A recent study by Interpharma and Santésuisse shows how rapidly drug prices have risen in Switzerland over the 10 years to 2020. Between 2010 and 2020, medicine prices have risen by nearly 37% in Switzerland. In addition, the cost of basic health insurance has risen at 3 times the rate of GDP over the same […]
Switzerland: great quality of life at considerable cost
A recent survey of expats presents Switzerland as a double edged sword. The survey, which covers 59 nations, ranks Switzerland near the top on quality of life but near the bottom on cost. In the ranking by InterNations, Switzerland is listed 30 out of 59 countries overall for its attractiveness to expats. However, its score […]
Swiss consumer sentiment nearly back to pre-crisis level
Consumer sentiment among Swiss households is improving, according to Switzerland’s economic affairs office (SECO). In April 2021, the consumer sentiment index climbed back to -7 points after reaching a low of -40 in early 2020. The level of -7 is close to the pre-crisis level of early 2020 and close to its long term average […]
Short expiry notice for Swiss banknotes sparks criticism
Last Wednesday, the Swiss National Bank (SNB) announced that old Swiss banknotes would no longer be legal tender from Friday, 30 April 2021. The short notice period has generated complaints and confusion. The eighth series of Swiss banknotes did not lose their value, however, they are no longer an accepted means of exchange. The only […]
Real Swiss salaries up most in 5 years
On 30 April 2021, Switzerland’s Federal Statistical Office released salary data for 2020 which showed a 1.5% rise in real salaries compared to 2019. In 2020, a 0.8% rise in nominal salaries was boosted by inflation of -0.7% bringing the total increase in the real average Swiss salary to 1.5%. The last time salaries rose […]
Old Swiss money no longer valid from Friday
From Friday 30 April 2021, old Swiss bank notes will no longer be legal tender. This means they can no longer be used as a valid means of payment. The notes affected are old 10, 20, 50, 100, 200 and 1,000 Swiss franc notes from the eight series pictured above. From 30 April 2021, the […]
Only 36% of Swiss own their homes
Recently published statistics show that 36% of homes are owned by those who live in them, a rate that falls to 12% in municipalities with more than 100,000 residents. Swiss municipalities with the highest rates of home ownership (37%) have between 10,000 and 15,000 residents, a rate exceeding the smallest municipalities of less than 10,000 […]
Health insurers encouraged to use reserves to cut or repay premiums
In 2020, total reserves held by Swiss health insurance companies reached CHF 11.3 billion, a level equivalent to 203% of the minimum required, according to RTS. Excess reserves jumped recently after the government cut the minimum reserve level by one third, part of a move designed to encourage health insurers to align premiums more closely […]
Switzerland books a federal deficit of 14 billion francs in 2020
On 14 April 2021, Switzerland’s federal government announced it had spent CHF 14.2 billion more that it had collected in revenue in 2020. The loss represents the federal government’s consolidated excess expenditure for the year and is linked to the consequences of the Covid-19 pandemic, according to the statement. An additional CHF 16.8 billion was […]
Minimum wage hurting young people in Swiss canton
Around three years ago, the Swiss canton of Jura introduced a minimum wage of CHF 20 an hour (US$ 21.65). Now there is political pressure relook at the move, according to RTS. A group of cantonal parliamentarians from the PDC (CVP) is pushing for a review of the situation in response to pressure from some […]
