As inflation rises around the world, Switzerland feels the heat too. This week the Federal Statistical Office (FSO) published data on construction, which show an unusually large jump in costs. The costs of construction leapt 2.7% between April and October 2021, according to the data, leaving prices 4.1% higher than a year earlier. The construction […]
Swiss government defends plan to remove stamp duty ahead of vote
The Federal Council has decided to remove the 1% investment stamp duty charged on capital invested in Swiss companies. A majority of parliament are also in favour of the decision. However, some politicians are against the change and have launched a referendum against it. This week the government defended its plan. Switzerland’s relatively low corporate […]
Switzerland most expensive in EU comparison but third on average income (GDP)
Switzerland might not lead Europe on average income (GDP), but it wins on cost, according to recent Eurostat data. The nations leading on per capita GDP in 2020 were Luxembourg and Ireland. Average GDP per resident was 2.63 times the EU average in Luxembourg and 2.09 times in Ireland. Switzerland, came in third with GDP […]
Switzerland no longer classified as a currency manipulator
According to the latest report by the U.S. Department of the Treasury released this week, Switzerland is no longer defined as a currency manipulator, a status it has held for some time. To be classified as a currency manipulator by the U.S. Treasury a nation has to fulfil three criteria. It has to have a […]
Average Swiss household income reaches nearly 115,000 francs
The gross mean household income in Switzerland was CHF 114,984 (US$ 125,000) in 2019, according to the Federal Statistical Office (FSO). Overall, 40% of households in Switzerland had income over this mean while 60% brought in less. 73% of this income came from working, 23% came from pensions, welfare and household transfers such as alimony, […]
Swiss Federal Council rejects two votes on pension reform
This week, the Federal Council rejected two very different initiatives aimed at changing the state pension system. In common with much of the developed world, Switzerland is facing a large gap between the money required to fund state pensions and the money flowing in to pay for them, a challenge driven by increasing life expectancy, […]
Swiss franc highest against Euro since July 2015
On 19 November 2021, the Euro went below 1.05 Swiss francs, the lowest it has been since July 2015. The Swiss franc is viewed as a safe haven currency and tends to rise when markets are bearish. However, this week the shift in exchange rate may have had more to do with the situation in […]
Cyber-bullying and stalking on the rise in Switzerland
Online harassment and cyberstalking are increasingly widespread in Switzerland, according to a recent survey. And the problem is no longer confined young people, reported RTS. The survey, which questioned 4,000 18-65 year olds in Germany, Austria and German-speaking Switzerland between 2 and 11 August 2021, found that the number of cases of harassment had increased […]
After 95 years, Migros set to sell alcohol
Last weekend the management of one of Switzerland’s two largest supermarkets voted in favour of selling alcohol in its stores, reported the company. Company founder Gottlieb Duttweiler, who passed away in 1962, did not want the business to sell alcohol, something that was prevented by the cooperative’s constitution. Duttweiler did not want to fuel alcohol […]
Switzerland’s fastest and slowest growth cantons
This week, Switzerland’s Federal Statistical Office published the latest cantonal GDP figures. Switzerland’s overall GDP growth in 2019 was 1.2%. However there were wide cantonal differences. The six fastest growing cantons in 2019 were Obwalden (+3.5%), Glarus (+3.2%), Zug (+2.7%), Basel-City (+2.6%), Luzern (+2.6%) and Valais (+2.5%). At the other end of the spectrum were […]
