Switzerland, Geneva

Overview

Switzerland, Geneva Geneva is the capital of the Republic and Canton of Geneva. Geneva's economy is mainly services oriented. The city has an important and old finance sector, which is specialized in private banking (managing assets of about 1 trillion USD) and financing of international trade.

Switzerland is in Central Europe, east of France, north of Italy. The climate is temperate, but varies with altitude with cold, cloudy, rainy/snowy winters and cool to warm, cloudy, humid summers with occasional showers.

The official languages are French, German and Italian. Romantsch, a language with both German and Latin roots, is commonly spoken in the south-eastern Graubunden / Grisons region. English is widely spoken, though Swiss people will be pleased if visitors are able to exchange a few words in a local language. The main religion is Christianity.

The economy of Switzerland is one of the world's most stable economies. Its policy of long-term monetary security and bank secrecy has made Switzerland a safe haven for investors, creating an economy that is increasingly dependent on a steady tide of foreign investment.

The Swiss tend to be formal both in business and social settings. Expatriate business dress is primarily a formal suit.

The security risk for expatriates in Switzerland is low. Risks include low levels of petty crime and the underlying threat of terrorism. Other risks include the severe winter weather.

The currency of Switzerland is the Swiss Franc (CHF). Banking is on a par with the rest of Western Europe and North America.

Medical facilities are good, however the cost of treatment for expatriates from outside the EU can be high.

The population of Geneva is 199,000 (2019 est.), while the inflation rate (CPI) is -0.3% for Switzerland as at October 2019.

Xpatulator Hypothetical Tax for Switzerland is complex as it is based on the current personal income tax rates which are levied at three different levels. Federal level (Single Taxpayer 0%-13.2%), cantonal level (Zurich 0%-13%), and at the municipal level (Factor of cantonal tax, which varies between 0.75 and 1.34 (City of Zurich: 1.19).

Cost Of Living

The cost of living for expatriates / professional migrants in Geneva as at 1 October 2019 is very high in comparison to other places in the world.

We have collected prices for the same items, world wide, and converted them to $USD so that we can compare the cost of 13 different baskets in 780 global locations. For each basket, compared to New York, the equivalent cost in Geneva is as follows:
1) Alcohol (where available) & Tobacco: for items such as beer, spirits, wine and tobacco related products such as cigarettes. A basket costing USD$1000 in New York costs USD$800
2) Clothing: for items such as business, casual and children's clothing and footwear. A basket costing USD$1000 in New York costs USD$1520
3) Communication: for various communication costs such as home telephone rental, internet subscription, mobile service provider tariff and data costs. A basket costing USD$200 in New York costs USD$318
4) Education: for items such as creche / pre-school fees, primary school fees, high school fees and tertiary study fees. A basket costing USD$30000 in New York costs USD$29400
5) Furniture & Appliances: for items such as dining table and chairs, home entertainment, kitchen appliances, and sofas. A basket costing USD$2500 in New York costs USD$2075
6) Groceries: for items such as consumables, cleaning products, dairy, fresh fruit & vegetables, general food products, snacks, soft drinks. A basket costing USD$1000 in New York costs USD$1090
7) Healthcare: for general heath care, doctor visits, hospital stays, non-prescription medicine, and medical insurance. A basket costing USD$1000 in New York costs USD$900
8) Household Accommodation: for items such as apartment rent, house rent, property purchase, mortgage rate, and utilities. A basket costing USD$5000 in New York costs USD$3950
9) Miscellaneous: for items such as dry cleaning, linen, magazines, newspapers, office supplies, and postage stamps. A basket costing USD$500 in New York costs USD$580
10) Personal Care: for items such as cosmetics, hair care, and toiletries. A basket costing USD$500 in New York costs USD$490
11) Recreation & Culture: for items such as books, cinema, sport and theatre tickets. A basket costing USD$500 in New York costs USD$560
12) Restaurants Meals Out and Hotels: for items such as hotel daily room rates, meals and beverages in a restaurant, and take away food and beverages. A basket costing USD$1000 in New York costs USD$1240
13) Transport: for items such as fuel (petrol/gasoline), car hire, public transport, vehicle purchase and maintenance. A basket costing USD$1000 in New York costs USD$1330

Geneva is 69.9% more expensive than Houston TX for groceries, 84.3% more expensive for household costs than Kuala Lumpur, and 125.3% more expensive for transport costs than Dubai.

Geneva is ranked as a minimal hardship location.

The hardship premium for Geneva for an expat from Perth, is for example 0%, i.e. host location (Geneva) premium of 10% minus home (Perth) location premium of 10%.

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The cost of living for expatriates / professional migrants in Geneva as at 1 October 2019 is very high in comparison to other places in the world.

Geneva is ranked as a minimal hardship location.