Switzerland has one of the most stable economies in the world, thanks to the Swiss franc. This stability attracts investors from all over the world, making banking and finance the main sectors supporting the Swiss economy. When it comes to personal finance, expats should prepare themselves for expensive housing and pricey healthcare.
Before you move to Switzerland, it’s important to have a basic understanding of the economy and banking system at the very least — money makes the world go round after all. The Swiss franc has been around since 1848 and, since then, the government has kept a tight hold on Switzerland’s economy. Although it is only used in Switzerland, the Campione d’Italia, and Liechtenstein, the Swiss franc is the sixth-most traded currency in the world. It is often purchased in times of economic turbulence and, if Switzerland falls victim to economic difficulties, it is common practice for banks to offer negative interest rates to ensure that Switzerland comes out the other side of the crisis.