Why Switzerland's Is So Rich

Switzerland is a mountainous Central European country, home to numerous lakes, villages, and the high peaks of the Alps. Its cities contain medieval quarters, with landmarks like capital Bern’s Zytglogge clock tower and Lucerne’s wooden chapel bridge. The country is also known for its ski resorts and hiking trails. Banking and finance are key industries, and Swiss watches and chocolate are world-renowned. But how is Switzerland so rich and expensive?

It all begins before the start of the world wars. Switzerland preferred to remain neutral and that had a huge impact on its economy and politics. When the war ended, while the whole of Europe was in ruins, Switzerland was hardly touched. The two world wars of the 20th century showed that Switzerland is capable of retaining its neutrality while keeping all its industries and financial sector intact. That made the country been seen by the world's rich as a safe place to keep their money. Indeed, much of the post-war surpluses accumulated by industrialists around the world were either invest in Wall Street for growth, or in Switzerland for safe-keeping.

But that’s not all as Switzerland, despite having very few natural resources of its own, has long managed to cash in on the goods of others. The country’s most valuable export is gems and precious metals (bringing in an impressive $98.2 billion last year), followed by pharmaceuticals and machinery (the imports list is more or less the same). That's pretty much why and how Switzerland is so rich.

Why is Switzerland expensive and how do people live there?

Switzerland had attracted many rich people from the past until now. More and more wealthy people either live there or go often to visit. Since rich people visit it, it has to be expensive but that's not the only reason. Other reasons are because Switzerland citizens actually have very high-paying jobs. People there work hard, spend little and save much, that's their culture as many have noticed. Another way the country keeps its economy so high is that citizens pay a big part of their salary to taxes.

Tourism

We all want at least once to go visit Switzerland. Some to ski, some for hiking, some others to visit its beautiful landscapes, and some just for the experience. For whatever reason you want to go it is a gorgeous place in winter/summer! Even though it is a bit expensive... Switzerland attracted last year 11 million tourists. It is worth the money for sure.