Switzerland is a great example of how addressing poverty and encouraging economic growth can lead to a multitude of positive outcomes. It is a country full of history, rich culture and magnificent mountains. Recently, the country has popped up on the radar as its general state of living has risen to a considerably high level. Many have started to consider moving to the alpine country as a result. Below are the top 10 facts about living conditions in Switzerland.
Top 10 Facts About Living Conditions in Switzerland
- The cost of living in Switzerland is extremely high. The value of the franc increased when the country switched to a floating exchange rate. Bern, Zurich, and Geneva were ranked among the most expensive 15 cities in the world.
- The high cost of living isn’t a huge problem for Swiss citizens as the net financial wealth of the average household in Switzerland is $128,415, compared to the Organisation for Economic Co-operation and Developments reported an average of $90,570. The net adjusted disposable income for the average household sits at $36,378 compared to the OECD reported an average of $30,563. This means that Swiss households have over $6,000 more to spend per year on goods and services. Switzerland was placed third on the scale of the highest amount of disposable income in Europe.
- Overall poverty is low. Only 6.6 percent of the population is reported to live in poverty, and only 4.6 percent live in extreme poverty. The rate of poverty has been decreasing steadily since 2007.
- Healthcare in Switzerland has gained a reputation of its own. Their combination of private, subsidized private and public healthcare systems experience no wait-lists, highly qualified doctors, hospitals and medicals facilities with the best equipment seen around Europe. However, the universal healthcare system is not free, nor is it tax-based. Health insurance in Switzerland is mandatory, and the out of pocket payments and monthly premiums are pricey for the individual. Swiss health insurance is reported to cost around 10 percent of the average Swiss salary.
- Switzerland has a high-quality education system as well. The country comes in at nine out of 65 countries in an educational standards survey given to 15-year-olds. Unlike most countries, the Swiss have a decentralized education system that is not paid for by the government. The 26 member states that make up the country are primarily responsible for the system. Education has a multilingual focus, which encourages international students and the option for public, private, bilingual and international schools.
- The country has a life expectancy of 83 years, which is three years higher than the OECD average of 80 years. The life expectancy is high despite the slightly higher than average level of atmospheric pollutants that are damaging to the lungs. Reports measure the rate of pollutants at 14.5 micrograms per cubic meter, whereas the average is 13.9 micrograms per cubic meter.
- Switzerland ranks below average in civic engagement. It has one of the lowest levels of voter turnout in the OECD at 49 percent; whereas, the reported average is 69 percent. The gap between voters is large as well. Fifty-nine percent of the top 20 percent of the population participates, in comparison to 41 percent of the lowest 20 percent of the population. This is a larger gap than the average.
- Crime continues to fall to lower rates in Switzerland. In fact, in 2017, crime was down by more than 6 percent. Burglaries are the most common offense in Switzerland, making up two-thirds of the reported criminal offenses. Burglaries had also decreased by 6 percent, but police threats and cybercrime were reported to rise last year.
- Childcare was also quite expensive in Switzerland. As a result of this, a temporary programme has set out to increase the number of child care facilities in the country. This will increase the number of options parents have for childcare and lower the rate as supply and demand will encourage competition and lower prices.
- Overall, Swiss are much more satisfied with their living conditions than most. They scored a 7.5 out of 10 on the scale for satisfaction, compared to the OECD average of 6.5.
Switzerland is doing quite well. The economic growth along with the decline of poverty rates have resulted in better childcare, education, rates of disposable income and increased safety. These top 10 facts about living conditions in Switzerland act as a clear paradigm of how addressing poverty and encouraging economic growth has a positive domino effect on other aspects of life. Not only do people live better but they also feel happier and enjoy a closer sense of community. Addressing global poverty does much more than just save lives, it betters the individual, the country, the economy and the impact on the rest of the world.