Switzerland made the the top 5, after dropping from 4th to 5th, in this year’s World Economic Forum (WEF) Global Competitiveness Index. Switzerland’s decline was largely due to a down weighting of a factor where it is strong, according to WEF’s Saadia Zahidi. The Global Competitive Index measures performance in 114 areas that influence a […]
New taxes on flights and fuel accepted by Swiss upper house
A majority of the Council of States, Switzerland’s upper house, recently agreed to raise the tax on fuel and introduce a tax on flights. The plan was accepted by 37 of the 41 members who voted, according to 20 Minutes. To honour its commitment to the Paris climate agreement, Switzerland needs to cut greenhouse gas […]
Updated Swiss-US tax treaty goes into force
After years of stalemate an updated double taxation agreement (DTA) between Switzerland and the United States has been ratified and is now in force. American and Swiss representatives signed the necessary documents last week. #AmbMcMullen and State Secretary Daniela Stoffel at the @efd_dff exchanged instruments of ratification of the Protocol of Amendment to the Double […]
Switzerland faces looming shortage of workers
As more baby-boomers – born from 1946 to 1964 – retire, Switzerland will faces a shortage of workers, according to Credit Suisse, a bank. Economists at the bank estimate that 1.1 million people in Switzerland will retire over the next 10 years, a figure which includes nearly 800,000 people currently working. By 2021, there will […]
Vevey’s Fête des vignerons set to make large loss
With the celebration over, attention has shifted to the cost of the Fête des vignerons, Vevey’s once-in-25-year winegrowers festival. As the bills come in it looks like the festival will make a loss of CHF 16 million, according to the François Margot, who was interviewed by the newspaper 24 heures. Fête des Vignerons: “Le manque […]
The remarkable rise of Switzerland’s GDP per capita
In 1998, GDP per person in Switzerland was CHF 59,693. Recently published statistics put the figure at CHF 80,986 in 2018, a rise of 36%. When Swiss GDP per capita is expressed in globally comparable US dollar terms its rise is even greater. In US dollar terms Swiss GDP per capita grew from US$ 41,497 […]
New 100 Swiss franc note coming soon
Recently, the Swiss National Bank (SNB) unveiled the new 100 franc banknote. The note’s design is inspired by Switzerland’s tradition of humanitarianism, represented on the note by water. The note remains blue but is much smaller than the existing one, making it easier to fit into wallets. The note is the last one in Switzerland’s ninth series […]
Swiss trade with much of South America should soon be tariff free
A deal agreed between EFTA and the South American Mercosur bloc, which includes Argentina, Brazil, Uruguay and Paraguay, with a combined population of 260 million, is close to signing. EFTA includes Iceland, Liechtenstein, Norway, and Switzerland. Under the deal, 95% of Switzerland’s CHF 3.6 million annual exports to the bloc would be tariff free. The […]
Most Swiss election candidates favour raising retirement age to 67
A majority of the candidates putting themselves forward for election as federal parliamentarians on 20 October 2019 favour raising Switzerland’s retirement age to 67, according to a survey done by Smartvote and reported in the newspaper NZZ am Sonntag. This could produce a parliamentary majority on the issue after the federal election. Switzerland’s official retirement […]
Swiss research leads to cancer break through
Researchers at the Paul Scherrer Institute recently deciphered the structure of the CC chemokine receptor 7 (CCR7), a signaling protein. Cancer cells use CCR7 to guide themselves into the lymphatic system, spreading cancer throughout the body. The resulting secondary tumors, called metastases, are responsible for most cancer deaths. This new understanding of CCR7 is a […]
