Tag Archives: Business & Economy

In Switzerland, Gruyère is a cheese with a strict recipe originally produced in a region (with a town) of the same name in the Swiss canton of Fribourg. On 7 January 2022, a judge at the United States District Court for the Eastern District of Virginia affirmed a ruling by the U.S. Patent and Trademark Office (USPTO) that Gruyere is a generic word that cannot be exclusively reserved for Switzerland’s distinctive Gruyere cheese. Swiss Gruyère AOP – © David Tonelson | Dreamstime.comThe name...

From 1 January 2022, the cost of posting a standard letter for next day delivery (A-class) is 10% higher and a B-class letter 6% higher. These price hikes are the first of their kind in 18 years, reported RTS. © Christin Millhill | Dreamstime.comThe cost of posting a standard A-class letter is now CHF 1.10, up from CHF 1.00, the cost until 31 December 2021. The price of posting a standard B-class letter is now CHF 0.90, up from CHF 0.85. The price rise, announced in mid-August 2021,...

On December 2021, the Swiss government allocated CHF 45.4 million to three hydro projects. © Asdf_1 | Dreamstime.comSwitzerland’s electricity production was once dominated by hydro. In 1970, 90% of the electricity produced in Switzerland was generated using hydro. The remainder came from nuclear (5%) and fossil fuels (5%). Roll forward to 2020 and hydro makes up only 58% of production, with 5% produced from other renewables, 33% from nuclear and 5% from fossil fuels. Between 1970 and...

As inflation rises around the world, Switzerland feels the heat too. This week the Federal Statistical Office (FSO) published data on construction, which show an unusually large jump in costs. © Spunky1234 | Dreamstime.comThe costs of construction leapt 2.7% between April and October 2021, according to the data, leaving prices 4.1% higher than a year earlier. The construction index contains both civil engineering works and building construction. Between April and October 2021, the...

The Federal Council has decided to remove the 1% investment stamp duty charged on capital invested in Swiss companies. A majority of parliament are also in favour of the decision. However, some politicians are against the change and have launched a referendum against it. This week the government defended its plan. © Giuseppe De Filippo | Dreamstime.comSwitzerland’s relatively low corporate tax rates are one reason some international businesses choose Switzerland as an international base....

Switzerland might not lead Europe on average income (GDP), but it wins on cost, according to recent Eurostat data. © Daniele Mezzadri | Dreamstime.comThe nations leading on per capita income in 2020 were Luxembourg and Ireland. Average GDP per resident was 2.63 times the EU average in Luxembourg and 2.09 times in Ireland. Average residents of Switzerland, came in third with GDP per head of 1.60 times the EU average. However, on costs, Switzerland takes the lead with prices 1.59 times...

According to the latest report by the U.S. Department of the Treasury released this week, Switzerland is no longer defined as a currency manipulator, a status it has held for some time. © Diego Grandi | Dreamstime.comTo be classified as a currency manipulator by the U.S. Treasury a nation has to fulfil three criteria. It has to have a bilateral trade surplus with the United States of at least $15 billion, a current account surplus of at least 3% of GDP and a persistent, one-sided...

© Petrina Calabalic | Dreamstime.com The gross mean household income in Switzerland was CHF 114,984 (US$ 125,000) in 2019, according to the Federal Statistical Office (FSO). Overall, 40% of households in Switzerland had income over this mean while 60% brought in less. 73% of this income came from working, 23% came from pensions, welfare and household transfers such as alimony, and 4% from investment income. In many places an income this high would offer a life of...

© Marlon Trottmann _ Dreamstime.com This week, the Federal Council rejected two very different initiatives aimed at changing the state pension system. In common with much of the developed world, Switzerland is facing a large gap between the money required to fund state pensions and the money flowing in to pay for them, a challenge driven by increasing life expectancy, a rise in the number of pensioners as the population ages and the way the system is funded....

The gross mean household income in Switzerland was CHF 114,984 (US$ 125,000) in 2019, according to the Federal Statistical Office (FSO). © Petrina Calabalic | Dreamstime.comOverall, 40% of households in Switzerland had income over this mean while 60% brought in less. 73% of this income came from working, 23% came from pensions, welfare and household transfers such as alimony, and 4% from investment income. In many places an income this high would offer a life of mild extravagance....