Author: switzerlandtimes.ch

The winter and recent spring snowfall has brought record amounts of snow to Switzerland. Experts ponder whether this could lead to floods as it did in 1999. Snowfall in Switzerland this winter was contrasted by altitude. Down low (below 2,000m) there was significant rain, leaving many low altitude ski resorts short of snow. However, above 2,000m there were record levels of snowfall in many places. On the Säntis, a 2,502m peak in the Alpstein Mountains in eastern Switzerland, the snow depth reached nearly 7m, more snow than the peak has seen in 25 years, reported SRF. On average the snow…

Consumer prices in Switzerland increased by 0.316% in April 2024, rising 1.4% over the previous 12 months, reported Switzerland’s Federal Statistical Office (FSO) this week. However, annualised, the monthly rate comes to 3.79%, a rate well above the Swiss National Bank’s (SNB) preferred maximum of 2%. April’s 0.3% monthly price increase was driven by several factors including rising prices for packaged holidays abroad (+6.7%), airfares (+3.4%) and fuel (+3.1%). In contrast, gas, wood pellets and hotels were cheaper. Most of the monthly jump in prices came from imported goods, which accounted for 81% of monthly inflation. During April the Swiss…

In today’s world, financial freedom is more than just a dream; it’s a tangible goal that individuals strive to achieve. With the advent of digital banking, accessing and managing finances has become more convenient and efficient than ever before.  Financial Freedom is the state of having enough income, savings, and investments to live the desired lifestyle without relying on a traditional job. It involves being debt-free, feeling in control of finances, having the ability to cover unexpected costs, saving money each month, and having disposable income available. Achieving financial freedom requires discipline, planning, and making sacrifices to reach financial…

This week, the Swiss National Bank (SNB) announced a record quarterly profit for the first quarter of 2024. The result was largely predicted after the SNB made a surprise interest rate cut, which led to a weaker Swiss Franc. Switzerland’s central bank is unusual. It is privately owned (mainly by a German citizen) but distributes much of its profit to the nation’s cantons and federal government. This feature adds to the politicisation of monetary policy in Switzerland as it increases the likelihood voters and politicians view the bank primarily as a cash generator rather than the custodian of a stable…

The severe drop in temperatures across Switzerland last week froze large areas of wine grape vines. Parts of Vaud and Geneva have been particularly hard hit, reported RTS. Wine growers now fear for their coming grape harvest. While it is too soon to quantify potential harvest damage, one farmer in the canton of Geneva reported three quarters of her vines completely freezing. However, the true level of damage will only be clear once the fruit begins to develop. In any case the wine grower expects her harvest to be half of what it would have been. 2017 was a similarly…

An idea put forward by the FDP/PLR to have certain rejected asylum seekers sent to a country other than the one they came from found support in a parliamentary commission this week, reported SRF. The comission voted 14 to 11 in favour of the idea. Normally, asylum seekers who have their applications rejected are returned to their home country. However, the nation of Eritrea will not accept its own citizens back unless they return voluntarily, leaving open the question of where to send those unwilling to return. The idea put forward by the FDP/PLR would be to arrange to have…

Switzerland has three main languages, and liguistic divides run through some cities such as Biel/Biennes and Freiburg/Fribourg. In Swiss cities in general, French is on the rise. In bilingual cities where some residents speak French at home and others German, French is gaining ground fast, according to data from the Federal Statistical Office (FSO). There are several reasons for this. Switzerland is a trilingual nation, quadrilingual if the rarely spoken language of Romanche is included. However, many Swiss are monolingual, speaking only their mother tongue. In addition, many of those who are bilingual are likely to speak English alongside their…

For decades, the finance industry has been on a quest to realize its goal of making banks accessible to all. But unfortunately, this remains to be elusive, with Fast Company reporting that 1.5 billion people worldwide are still unbanked based on the latest 2024 data. In the US alone, at least 6 million people don’t have access to any form of financial service. To be “banked” means to have access to financial services offered by banks and financial institutions. On the other hand, the “unbanked” and “underbanked” may have cash, but they don’t have the means to join the financial…

Electricity production in Switzerland rose by 13.5% in 2023, reaching a new record of 72.1 billion kWh, reported the Federal Office of Electricity (FOE). Production from both hydropower plants (+21.7%) and nuclear plants (+1%) was higher. Hydro (56.6%) and nuclear (32.4%) made up 89% of the total. The remaining 11% came from thermal and renewable sources. The boost in production allowed Switzerland to export more electricity than it consumed. Imports of 27.5 billion kWh were offset by exports of 33.9 billion kWh, netting 6.4 billion kWh. This represents a significant turn around from 2022 when Switzerland imported 3.4 billion kWh more electricity…

According to the Federal Statistical Office (FSO), nearly 35,000 new vehicles were put into circulation across Switzerland in March 2024. And while this figure is 5% below the number in March 2023, the size of private vehicles rose, a now well established trend. The only group of private vehicles rising in number was non-plug-in hybrids (+7%). The numbers of new plug-in hybrids (-5%), diesel (-6%) and petrol (-17%) car registrations fell. Those for electric vehicles remained flat. Over the last few years, the size of newly registered vehicles has been growing by 1 cm or 2 cm every year, especially…