In January 2015, when the Swiss National Bank stopped its attempt to keep the Swiss franc to Euro exchange rate at 1.20, the Swiss currency quickly rose beyond parity. To soften the economic shock, Switzerland’s government allowed working hours to be extended with no extra pay and working hours and pay to be cut. Employees […]
Pay in Zurich and Geneva highest in the world
A survey of the cost of living in 77 cities, by UBS, ranks Zurich (1st) and Geneva (2nd) as the most expensive. But while these cities are the most expensive, their workers are also the highest paid. In Zurich, less than five days pay affords an iPhone X. In Geneva, the same device requires less […]
Switzerland second hardest working nation in Europe
Recent statistics show that the average full-time employee in Switzerland worked 42.6 hours a week. This is slightly less than an average Icelander (42.9) – the longest working – but 13% longer than the average in leisurely France (37.4), the european nation putting in the fewest hours. Switzerland also came second on a broader measure: […]
Switzerland drops in economic competitiveness ranking
While Switzerland remains in the top five with the same other four countries in this year’s IMD World Competitiveness Ranking, it slipped from second to fifth place. The United States rose from fourth to first, second and third places went to Hong Kong and Singapore, and fourth place to the Netherlands. America’s comeback was due […]
High Swiss drug prices – campaign presents a solution to Swiss government
This week, the Swiss NGO Public Eye, launched a campaign for more affordable medicine in Switzerland under the slogan: protect patients, not patents. The NGO says high prices, of cancer drugs in particular, is not only an issue affecting developing nations but wealthy ones too. It says that cancer treatments in Switzerland often cost over […]
Switzerland’s vote to change its monetary system – sensible or silly?
Sometimes Swiss voters are presented with questions that only specialists are equipped to answer. The vote on 10 June 2018 to change their monetary system appears to be one of these. On the surface it appears simple. Upon closer inspection it contains much complexity and uncertainty, compounded by a widespread misunderstanding of how the financial […]
Median Swiss salary rises
Swiss salaries have risen according to a recently published report by Switzerland’s Federal Statistical Office. The median gross monthly salary was CHF 6,5021 in 2016, CHF 313 higher than in 2014. 50% of Swiss workers earned more than this and 50% earned less. CHF 6,502 a month is an annual salary of CHF 78,024 (US$ […]
Late trains – Switzerland’s delay hotspots
The cliché of Swiss trains always being on time is challenged by data published on the website opentransportdata.swiss. Analysis of this data by 20 Minuten, shows the most frequently delayed trains arrive from Italy. Mendrisio, near the Italian border in the canton of Ticino, was the worst performing station with 30% of trains delayed by […]
Is Swiss inflation back to stay?
Swiss inflation reappeared in February 2018 and has continued. According to the Federal Statistical Office, inflation was 0.2% in April. Since the beginning of 2018, prices have risen 0.9%. Jan-Egbert Sturm of the KOF Swiss Economic Institute says it shows the Swiss economy is doing well, and that inflation is close to what is “normal” […]
Basel airport – night time take-offs to be cut in half
For those who fly regularly, living close to an airport might be convenient, but it’s also noisy. To reduce noise, Basel-Mulhouse airport has decided to reduce the number of flights taking off between 11pm and midnight by half, according to a press release. Unlike Geneva airport, which is located entirely on Swiss soil but still […]
