Switzerland is home to an estimated 110 billionaires — one for every 80,000 people — with a combined wealth of $338 billion, outranking other super-rich hotspots. What makes it such an attractive place for the uber-rich, and how does that extreme wealth affect the rest of Swiss society?
The numbers are staggering: in Switzerland, a remarkable 1 in 7 adults is a millionaire. This is five times the rate found in the United States, proving that the Swiss approach to finance, stability, and lifestyle is uniquely effective at building and preserving wealth.
Most remarkably, the report found that Switzerland accounts for 1.7% of the world's wealthiest 1% of people. This is despite Switzerland having just 0.1% of the world's population. Switzerland has long attracted rich foreigners, enticed by its high wages, stable economy, and favorable tax rates.
If you thought most billionaires soak up sun on the Gold Coast or hide out in Zug or Schwyz, you may be surprised to know that 12 of 50 richest people in the country call the Canton of Geneva their home (according to the Swiss business magazine Bilanz).
According to the most recent statistics from the Swiss Federal Statistical Office, the median gross monthly salary for full-time employees was CHF 6,788 (USD 7,689) in 2022, translating to an annual income of approximately CHF 81,456 (USD 92,271).
In contrast, in Switzerland, the culture of renting is very strong. Naturally, this is a main reason for low rate of homeownership. In fact, the culture of renting is so strong that in Switzerland, renting is more common than buying a home.
Average per-capita wealth in Switzerland rose last year to $687,000 (CHF561,000), the UBS Global Wealth Report said on Wednesday. The Alpine nation retains its position as the richest country in the world, followed by the United States, where wealth has risen sharply.
Swiss private banks are legendary. They're trusted for their discretion, expertise and ability to preserve and grow fortunes across generations. Ultra-high-net-worth individuals don't just bank in Switzerland; they build entire financial strategies around the country's stability, security and tax efficiency.
How high is the upper class income in Switzerland? According to the FSO, the upper class earns at least 150% more than the Swiss middle class and thus starts at gross 10'128 Franconia per month. Notice: If someone earns exactly the median wage, the person is exactly at the median in the income distribution.
Notwithstanding this, London still contains some of the world's most exclusive residential suburbs, including the likes of Belgravia, Chelsea, Hampstead, Knightsbridge, Mayfair, Regents Park, and St. Johns Wood. London has 258,000 resident millionaires, 384 centi-millionaires, and 36 billionaires.
Homelessness has long become a problem in wealthy Switzerland. According to the Federal Office for Housing, more than 2000 people live without a permanent roof over their heads. Some have been living for years in assisted living facilities, in emergency shelters or in public spaces, on the streets.
There is no free healthcare in Switzerland and individual private health insurance is compulsory for all residents. Both public and private healthcare in Switzerland is excellent. Facilities are clean and well equipped, waiting times are usually short, and medical professionals often speak English.
According to the Swiss Federal Statistical Office and World Salaries, the average salary in Zürich is CHF 100,000 per year or CHF 51.28 per hour, which is roughly 113,579.20 USD. As you can see, the average salary in Zürich is very high compared to other countries.
