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In 2020, the Covid-19 pandemic hit the Swiss economy. GDP fell by 2.9% compared to 2019. However, despite the fall in economic output the number of bankruptcies fell by 6.7% compared to 2019. © Deaconsdocs | Dreamstime.comIn addition to a fall in the number of bankruptcies, the sum lost from closed bankruptcies fell 27%, after adjusting for the CHF 6.5 billion lost from the collapse of the Erb empire, Switzerland’s second largest bankruptcy after Swissair. Rolf Erb, the last CEO of the...

During 2020, average annual inflation was –0.7%, according to Switzerland’s Federal Statistical Office (FSO). Since the beginning of 2021 it has begun to rise. © Vlad Ispas | Dreamstime.comIn January 2021 inflation was 0.1%. In February it rose to 0.2% and it March it was 0.3%. Since the end of 2020, Swiss prices have risen by nearly 0.6% (0.56%). If the current inflation rate were to continue until the end of the year annual inflation in Switzerland would hit 2.25%. The sharpest...

Statistics from Switzerland’s Federal Statistical Office show a dramatic fall in the number of crimes during the first wave of the pandemic in 2020. © Releon8211 | Dreamstime.comAcross all of 2020, 421,678 crimes were recorded, 2.4% fewer than the year before. Drug crimes (-9%), immigration crimes (-12%) and burglaries (-10%) were all down. At the same time violent crimes rose 3%, in particular serious acts of violence (+9%), which were driven up by suicide attempts (+22%), rape (+5%)...

This article was first published on 365 club.ch Residents of Switzerland have long grumbled about the nation’s high prices compared to neighbouring countries.  On 19 March 2021, the government moved a step closer to removing two of the competitive barriers inflating Swiss prices. © Ocskay Mark | Dreamstime.comThere are many factors behind Switzerland’s high prices. Chief among them are exclusive import arrangements that allow foreign brand owners to force higher prices on to...

Researchers in Switzerland have developed an invisible lock made of a printed transparent electronic material. [embedded content] The transparent touch sensitive material can be placed anywhere, which means, unlike a traditional keypad, making it very difficult for an intruder to even know where to press. The team at Switzerland’s EMPA research centre is focused on developing thin film photovoltaics. The polymer film has electronic circuits made from conductive metal oxide-based...

As Switzerland’s population ages the number of people paid state pension is rising relative to the number of workers funding it. Since 2014, more has been paid out than has been paid in. © Germana Marengo | Dreamstime.comThe most effective way to fix this imbalance is to raise the pension age. If the average life expectancy of a retiree is 15 years, then raising the pension age by one year will cut the cost by nearly 7%. Switzerland is one of a few countries that still has a lower...

A recently published survey run by Gastrosuisse, a hotel and restaurant industry association, suggests that 18.4% of businesses in the sector have already closed down due to the business disruption caused by the Covid-19 pandemic. © Ralf Liebhold | Dreamstime.com18.4% of the businesses polled reported that they had already closed with no plans to reopen. Without financial aid 23% reported that they will probably disappear. Only 34.9% said that they were certain they would reopen....

Swiss chocolate sales went into steep decline in 2020, according to ChocoSuisse, Switzerland’s chocolate industry association. © Phattha Intharakamhaeng | Dreamstime.comThe amount of chocolate produced in Switzerland in 2020 was 10% lower than in 2019 and sales revenue was down by 14.5%, a sharp drop. In 2020, Swiss chocolatiers produced around 180,000 tons, 20,000 tons less than the year before and sales fell by CHF 260 million to CHF 1.53 billion. The export business, which makes up...

A recent parliamentary vote on whether to issue a formal request to the Federal Council, Switzerland’s executive, to reopen restaurants on 22 March 2021, found a majority of 97 to 90, according to Le Matin. © Tetiana Soares | Dreamstime.comThe main parties supporting the demand were the Swiss People’s Party (UDC/SVP) and the PLR (FDP). The Socialist and Green parties were against it. The formal demand to the Federal Council stipulates: Increased testing and vaccinationAn end to the...

The economic impact of the Covid-​19 pandemic was unequal, hitting low-income households far harder than those on high incomes, according to a study published by the KOF Swiss Economic Institute at ETH Zurich. © Nikiforov Oleg | Dreamstime.comInfection rates rise with incomeMore people in the higher income range reported being infected with Covid-19 than those in lower income groups. Among those with incomes below CHF 4,000 (US$ 4,400), 4% said they had tested positive and a further 8%...