live, the highest number since 2008 when 72,100 arrived. The 2023 figure is 29% higher than the number of […]
Swiss housing crisis squeezing those on low incomes
Switzerland’s housing crisis is pushing low income earners into poverty, warned Caritas this week. According to the charity, high rents are pushing some low income earners into poverty. An acute shortage of housing is pushing rents beyond the level that some people can afford, forcing them to cut back on spending in other areas, said […]
Swiss inflation in May erodes case for further interest rate cut
In March 2024, as Switzerland’s month-on-month inflation rate went to zero and the annual inflation rate dipped to 1%, the Swiss National Bank (SNB) cut its key interest rate from 1.75% to 1.5%. Some expected the bank to keep cutting. However, in both April and May 2024, monthly inflation returned, making further imminent rate cuts […]
Swiss want to work less
More and more people in Switzerland want to work less, according to a study published by Swissstaffing, a placement agency umbrella organisation, reported SRF. A shortage of skilled workers is a perennial challenge in Switzerland. One potential solution is for part-time staff to work longer hours and extend retirement. However, reality is different. Swiss workers […]
Swiss unemployment falls in April
According to data from the State Secretariat for Economic Affairs (SECO), 106,957 people were registered as unemployed at the end of April 2024, 1,636 (-1.5%) fewer than the previous month, taking the rate from 2.4% to 2.3%. However, unemployment remained higher (+0.3 percentage points) than it was at the same time in 2023. At the […]
Bumper season for Swiss mountain lift companies
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 […]
