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EARNINGS

Adecco boosts third quarter profit 13 percent

The world's biggest temporary staffing group Adecco said on Tuesday its third quarter profit rose 13 percent to €145 million ($199 million) and forecast a strong performance for the rest of the
year.

Published: 8 November 2011 09:15 CET

The results, which were in line with analysts’ expectations for the Switzerland-based firm, were built on a four percent increase in revenues to €5.27 billion for the three months ending September.

Adecco said it expected “another strong performance in the fourth quarter and remains absolutely confident it will achieve its target profit margin of above 5.5 percent in the medium term”.

France, Adecco’s biggest market, posted a seven percent growth in revenues to €1.6 billion while the United States saw a five percent rise to €903 million, the company said.

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EARNINGS

It’s official! Switzerland is the most expensive country in the world

While anyone living in Switzerland might not have needed the reminder, a new study shows the cost of living in Switzerland is the highest of anywhere in the world.

Published: 4 February 2020 10:22 CET
It's official! Switzerland is the most expensive country in the world
Photo: FABRICE COFFRINI / AFP

Switzerland topped the list well ahead of Norway in second place, with Iceland, Japan and Denmark rounding out the top five. 

The rankings, put together by CEO World magazine, took into account rent, groceries, purchasing power, restaurants and the cost of living in 132 countries across the globe. 

European countries featured prominently in the top 20, while countries in Asia and the Caribbean were also prominent. 

Switzerland top of the list

Not only did Switzerland top the overall list, but it also ranked highly in several individual metrics, making the cost of living there officially the highest in the world. 

READ: Everything you need to know about the cost of living in Switzerland

Groceries in Switzerland are also more expensive than anywhere in the world, ranking a full 30 points higher than second-placed South Korea. 

But if you’re looking to avoid the grocery shop, eating out in Switzerland is also more expensive than anywhere else in the world. 

The only bright light in the rankings is Switzerland’s national purchasing power – which is also top of the list – perhaps explaining why the Swiss love to travel or even just shop abroad. 

This is of course more beneficial elsewhere, with the benefits of the country’s excellent purchasing power somewhat eroded by high prices at home. 

Photo: CEO World

In fact, the only metric Switzerland doesn’t top is rental costs. That’s not to say renting in Switzerland is cheap, but it trails Hong Kong, Singapore and Luxembourg on the international rent index. 

READ MORE: Eight things you need to know before renting in Switzerland 

Least expensive countries

Among the least expensive countries, central Asian nations rank highly. Pakistan is officially the least expensive, followed by Afghanistan, India and Syria. 

The least expensive European country on the list is Kosovo (124th) followed closely by Georgia (123rd). Romania is the least expensive European country on the list, in 99th place. 

Top ten most expensive countries as per CEO World magazine

1. Switzerland

2. Norway

3. Iceland

4. Japan

5. Denmark

6. Bahamas

7. Luxembourg

8. Israel

9. Singapore

10. South Korea

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