Author: switzerlandtimes.ch

Data published by Switzerland’s State Secretariat for Economic Affairs (SECO) show a sharp rise in the number of people moving to Switzerland from EU/EFTA nations. In 2023, 68,000 people arrived in Switzerland from EU/EFTA countries to live, the highest number since 2008 when 72,100 arrived. The 2023 figure is 29% higher than the number of people arriving in 2022. According to SECO, the rising number reflects Switzerland’s robust employment growth and low unemployment. Immigration and employment go hand in hand, said the agency. Employment growth was solid in 2023, while the unemployment rate reached its lowest level since 2001. As…

On 24 November 2024, Swiss voters will be called on to decide on four things, announced the Federal Council this week. The four votes include one on road and tunnel extensions, two on rental contracts and one on healthcare funding. Road and tunnel enlargement The first is a government plan to extend road infrastructure in six places. Switzerland’s population continues to grow and the amount of time spent stuck in traffic has reached record levels. Three motorway extensions are planned between Geneva and Nyon, Wankdorf and Schönbühl ,and Schönbühl and Kirchberg. In addition, tunnel expansions are planned at Rosenberg, the…

This week, Swiss and its parent Lufthansa group announced fare hikes on flights departing from Europe to cover the cost of complying with European Commission environmental rules, reported RTS. From 1 January 2025, European flyers will pay a surcharge. Anyone departing from the UK, Norway, Switzerland or one of the 27 EU nations will be have the surcharge added to their ticket price. The amount charged will range from 1 to 72 Euros depending on the length of the flight and ticket price. The airline said it would not be able to bear the cost of implementing coming regulations, among…

Switzerland’s housing crisis is pushing low income earners into poverty, warned Caritas this week. According to the charity, high rents are pushing some low income earners into poverty. An acute shortage of housing is pushing rents beyond the level that some people can afford, forcing them to cut back on spending in other areas, said the charity. Some are spending around a third of their income on rent and utilities, roughly double the average proportion of income spent on these things. In Geneva, where the home vacancy rate is 0.42%, 8,000 people were on a waiting list for affordable housing…

Walking next to the Rhone has been banned in the canton of Valais until Monday evening due to high water levels, reported RTS. High temperatures over the last few days have rapidly melted some of the unusually abundant snowfall in April and May 2024. In addition, there has been heavy rain. The combined effect of these two weather events has made the river dangerous. The risk has been assessed at 4 out of 5, according to the Federal Office for the Environment (FOEN). Similar warnings have been issued for Lake Constance in eastern Switzerland. In a town near Zermatt around…

The number of babies born in Switzerland fell to 80,024 in 2023, a birth rate of 1.33 per woman, reported RTS. As recently as 2021, 89,644 babies entered the world in Switzerland. Between 2021 and 2023, the number has fallen nearly 11%. In 2023, the fertility rate in Switzerland reached an historic low after trending down over the last decade. A doctor at a medical clinic in Geneva said a drop of around 20% over recent years can be observed across clinics in Geneva. She said there has been a fall in births across Switzerland, Europe and in countries such…

In 2023, total hours spent in traffic in Switzerland rose 22% compared to 2022, reaching an all time high, according to data from the Federal Roads Office (FEDRO). Across the year, nearly 49,000 hours of traffic congestion were recorded on Switzerland’s motorways, expressways and third-class national roads, 22.4% more than the year before. These roads make up less than 3% of Switzerland’s road network but carry 45% of road traffic. Trucks, vans and other delivery vehicles did around 68% of their mileage on these roads. Nearly 90% of the nearly 49,000 lost hours were due to traffic congestion. Another 5%…

Cars are getting larger. Basel will be the first Swiss city to charge the drivers of large cars more for parking. It is also considering higher taxes for big vehicles, reported SRF. In Basel City space is tight and parking spaces are often difficult to find. To make better use of limited parking space the municipality plans parking fees based on vehicle length, making the city the first to implement such a move. Municipal officials argue that is unfair that someone with a Smart pays the same parking price as someone with a large SUV. On flights a big heavy…

This week, Switzerland’s Federal Council decided to cut CHF 35 off the compulsory annual fee households must pay for public television and radio. The fee will fall from CHF 335 to CHF 300 by 2029, reported RTS. The fee reduction will happen gradually, falling to CHF 312 in 2027 and then to CHF 300 in 2029. In addition, more companies will fall outside the criterion for paying the fee. The minimum annual turnover for qualifying will rise from CHF 500,000 to CHF 1.2 million. This will mean that around 80% of VAT registered companies will not need to pay. The…

Cryptocurrencies are part of the digital banking innovations that are here to stay amid the significant changes in the world of finance. Originally designed to let consumers control their money themselves, cryptocurrency technology has come a long way as it is now accepted by digital banks, hybrid financial firms, and even some traditional banking institutions. Somewhere between 2010 and 2020, bankers realized the unlimited potential of cryptocurrencies and decided to provide support for them via crypto trading markets. One of the pioneering forces in this crypto banking revolution is the digital bank founded by German billionaire and fintech visionary…