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COST OF LIVING

Why Switzerland has again been ranked the ‘best expat destination’

For the third year running, Switzerland has been ranked atop a worldwide list of best destinations for expats and internationals.

Published: 20 October 2021 16:25 CEST
Updated: 21 October 2021 12:56 CEST
A person windsurfing on Lake Silvaplana, Switzerland
A person windsurfing on Lake Silvaplana, Switzerland. Switzerland always ranks highly in terms of quality of life. Photo by Alessio Soggetti on Unsplash

Switzerland has beaten out all other countries to be ranked on top of the list for best destinations for expats in a global survey. 

Despite the high cost of living, foreign nationals value the quality of life in Switzerland, making the country the top destination for expatriates for the third year in a row, 

The report, entitled the Expat Explorer Survey 2021, is an annual annual study by British financial services firm HSBC.

READ MORE: Ten things Zurich residents take for granted

After settling in the country, 91 percent of those polled thought their environment was better, and 86 percent felt safer.

The survey ranked nations based on three separate categories: quality of life, aspirations and future outlook. 

Switzerland ranked first in terms of quality of life and aspirations, coming in fifth in future outlook. 

Stability was a major feature of why Switzerland ranked so highly, with 92 of respondents saying they expect Switzerland to remain stable in the coming year, regardless of the impacts of the pandemic. 

Switzerland the only mainland European country in top ten

Switzerland was the only mainland European country to make it into the top ten. The closest was the Netherlands, which came in 11th. 

Australia and New Zealand were ranked second and third, followed by the United Arab Emirates.

The study took the unusual approach of breaking up the UK into different island regions. 

The Channel Islands Guernsey (fifth) and Jersey (sixth), ranked highly, along with the Isle of Man (seventh).

The Arab states of Bahrain (eighth) and Qatar (tenth) also made the list.

Zurich versus Geneva: Six big differences between Switzerland’s two biggest cities

Long ranked highly, Singapore slipped into ninth place.

Switzerland’s closest ranked neighbour was France (21st), followed by Austria (23rd), Germany (27th) and Italy (45th). 

Turkey ranked on the bottom of the list, with low scores in each category. 

The survey was carried out among 20,460 people living in 46 countries.

Switzerland a favourite of internationals

Switzerland has long been a favourite of international workers, otherwise known as expats. 

An estimated 25 percent of the Swiss population is made up of foreigners. This figure can rise as high as 50 percent in some cantons. 

Generally speaking, Switzerland ranks consistently well in terms of quality of life, which takes into account things like work-life balance, public transport, parks and collective amenities and workplace conditions. 

Switzerland does tend however to rank poorly when it comes to cost of living. 

In another study published earlier in 2021, Switzerland placed in the middle of the road due largely to cost of living concerns as well as feelings of isolation. 

The study found Switzerland was the second worst destination worldwide for the cost of living (58th), the survey found. Only Hong Kong performs worse. 

READ MORE: Why is Switzerland rated poorly by its international residents?

In fact, 65 percent of respondents said they are dissatisfied with the prices in Switzerland (34 percent globally).

In terms of ease of settling in, the country is nearly at the bottom, in the 52nd place.

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ENERGY

EXPLAINED: How high will heating bills be this winter in Germany?

The cost of energy is expected to rise again this coming winter, even though the government's price cap is supposed to be in effect until April 2024. Here's what households can expect.

Published: 31 October 2023 10:31 CET
Updated: 5 November 2023 22:45 CET
EXPLAINED: How high will heating bills be this winter in Germany?

The onset of winter will raise concerns for many in Germany about the cost of heating their homes, with memories of last year’s rocketing prices and concerns over domestic gas supply resurfacing. 

But, compared to last year, the energy prices have now largely stabilised, though they are still higher than in 2021.

The stabilisation in prices is partly thanks to the government’s energy price cap which came into force earlier this year to cushion the blow of soaring energy prices by capping electricity costs at 40 cents per kilowatt-hour and natural gas at 12 cents.

READ ALSO: Germany looks to extend energy price cap until April 2024

The federal government plans to maintain this cap until the end of April, though this could be extended even longer, if necessary. 

How high are heating costs expected to go this year?

For the current year, experts from co2online expect somewhat lower heating costs than last year.

Heating with gas, for example, is expected to be 11 percent cheaper in 2023 than in 2022, costing €1,310 per year for a flat of 70 square metres. 

The cost of heating with wood pellets will drop by 17 percent to €870 per year, and heating with heating oil will cost 19 percent less and amount to €1,130.

According to co2online, the costs for heating with a heat pump will drop the most – by 20 percent to €1,1105. The reason for this, according to co2online, is a wider range of heat pump electricity tariffs.

Tax hikes in January

Starting January next year, the government will raise the value-added tax on natural gas from seven to nineteen percent.

Alongside this, the CO2 price, applicable when refuelling and heating, will also increase.

According to energy expert Thomas Engelke from the Federal Consumer Association, these increases will mean that a small single-family household with three or four people that heats with gas would then pay about €240 more per year for gas.

“That’s a lot”, he said. 

Another additional cost factor to consider is that network operators also want to raise prices. However, the federal government plans to allocate €5.5 billion to cushion this increase for consumers as much as possible, so how such cost increases will ultimately affect consumers is currently hard to estimate.

READ ALSO: Why people in Germany are being advised to switch energy suppliers

Overall, it can be said that, from January, consumers will have to brace themselves for higher energy costs, even though massive increases are currently not expected.

Consumer advocate Engelke advised customers to closely examine where potential savings could be made this upcoming winter: “Those who are now signing a new gas or electricity contract should inform themselves and possibly switch. Currently, you can save a few hundred euros. It’s worth it. On the other hand, you should also try to save as much energy as possible this winter.”

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