Tag Archive: Editor’s Choice

Ticket cheats in Switzerland soon to be listed in a national register

2018-02-18

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2018-02-18

Train
Tickets cannot be bought on public transport in Switzerland. Passengers are required to have a ticket before boarding. Those caught on public transport without one will soon have their names put into a national register. This will ensure progressively higher fines are issued to repeat offenders.

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Swiss real estate risk falls two quarters in a row, says UBS

2018-02-09

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2018-02-09

Regions with Price Correction and Exposed Regions
The UBS Swiss Real Estate Bubble Index declined in the last quarter of 2017, the second quarterly decline in a row. Prices are considered balanced when the index reaches zero. Between zero and 1 is considered a price boom, between 1 and 2 is considered at risk and above 2 a bubble. At the end of 2017 the index sat at 1.32, still in the zone where there is a risk of a price correction.

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Swiss cross-border shopping not always worth it, says study

2018-02-03

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2018-02-03

Carrefour
In 2015, Swiss residents made 24 million shopping trips abroad. The average Swiss-based cross-border shopper travelled 69 kilometres to shop in a neighbouring country, 55 kilometres further than they did when shopping in Switzerland, according to a study published by Credit Suisse.

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Push to extend shop opening hours to 8pm in Geneva

2018-02-01

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2018-02-01

Migros
The Swiss People’s Party (UDC/SVP) in Geneva wants shopping hours in Geneva to be standardized and extended. In general, French-speaking Switzerland has stricter laws on opening hours that the rest of Switzerland. For example a Migros store in Zurich is open until 9pm every night except Sunday. A similar store in Geneva is only open until 9pm one day a week. The rest of the week it shuts between 6pm and 7:30pm.

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Swiss fact: nearly half of Swiss rental properties owned by individuals

2018-01-29

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2018-01-29

If you rent a home in Switzerland it is more likely to belong to an individual than a big real estate company or pension fund. In 2017, 49% of residential rental properties in Switzerland were owned by individuals, according to Statistics published by the Swiss Federal Statistical Office. The highest rate of rental home ownership by individuals was in the Italian-speaking canton of Ticino (71%). The lowest rate was in the Lake Geneva region (41%).

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Income inequality in Switzerland remains stable after redistribution

2018-01-26

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2018-01-26

Inequality
Income inequality in Switzerland has remained stable according to a report published by Switzerland’s Federal Statistical Office. A key measure of inequality involves dividing the income share of the top 20% by that of the bottom 20%, a measure known as S80/S20. 1 is complete equality.

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New poll on vote to axe Swiss broadcast fee suggests rejection

2018-01-25

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2018-01-25

TVs
A poll run by the media group Tamedia shows a clear majority in favour of rejecting the initiative, dubbed “No Billag”, which aims to end Switzerland’s broadcasting fee. This poll follows one done in December 2017, which showed a majority in favour of the initiative.

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Budget busting burgers – Swiss franc still the most overvalued

2018-01-23

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2018-01-23

McDonalds
The Economist has just published its January 2018 Big Mac index, a light-hearted measure of whether currencies are under or overvalued. The underlying assumption is that a Big Mac is the same whether bought in Kiev or Chur, so any price difference must be due to the exchange rate.

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Swiss fact: health insurance premiums cover only 37percent of Swiss healthcare costs

2018-01-23

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2018-01-23

Switzerland
Figures published in 2017 show that only 37% of Swiss healthcare costs were covered by basic compulsory health insurance premiums. The remaining cost was covered by the government (20%), accident and social insurance (10%), private complementary health insurance (7%), charity (1%) and out-of-pocket spending by individuals (26%).

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Swiss rents could fall 10%, says UBS

2018-01-19

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2018-01-19

Building
In a report published today entitled: rents losing altitude, UBS says asking rents for apartments will probably drop by up to 10% over the next three years. Competition in the rental market is getting even fiercer. By mid-2017, 2.4% of all rental apartments were vacant. This level was last exceeded in 1998, when 2.8% of rental apartments stood empty, says the bank.

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Swiss VAT rate to fall in 2018

2018-01-02

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2018-01-02

Toscawhi Dreamstime
The current rate of 8% is set to drop on 1 January 2018. Temporarily increased by 0.4% in 2011 to shore up funding for disability welfare, the rate will revert to 7.7%. The 0.1% difference between the new rate and pre 2011 rate of 7.6% is a new increase that will be used to help finance rail infrastructure.

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How much more you need to earn in Switzerland to breakeven

2017-12-24

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2017-12-24

Recently published international price comparison numbers show just how expensive life is in Switzerland. The price of a standard basket of items, including food, clothing, accommodation, healthcare, transport, education and other regular expenses, was far higher in Switzerland than in the rest of Europe.

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Poverty risk high for Swiss pensioners despite high spending

2017-12-17

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2017-12-17

Wallet
A recent OECD study, which looks at retirement, shows the relatively large amount spent on pensioners in Switzerland. Switzerland consumes 11% of its GDP on retirees, compared to 9% across OECD nations. Despite this high spending, the risk of poverty is higher in Switzerland than across the OECD. According to the organisation, 19% of those over 64 in Switzerland are at risk of poverty, compared to an OECD average of 13%.

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Large email hack reported – Swiss agency tool lets you check if your account was compromised

2017-12-10

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2017-12-10

It’s the question lurking in many people’s minds, especially during the frenzy of online Christmas shopping: has my email account been hacked? MELANI has got your back – up to a point. The Reporting and Analysis Centre for Information Assurance (MELANI), is part of the Swiss Federal Intelligence Service.

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Airbnb charges some customers more than others, particularly the Swiss

2017-12-08

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2017-12-08

AirBNB
Many Swiss residents travel to neighbouring eurozone countries for their holidays. These countries are close and Swiss francs go far there. However, to get the most out of a strong currency you need a good exchange rate. If a Swiss resident presenting euro cash at a checkout in Germany or France was told they couldn’t pay in euros because they live in Switzerland – “I’m sorry sir but you live in Switzerland, you must pay in Swiss francs at our...

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Swiss village offering to pay people to live there inundated with applications

2017-12-03

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2017-12-03

After the Swiss mountain village of Albinen hatched a plan to pay parents (CHF 25,000 each) and children (CHF 10,000 each) to move there, it has been inundated with applicants. Articles about the offer have been published by Time, The Sunday Times, The Sun, El Pais, and many other publications. Rather than celebrating, the picturesque town’s administration is unhappy. It published a statement on its website accusing the media of false reports that...

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Amazon coming to Switzerland

2017-12-01

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2017-12-01

Amazon Prime
According to the newspaper Bilanz, Amazon has signed an agreement with Swiss post to provide rapid customs clearance. The head of postal customs, Felix Stierli, confirmed discussions with the company.A maximum customs clearance time of 3 hours will allow 24-hour delivery, one element of Amazon’s Prime offer.

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Where an average Swiss household spends its income

2017-11-25

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2017-11-25

Swiss
A recent report from Switzerland Federal Statistical Office shows how an average Swiss household spends its income. In 2015, the mean income was CHF 9,946 per month, including all forms of income and any 13th month payment received at the end of the year.

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Swiss still richest, according to Credit Suisse

2017-11-19

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2017-11-19

1 Franc
The Credit Suisse 2017 Global Wealth Report, shows total global wealth rose 6.4% to USD 280 trillion in 2016, taking it to the its highest level since 2007, before the financial meltdown in 2008. Globally, average wealth per adult was USD 56,540. In Switzerland, the same figure was USD 537,600 (CHF 533,000), close to ten times the global average, placing Switzerland in the lead, if Iceland – with unreliable data – is ignored.

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Health insurance rise in 2018 even higher, according to new calculation

2017-11-08

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2017-11-08

Health Insurance
At the end of September the Swiss government announced an average nationwide health premium rise of 4% in 2018. This government calculation is rather narrow. It only looks at the price of standard compulsory insurance, including accident cover, for an adult with a CHF 300 deductible. Price comparison site bonus.ch calculates that this policy configuration only applies to 18.3% of residents.

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