Switzerland is a small country that enjoys great cultural diversity. People from around 140 countries live in Switzerland. One in five persons does not have a Swiss passport. Switzerland's entire resident population is 8.57 million.
Cost of living
Switzerland is one of the most expensive countries in the world. The high prices for consumer goods, housing and health insurance are partly due to the relatively high level of salaries in Switzerland. According to a comparative international study conducted by UBS, the Swiss economic development hubs, namely Zurich, Geneva and Basel, are among the front runners among the cities with the highest gross pay for all types of professions.
The majority of Switzerland's residents are tenants and currently there is a shortage of apartments on the market, above all in urban areas, especially in and around Geneva and Zurich. Housing costs are therefore comparatively high. In addition, you will find that the compulsory health insurance premiums can be very high.
According to the Swiss Federal Statistical Office, the main items of expenditure in a typical Swiss household budget are social security contributions (10%), health insurance (6.2%) and taxes (12.3%), accommodation and energy (14.7%), communication (2%), transport (8%), food (6%) and leisure (5.4%). In 2020, the median wage for a fulltime job was CHF 6'665 per month.
