The Economy Of SWITZERLAND, Unraveling Swiss Economy
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- เผยแพร่เมื่อ 4 มิ.ย. 2024
- Economy of Switzerland is a post-industrial, highly ‘service-driven’, ‘free-market’ powered by chocolates, cheese, watches and Swiss Banks.
While Swiss people don’t flaunt their wealth, the country is often in the economic news as one of the richest in the world, and with one of the highest GDP per capita of over US $80,000 by the time of writing this.
With its unique national history and location, Switzerland has earned itself a stellar reputation in International Finance. There is more to Switzerland than luxury watch brands like Rolex, Richard Mille, and premium chocolate brands like LINDT and TOBLERONE.
Whether it comes to the high-value services, OR, trains roaming in the high altitudes carrying tourists, OR, exports of pharmaceuticals and agricultural products, OR, its notorious banks protecting your hard-earned or not so hard-earned money, Switzerland, offers TRUST like no other, making itself a financial powerhouse.
#swiss #switzerland #SwissBanks
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“Protecting your Hard earned or not so hard earned money.”😅
Switzerland is like the player who doesn’t talk shit during monopoly and stays quiet as he slowly wins the game.
Noice
They also make side-deals with the other players before the game even starts
Switzerland is like the player who plays by his own set of rules, but is so confident in doing it, that noone dares to critisize it.
Switzerland has already won, but lends everybody money so the game can continue.
I am Swiss by Original my brothers and Sisters, you know what is when Monopoly is finish....you put all the money all the cards back in the box and the real life is going on.....
i am swiss and i never ever can reach 80k the year...is like everywhere view rich and alot poor people life here!!! At end of month be sure we have less than everywhere in the world. In my view is switzerland like Babylons Capital!
It's the people, it's always the people. I lost my camera on a Swiss train, left a claim at the station, and they called me to say someone had found the camera and had returned it to the train station staff. Nobody ever remotely thought of keeping the rather expensive camera for themselves. That to me pretty much summed up why the country is what it is. This was in 1998, and I know Switzerland has changed a bit, but my point still stands. Countries are rich are poor because of what their people do, how they behave and what they can create. It's that simple.
that is true… but in some countries the ppl have no power, cant easily change that and get forced down like some countries in africa and south america
I am from switzerland. Lost my wallet at the train station once. Had essentially everything in it and used my debit card to pay for a bunch of groceries and random stuff. However a camera may be different from a wallet so idk which one is more valuable. But from my experience people here aren’t perfect but compared to france for example it’s much better
@@nanjing78654
An average of 100 burglaries per day
36,419 burglaries and sneak-ins were recorded across Switzerland.
For example, in 2021, the number of residential burglaries in Bavaria nearly halved (-44.5 percent to 2,322 cases).
I would not feel comfortable and always think burglars will eventually kill me
Nope it's not that easy
@@ElioRupp It is actually, Japan is another good example.
Most people overlook how difficult it was for Switzerland to remain neutral while being surrounded by the axis powers, especially given it is a german speaking country.
Completely agree, there was a serious threat of being annexed. I mean it is right in the middle of Italy and Germany.
We have 3 state languages (actually 4 but only a few speak it).
If you want to be in the council, you have to speak at least two of these 3 languages fluently.
@@cedricschlatter4861 Why do they keep the fourth one, Romansch?
I speak German and French fluently, Italian partially (but I can become fluent in a short time).
Switzerland not only helped finance Hitler it is where the Nazis hid most of their wealth. Second part of my comment was said right in this video. WWII was not a grassroots war. Gimme a break. It was orchestrated by big finance for big finance. And at the time Switzerland was top dog. The City of London then converted their colonial and imperial holdings, at the fall of their empire following WWII, into financial assets instead of direct control and became a real nefarious financial center modeled after Switzerland's tax Haven ways. The U.S. and large corporations began hiding their money there before they too aspired to be the next Switzerland. We're talking perhaps over 100 trillion if not more hidden in all these tax havens around the world. Money that was stolen from the poor and tucked into the elitist piggy banks purely for their greedy self-obsessed lives. Perhaps Switzerland can afford to be fair with it's own people, with the elite living amongst the commoners. One of the missing ingredients with the rise of transnational corporations and financialization, where before big money and the other bigs businesses were established in the heart of a community to actually serve the needs of the community and formed mutually beneficial relationships with them. But so Switzerland can afford to do that because they receive these transnationals wealth and can thus easily turn a blind eye to the distorted and corrupt ways this wealth has been achieved. So get real. This guy really justifies the injustice with his comment, sure, swiss banks do evil, but who doesn't (paraphrased) and his whole cheerleader take here.
Mountains make it easier to stay neutral.
I am from India and I love Switzerland!! I lost my bag (which had my passport and cash) in the Swiss train. Later, I found it in the 'lost and found' section of the station, got to know that some passenger reported a bag in the train and requested the staff to collect it. I am so glad that the people in Switzerland are so warm hearted. And I have to mention the authorities at station and the Swiss police who helped me a lot in that situation.
Lies again? Modern Dad Religious Father
I visited Switzerland in 1994 from China. Then China was so poor, while Switzerland is so advanced with most most beautiful people and land - I always feel that I had a trip to heaven and paradise. God bless them. I moved to Canada for long time, I always joked that I will move to Switzerland once I win lottery.
I know Swiss people who moved to Canada so i think you can be proud to be there too 🥰
China knows is to control their peoples and celebrities. Look at now, whay they did for stars in nonsense issues. Busy of killing each other how bad.
the gov will take 1/3 of your lottery money in tax
@@cubedude in Switzerland they take 10% far from 1/3
@@cubedude 10% bro
Missing two important things imo:
1) Switzerland‘s role in international resource trade
2) Switzerland‘s rather unique education system with only about 20-40% of people having a bachelor‘s degree, whereas the vast majority has a professional diploma acquired through a practical apprenticeship (even more if you count all the people who studied after their apprenticeships) -> less money wasted on degrees that won‘t be very useful, as well as low youth employment rate, as they are actually skilled in a needed trade
And you are forgetting a lot of dirty details why Switzerland has money...
Propaganda as usual.
@@mellyklint6199 lol, of what?
@@Mikhail.Tolstykh weapon trade and jewish gold from second world war, yeah we have some dark patches as well...
@@Mikhail.Tolstykh and did we make a lot of money out of nazi gold? No. Do we make a lot of money out of the weapon industry? No. Are we good in doing business and being one of the best countries to live in? Absolutely
Switzerland is an inspiration for all countries of the world, just amazing
I've visited Switzerland, not just wealthy but beautiful, the country side is stunning
thats what they want
Everyone: WE GO TO WAR!
The Swiss: We'll count the money.
Smart
there are billions of dollars rolling around swiss banks that once belonged to people who perished in the holocaust. they've turned into perpetual interest free loans for the swiss to use on whatever.
@@solomonshv Wow good for them. LOL
lol indeed
@@solomonshv wow... why don't they give that money to Israel's government?
Nazis: hide our money
Switzerland: ok
Germany (1946)- where's our money
Switzerland: what money?
more like "whats the password?"
@@jabuar4852 Germany: "I don't know"
Switzerland: "Oh well, come back when you do. We'll be here. We're not going anywhere. Your money is VERY safe with us. By the way, do you have more money to hide AWAY?"
😂
Best comments are here 😁😁😁
@@onem.3361 there`s a fued between Germany and Switzerland the German government had commanded the Switzerland government to expose the german people hiding their money in Switzerland, this made the Swiss finance minister blew his top and said " you hitler" and the Germany's finance replied "Yes we are Hitler but who consumed the money of the jews that Hitler stole and hide in your banks.
As a Swiss I am convinced that the biggest advantage of this country is its 1) direct democracy and 2) federalism 3) education system. No BS politician decisions on important matters, no left right direction changes and jumping on trends after a new president/chancellor/political party etc. took over power, and therefore the country is relatively stable, which in return attracts businesses. Tax competition among cantons helps keeping the government relatively lean and competitive. Higher education is free and open for anybody qualifying for it and the apprenticeship system is geared towards practical knowledge rather than theories.
That is interesting. I actually don't know much about the country except for chocolate and it's favoured by people for its banking. Is higher education free for citizens only? Are there educational institutions that teach in English?
@@siphokazileratomalinga2969 a semester at the ETH Zurich (Under the Top 10 Universities of the World) is around 700 Fr. more or less the same in USD.
It doesn't matter if you are Swiss or not.
I wish I can live there
Du hast vergessen zu erwähnen, dass der Staat und die Banken uns das Geld wegnehmen. Gruss
Hipocrisy works good in this country!, pseudo neutrality on wars, high market selling guns to poor countries at war, nazi gold, fake history and goodies, bad news, pedophilia, racism...and many others are hidden and accepted by swiss people!, since the Bergier rapport they have learned to "forget" and live good with that!, WAKE UP PEOPLE!!
In short Switzerland is the "The Iron Bank" of the world!!
curb your GoT
@@crls1 then gringotts bank 😂😂
😂 😂 Underrated comment
hidden theft of the world
😅👏🏻that Iron Bank is Real haha
"Work hard, spend little, save a lot" perfectly describes my father, his parents, and his grandparents. It's also what I was taught from Day One. Sad to say that many modern governments have learned how to prey on savers by printing fiat money to finance massive spending programs...like the current US administration is doing. To Switzerland's great credit, they've scrupulously avoided that road to ruin.
helping to hide nazi plunder also helps i geuss
@@sultanhusnoo8552 yeah sure getting sacked by the Nazis is a better idea
@@lohengramm7798 I geuss they had to do what was required to survive. Desperate times call for desperate measures. But the story about "Neutrality" is sure total BS. Poland was given a choice. France could have chosen "Neutrality". The Swiss just found a way to survive but it had nothing to do with "Neutrality"
bro. the SNB prints money like its nothing… if they wouldnt back it the way they do, CHF would be worthless in an instant…
the top 300 richest of switzerland have a combined forgin of over 820 Billions, however the number 1 on the list is the family of the IKEA founder with only 55 Billion. About 60% of the Rich peoples got rich by Inherit the riches. Selfmade Billionaires are rare in Switzerland.
when i look to usa Elon Mask or Jeff Besos do have way more money and they made it in less time
I don’t know how but you’ve managed to package an unbiased analysis that is more entertaining than the sensationalized segment of economic and financial news. Thank you for your efforts to be the signal and not the noise. I understand that the economy is currently in a downturn and that we must wait for things to get better
yes
Once the legend said, "trust is the most expensive thing in world, cheap people can't afford it".
bro u just made that up nobody ever said that
@@wc4572 well then I am the legend 😁😂.
Just kidding.
It's was said in the web series named "SCAM 1992"
"Harshad Mehta" said it. And he is surely a Legend. ( At least for me)
@@insanewanderer9184 wasn't he a credit card scammer?
Hahaha no brother. He was actually not a scammer but the government officials put him in front. He just used the loop holes in the government policies to earn a huge (really huge) amount of money from the share market. (Credit card scammer is very very little thing)
One very important aspect is not mentioned: The average swiss is extremely over-insured. There's insurance that covers earthquakes and natural disasters up to a certain amount. The street circulating bicycles are all insured. Most kids have dental plans. Health insurance is mandatory. All swiss bank accounts are insured up to 100k by law (protected deposits) even stocks trading accounts can fall into this law which means the institutions with brokerage options would be required to protect 100k worth of your portfolio's assets against any type of bankruptcy. There's low cost legal insurance with annually free lawyer hours that don't increase your premium....... I could go on and on....
your point about the stock account doesn't make sense at all. Since the stocks are yours, if the broker goes bankrupt nothing happens. You could just make a new account with a different broker and transfer your stock over there.
I have to say its not really a Swiss thing. I am from Germany studying in Switzerland and all those things are just normal in Europe. At least in the German speaking countries.
@@Casskario bike insurance is new to me. At least at scale. But yeah, other stuff like bank and brokerage accounts is true. What you said about brokerages is bit of a simplification tho, it’s not that straightforward and it’s a good thing you’re insured. That’s not even remotely exclusive to swiss accounts ofc
@@sksz33 well; I live in Zürich and I don’t know anyone who has a bike insurance 😅
Although of course it exists.
Since your stocks are not stored by the brokerage it is that simple …
Of course your cash money you have on your brokerage account is also included in those 100.000$ insurance.
Yeah- having insurance is good, but being over insured means that you lose money. So everything that you could pay for yourself easily shouldn’t be insured. (Like a bike)
But yeah- insurance for house, car, health etc. is m ich h more Common here than in the US
@@Casskario the bike is often included in the Hausratversicherung.
@@noahs2664 yeah, but only if it was stolen from inside your house …
as a swiss im really proud of my country
you should be. I'm on vacation here for a month and Bern is awesome. now I'm studying your economy, history and culture.
@@AndrewEvenstar im glad your happy in switzerland
I'm from a poor country in Asia called the Philippines where only the politicians and rich become richer and richer. I've been looking to your country since pandemic. I discovered your country by a conversation with cousin who also love to explore different economies in the world. You are very lucky to be in a country where politicians are not that corrupt and society emphasizing on Research and Development. Soar high! How I wish the my fellow Filipinos choose responsible leaders.
I visited it too just recently and it's amazing. Would be a dream to move there. I think there are several nations that can truly be proud of their countries and Switzerland with Norway must be on the top.
Proud of what? You didn’t contribute to its foundation nor development. You need to live more and become wiser.
one of the most important things has been forgotten. i am swiss myself and live in switzerland. switzerland has a very good social system and very good medical care. nobody has to go hungry, nobody is homeless, or has to be afraid of becoming one. everyone has prospects. this ensures stability and security. this is directly related to the prosperity of switzerland. socialism!
That is so true. But one thing that could and definitely should be improved is to help the poor. By that I don't mean those who do not want to work but those who have been born into a poor family (parents lost their jobs or got sick, so they can't go to work anymore or can't find a job). Those people really are being forgotten, sadly speaking of my own experience.
Swiss people dont help the poor in other Country
Thumbs up. Sir what you neglect to mention is all socialist systems ARE NOT THE SAME. They may use the same word (socialism) . . . but how that is managed can be very different for each and every government that calls itself " SOCIALIST." As you can plainly see SEMANTICS is a big problem in honest communication. Words can be and often are twisted to whatever is useful at the moment. Again i admire Switzerland. Who doesn't ??? But the economy also has strong capitalist elements. Capitalism and socialism are NOT mutually exclusive if your mind is open to flexible use of terms.
Socialism is a strong world but its more social than what i hear from a lot of other country’s. Definitely not perfect where i live but a attempt is more or less made when it comes to psychiatry maybe the other stuff is better
As a citizen you can only get what you pay into the entitlement system of the government. Unlike the United States if you don’t pay in you don’t receive. Example you pay $100,000 in taxes you are eligible for $100,000 in benefits if needed. Just pointing out the definition of socialism is different in other countries
These are incredibly high quality videos. I was very surprised when I saw the subscriber count.
Thank you 🙏
@@EconomicRaven me too! I have learnt so much from your videos and as a young African I’m excited by the lessons and how these can be replicated to help Africa also emerge from poverty. Thanks for your videos sir!
I think the channel is quite new, so probably that is the reason. However, I agree with you. I am pretty sure the number will multiply in no time.
yup there are not many who can pronounce Toblerone so wrongly then have a sock puppet account sing their praises so emphatically in the comments.
Definitely deserves more subscribers! I just subscribed
As a Swiss person, I can only say "spot on." Well researched.
Thank you 🙏
I heard swiss people do NOt accept practically anyone as equal, even foreigners are NOT allowed into their house? total racist? against auslendeR? total segregation cause of the HIGH salaries? HUGE STRESS FACTOR in swiss
@@adopodrinje1499 You're right, we're quite reserved. However, Switzerland has 25% foreigners doesn't indicate general racism to me.
@@PatrickBateman12420 Most of those are European and high-skilled labor, and shouldn't be any different, I believe. .
@@PatrickBateman12420 its more then 31% are immigrants: CHEAP WORKER, I dont think the swiss have imported them cuz they LOVE Albania serbia or even western immigrants from germany... I could NEVER ever live in an country where the people NEVER ever accepted u ? total segregation is now everywhere, here in holland too. total segregation. many eu countries now need even more immigrants. in countries like denmark sweden austria it will be even bigger problem... I remember Austrians telling me how swiss are totaly different people: very closed, not even open to western people... its only beautiful. but to be B-blass ur entire life there. I dont think so...
Nice work on the video. I've spent time in Switzerland over the years and it really is a unique place. It's position nestled between Germany, France, Austria and Italy makes it a major transit route for freight and people crossing between those countries too.
Such a fascinating video. I'm in Switzerland now, and I just love this country. Also learning from this lesson here made me realize more why it's so expensive, yet such a good life here.
Hello
Are you international student there ?
you can definitely find better chocolate brands in Switzerland, including Läderach. Toblerone is at the lower end of the Swiss chocolate spectrum. Then again, you can buy a Migros brand chocolate and it will beat most chocolates worldwide.
tbh migros or denner chocolate is very cheap quality , i'd never compared to other countries chocolate but i don't think it's better
@@0698Alexis Migros Frey Chocolate can be excellent, and beats most foreign chocolates except Belgian and some French chocolate. Have you had Hershey's? The stuff is abominable.
@@emanuelschmidt3477 Oh yeah Frey is very good haha ! i tought u were talking about Migros Budget and CHF0.80 type of chocolate you find in supermarket you know xD
@@0698Alexis Sorry but the Migros Budget that is only 0.80 CHF is STILL WAY BETTER than expensive chockolate brands overseas. Like if you look at the US Hershey chockolate (better quality actually if you buy that brand in Europe) or Dove for example... Tastes horrible if you ask me. It's even better than most milk chockolate of Germany, with the exception of big brands like Milka or Kinder.
I love the Coop chocolate... Läderach for special gifts and a stop by the Flughafen Coop for just giving out lots of chocolate to friends back home. And yeah, it's hard to find any chocolate in the US that's similar quality to the "normal" grocery store chocolate here. And maybe it's psychological, but even the same Lindt products made in their New Hampshire facility (bought at the US airports) doesn't quite taste the same as the local Swiss-made Lindt.
I lived and studied two years in Switzerland back in 1990. I have to say that quality of life, food, beverages and standards are way higher than any European country I visited. The country is so organized that even the Japanese can't match the accuracy the Swiss reached to. They have the most yummy cheese if you are a true cheese lover, best chocolates in the world and the best restaurants serving top quality meats prepared by the best chefs you can ever come across. I made a terrible mistake going back to the Middle East after spending two years pampered by the Swiss hospitality and human care.
Wasn't it hard to get work permission back in the 90s?
@@arielleung3917 As a student, it is granted by the college I studied at. Work permits were easy if you're a student.
@@nawafabughazaleh But it's a different situation if you want to stay there after that two years of studentship, right?
@@arielleung3917Yes you can as long as you are employed by a Swiss company,
@@nawafabughazaleh Well maybe it depends on your nationality or things have changed by now. I've met several graudates from ETH who have received job offers but failed to get a work permit. I'm under this impression that it's very hard to stay in Switzerland after graduation.
This video does an excellent job of unraveling the complexities of the Swiss economy! 🇨🇭💼 It's intriguing to see how Switzerland's unique economic model has contributed to its success. Thanks for providing such a clear and informative overview of the Swiss economy!
Thank you 🙏
Lol. I remember having a panic attack on a gondola ride (fear of heights) and clenching and unclenching my fists and STARING at the "Made in Switzerland" sign the whole 10 minute ride trying to calm myself down.
The people in Switzerland 🇨🇭 have a culture, work hard, spend little and save a lot . Good culture I will learn from them.
They are like Uncle Scrooge! Horrible
@@susanaduarteraposo One could think so. In fact, however, the Swiss donate the most per capita. Of course not for rubbish like the EU, e.g.
@@rohei1681 are you an idiot? Europeans are not rubbish. And what I wrote IS NOT AN "OPINION ". IT'S THE TRUTH ABOUT SWITZERLAND, which I live since 2011!!! Understand?
@@rohei1681 "Swiss" gold still has a swastika on it!!! Or... a David cross. Just mentioning. One doesn't get rich from day to night without stealing!!!
Just don't become a Racist!
"You Die?"
"Well, your money stays safe in Switzerland FOREVER"
Other countries: WE WILL FIGHT THIS WAR HEAD ON!
Switzerland: Chaos is a ladder.
I stand on the truth and I believe in humanity
Usa did the same as Switzerland on a different way
Fun fact: it worked 3 times...
Both World Wars were mentioned.
But actually, the most profit came from the Franco-Prussian War 1870.
A lot of dyers (early chemist) fled from war. They moved to Switzerland (mostly Basel). Switzerland had a strong clothing industry back then and jobs were available (especially if colorful military uniform are in high demands...). It lead to an accumulation of knowledge in chemistry (and eventually pharmaceuticals) which made founding chemistry companies (La Roche, Novartis, etc.) easier.
Success comes only to those who work for being successful. Thanks for proving it through this video.
I live in Switzerland. Quite an accurate assessment. Thanks!
I'm an Argentine citizen working at the Swiss Embassy in Buenos Aires and I can tell you:
1_ Very few and slow taxes
2_ Almost no money emission
3_ Open to international trading
4_ Very few obstacles to start a business
5_ Gentle labour market legislation
This is why Switzerland is so rich and Argentina is so poor
I would say that all of them right with the exception of number 4. It is a bit of a nightmare to start a business, specially if you are a foreigner.
They earn a lot from tourism
@@davidaleman7708 Yes, if you're a foreigner, or don't have money or cannot justify its legal origin. Many other also don't get the Canton's requirements. But you can always join venture or have a local partner. Try to start a business in Argentina, and you'll see how easy is Switzerland.
I forgot:
6_ Respect for private property
7_ No inflation (although it's implicitly stated in 2_ many people from Keynes' school still don't get it)
1 and 4 are both wrong. I am a tax specialist in Switzerland and have been living here for 8 years now so I can tell you that you point 1 is inaccurate.
@@justanordinaryobserver3559 Tell me how many are they and what percentage of the GDP it represents, and how many regulations you have. Let's see if they approach the Latinamerican levels.
3:38 Talking about quality bread and then shows a bread (more like toast) every Swiss citizen would dirgrace :D
Bro no that's not true. That's a good bread. It's probably home made. My grandma has one of these bread making machines. It's very good bread and it's healthy and fresh.
@@MLP4242 But its definitely not the typical bread we would get in a swiss bakery. They are usually shaped different
@@f4nb0yzzz There's also good ones at the bakery. Where are you guys from? He said it looks like toast that a swiss citizen would disgrace. and i disagree strongly. i invite you to some bread if you want to come to the canton of Wallis. :)
@@MLP4242 Was redisch du xD au wenns fein wär wür ichs us visuelle gründ ned chaufe, es büürli oder richtiges ruchbrot wod chruschte richtig biss het sowas nenn ich es richtigs brot. i am not saying your home bread isn't good, but toast bread visuals are not what a standard swiss bread looks like :)
@@MLP4242 maybe its different in wallis xD i live in thurgau
It's a very beautiful place to look at.
@sarcasmo57 Hello 👋
I agree with you, it’s a beautiful country.. have you been to Switzerland, how are you today?
@@1glenwi Yes, I visited Switzerland in 2005. I loved it. Today I'm very well thank you. I'm building a meat smoker, it's very enjoyable. How are you?
@@sarcasmo57 That sounds good to hear from you, I like traveling when I’m on holiday… in the future I wanna be able to explore as much country as I can.
I’m doing very fine today, thank you for asking and believe you had a great moment enjoying your smoked meat 😋
@@sarcasmo57 Where originally are you from?
@@1glenwi Australia, what about you?
That is the reason why I love Swiss. "Crash landing on you" Filmed here
From great Vietnam with thousands of love
Just to be clear, I lived, not only worked in CH. For some 15 years. Now I'm retired out of CH, even receiving my part of pension from CH. Great coutry, hard working and honest people, sometimes a bit closed and nationalistic but that's the way small nations can be novadays. Even people in my country are behaving in the similar way. Maybe reflex for the self-preservation. I admit, I like your clips, fine work!
Well it would be proof that being "a little bit nationalistic" works very well, isnt it?
@@epstone Which country?
@@koushikdas1992 well, Switzerland obviously, as the original post mentions.
@Ararune nationalism is nothing wrong with I believe . Unless I am missing something , I believe nationalism means you love your country and what is wrong with that. I agree
A great country but a little bit closed and a little bit nationalistic.... Hmmm that's not how friendly people behave. The Swiss are super friendly while they are stabbing you in the back... Doesn't seem like you are getting too many likes with this point of view.
A part that was left out was the heavy industrialization that took place in the 19th century. And trains!! Switzerland had always been a nightmare for transportation, but that changed when the Swiss set out to build (what still is) the world’s most dense train network, which included monumental bridges and the world’s longest train tunnels. To finance these gigantic projects, they needed large banks and to build them, they needed lots of engineers. The latter were largely provided by the 1855-founded Swiss Federal Institute of Technology, ETH, which to this day is ranked best university of continental Europe. And the banks, well you heard about those.
No, it isn't ranked first! Number four in Europe and eleventh in the world!
@@TheRongyit's ranked best of "continental Europe" (i.e. not including British universities).
@@fs3859 I know what you meant, but i don't like the cherry picking! Britain is Europe, regardless of being an island!
@@TheRongy I see your point. Still I believe the "cherry picking" is justified in so far as the Angloamerican university system is quite different from the (continental) European one. E.g. tuition for the top US/British universities is easily 10x higher than for its continental peers. Among the latter, ETH consistenly ranks best.
Social mobility is a major driver in establishing the Swiss as belonging to the happiest nations on earth. I returned to my beloved home country in 2019 after a 25 year stint in America where I went broke on overpriced rent. I had to start from scratch, at the very bottom doing unskilled labor and work my way up. After 3 years of dedicated studies and bone grinding work I was able to land my first dream job as a software developer. I have made many friends along the way and even those working 60% at Swiss Post (where the salaries are at a base level) can afford the necessities of life which include vacation trips to sandy beaches (6 weeks total paid vacation), a nice car or two and modest cash savings.
Why did you mover over here for 25yrs?
Beautiful landscapes and interesting architecture 👍
"The script was simple..." i loved it!
Thank you 🙏
It is completely juvenile
You kept me engaged throughout. The subject was simple, illustrative and logical but the way it was put was fantabulous.
Thank you 🙏
@@EconomicRaven you are fantabulous got a subscriber 👍😊
Thanks for sharing, Switzerland the most beautyful voubtry ,has always the best quality.
I always wonder about this question . Thank you for making a video on this topic.
Thank you for watching 🙏
Banking secrecy in Switzerland ended in January 2017. Any non-Swiss government that wants Swiss bank details of one of it's citizens will get it.
Yeah and Americans need to do more research to learn that the rules changed, especially the Hollywood bozos that are still using cliches in their films about Swiss banks.
@Weedling 2 City of London owns Cayman Islands. CIA owns Dubai.
@Weedling 2 dont forget the germans through their deutsche bank
Whatever, bank secrecy is only ok if 2 countries exchange the said details, for instance most africain countries doesn't and they won't get any details.
@@rajadhirajmaharaj dude does cia really own dub ai
Swiss does not grow cocoa but make the most gain from Cocoa.
Yup they talk about swiss chocolate, when the actual cocoa beans are from Ghana. Yawn😴
We know they literally ripped off from Africa
They're sucking from other countries...all drug money and stolen wealth from Africa and around the world stached in Switzerland 🇨🇭!
@@nate_reatcz When you think of it that's basically true. As we speak western powers are the main culprits for the war in the DRC/Congo because they are there mining the rear Earth materials for computer chips and other components.
Just another European country still harvesting the gains from colonialism (even if they weren’t part of it). Benefitting off of the broken world that they created and paying no repercussions for it.
Enjoyed this video very much thank you. Beautiful images a good enjoyable voice great stuff and very interesting.
Thank you for sharing. It's Soo lovely 🌹🤩.
One of the reasons that Switzerland is a great business hub, and has been for centuries, IS its central location in the richest part of Europe, and its access to lots of rivers to conduct trade.
Low taxes as well. I mean we all know why Singapour got so rich.
It's not the richest part of Europe, quite the opposite. Sure the landscapes are beautiful, but you can't eat landscapes, and it has no natural resources or sea access and 80% is too mountainous for agriculture.
But this is why it's so successful. It had to adapt and leverage what it had effectively, which was originally just control of mountain passes.
That exactly why they are what they are.
Giving good insight into Swiss economic development and the rigidity with which the country is run by all concerned the government and the citizens in a harmonious and cooperative way. This is the ultimate secret of the country's economic success.
Have visited in 2017, this my true experience on them.
I'd say not losing half your male population during WW2 is another factor. Oh and the fact they didn't have to bomb down their own bridges and infrastructure (like we Greeks did) to halt the Nazi War Machine. France got decimated by WW2, being in the heart of combat. England got carpet-bombed to smithereens. Greece, my own country, fought the Axis-aligned Italians for 6 months, pushed them back over our borders with Albania, then fought the Germans for another 3 months before finally losing and having Athens occupied. Half the population of Athens died due to disease and famine during the German occupation. The National Bank of Greece got looted out of all its gold, cause the Nazis needed funds. Guess where that gold went. That's right, Swiss Banks.
So...no. I'd say their decision to remain "neutral" during WW2 and simply be arms dealers helped the Swiss economy A LOT. More than what is stated in this video. You have to think of not only what Switzerland GAINED from their neutrality, but also what other countries LOST due to their non-neutrality.
I had the pleasure of visiting Lugano, Switzerland and flying over the Swiss Alps.
Thank you for the video, It's actually educative
Switzerland is the 'Bravos' in Game of Thrones
Braavos*
It's the other way around
I D nuke that country... with no remorse..
True
@@Bojan8309 no pls I want to live
So are we just not going to talk about how this boat casually slammed the hand break and went sideways 3:15
It has two motors/two propellers, and each propeller can be steered in any direction, 360 degrees, individually.
you need a very high-quality hand break and a precision driver. But how it's done is a secret.
come on..lets talk
It is doing that all the time. They change direction and drive back. Its a sightseeing boat
it was a long way scrolling down to find a coment about this topic... :)
That was a really good video! Thank you
02:34 It's wrong and borderline offensive to say that about Switzerland. As a Swiss I can tell you that the fear of being invaded was real. We didn't want to lose our country, our pride or our identity. So what were we supposed to do other than finding a way to keep the potential invader in check once we were fully surrounded? Well you had to work with them, whether you liked it or not.
So please never say it was an economical decision because for my grandparents and my grand grandparents, the EXISTENCIAL THREAT was REAL. We just did what we had to to SURVIVE.
Yeah complying was better than being massacred. Switzerland had no realistic possibility of defending against Nazi Germany. "Nazi collaboration" in many cases had a lot more to do with survival than with following Nazism.
You mean the very same pride that is represented by your Nati?
@@TheRongy I'm not into football, I'm afraid, so I couldn't care less.
oh come on, it was an economical decision - the nazi money and gold is STILL in your banks! why was it not returned to germany, ha?
Swiss banks no longer have secrecy.
"That was often the reality until exactly one year ago, when, on 5th October 2018, the Swiss tax agency, the Federal Tax Administration (FTA) officially started exchanging bank account data with tax authorities in other countries for the first time. This marked the end of Swiss banking secretly."
@Music You know who not only has a hand in most of these scandals, but is often the initiator? That‘s right, the mighty „moral police“ called USA.
I can attest to that because of my multiple visits to the country. I've never experienced such peaceful and friendly people like the Swiss.
That cause no one will rob u no is look for u they busy hiding...lol
That is nt possible, switzerland has a lot of guns, and guns are evile.
That’s because you came as a tourist. Try to work here and you’ll get mobbed and less paid as a Swiss and never recognised for your work. Ah…and they’re already refusing people who live here but dont have mother tongue German….meaning they’re discriminating foreigners who have good levels of the Language and refusing them jobs….great Country
@@caturix4541 Yeah we have a lot of guns. because after military we can take it at home if we want, but without ammunition and here in switzerland there are happening murders because of shooting less than 5 times a year. That's also because we are living in a good educated country.
@@SPFX_BEATZ i know i am a pro gun swiss guy ^^
Also, yes we dont get ammo from the army any more but anyone who has the rigth to own a gun can buy as much amonas he wants.... Soo...
It's a heaven on earth Place! Wow how I long to visit it even for a Day!
A great video! Thanks for sharing!
Thank you 🙏
The backbone of all of this is a highly educated and intelligent population.
@Ararune iq doesn't have nothing to do with education or intelligence
@@ArmandoD10S well, it means intelligence quotient. The whole point of IQ is to be a number to compare intelligence. It does not equal intelligence tho.
@@ArmandoD10S and iQ has a lot to do with Education, thats why its not perfect for measuring intelligence.
No, it's a corrupt banking system, which was set up by some high IQ individuals, who put logic ahead of morals (can't blame them). Banking for wealthy criminals.
Loads of countries are loaded with high IQ or hard working individuals, yet don't have swiss wealth per capita (eg. Germany).
@Ararune so if Switzerland is not in the top ten of high iq, why it's the only country on hearth to provide direct democracy to his citizens? Why Swiss people have literally the key of the power? They vote for every single law of the country.
Do the high iq country have that system? No.
If you have a dumb and uneducated people you can't let them have direct democracy.
One of the countries I am very interested in learning from and visiting. I am absolutely fascinated by them.
Do you have a lot of money in your matrasses
Go to country side and learn to cook yourself....you can visit
I don’t like to life here. Would prefer to life somewhere on a beach 🥲
Glad you like Switzerland if you ever get to Visit us you should visit the Matterhorn, Bern(The Capital of Switzerland), Zermatt and talk to a lot of people there’s like 100 different accents you’ll enjoy it and get a good laugh! 😂
@@like_hamburger1770 Teeeeechnically Bern is not the capital
VERY NICE AND INFORMATIVE VIDEO!!!
There is a form of natural resources in Switzerland: water from the many glaciers and melting Alpine snow, allowing the production of electricity via hundreds of water dams, large and small, within mountain valleys or along rivers. A substantial portion of electrical power is produced this way.
"Work Hard, Spend Little & Save A Lot/ This should be the motto of all human kind for prosperous life.
I prefer work smart (not hard) and spend little.
This is what India is doing. And they go a step ahead. The next generation is lucky.
@@edwardspencer9397 India has still a long way to go. Still to many people who are poor and uneducated.
@@AlexanderWeixelbaumerI agree. But those who are rich and educated in India are 100 times Switzerland's population. Switzerland is just a tiny country so they really have no impact on the world in general. Just like the Scandinavian countries.
@@edwardspencer9397 How do you define the "impact on the world in general". North Korea threatens the world for decades now with their nuclear weapons even though the country is poor. The Vatican had a really high impact on the world and the country is the smallest. And Switzerland has provided neutral ground for some peace treaties so you cannot really say we did nothing.
I am Swiss and I can confirm that this video is accurate. Well done Economic Raven.
thank you 🙏
If I could choose id be a Swiss citizen instead of an American citizen. I lived in Geneva, Lausanne, Neuchatel, and Martigny for a few years. The culture matches my personality exactly. Hope to buy a second home there soon.
There must be trade offs. "Where there is light, there is shadow", what are the true disadvantages of living in Switzerland?
@@Checkmate025
Well, i'd say that swiss people are a bit nitpicky. Quality, hard work and ponctuality is expected in most jobs. You have to follow a lot of regulations that are in place to protect our way of life, that is layed out for high standards of safety on every level like safe travel, sanitary infrastructures, environment, healthcare, safe workplaces etc.
But at the end, it's all worthwhile.
Healthcare ensurance is mandatory for all citiziens. But they are free to pick the company they want to adjust the expences by chosing between different ensurance products.
Some people will complain that our social structures invite lazy people to exploit the system. But that is just a tiny minority. I believe that most of us understand how good we are doing by doing what we do and the way we do it. So, most of us happely conform to the required mentality that supports our great economy and our way of life..
Hope this satisfies your question and i wish u a great day. :)
Not sure about the whole light/shadow belief, but there are.
Swiss people are quite conservative and any new idea takes decade to be even considered. Women finally gained the right to vote in 1990 in the "state" of Appenzell.
Also, the church is not well separated from the state, we teach religion at school and everyone has to pay taxes for the Christian church.
Then there is the climate, 8 months of cold weather.
Finally, the people. Swiss people are notoriously difficult to make friends with. Not as bad as the Finnish probably, but quite bad compared to most countries.
You could also mention Swiss-German, compared to which German is like silk in your ears...
In fact, I believe many people have a love/hate relation with Switzerland, but money and security makes them stay.
I moved here a few years ago and I can 100% confirm that most products I purchase here are going to be good quality if they are swiss made. (Obviously I met some exceptions, but rarely). Some of these are also protected by law. For example, we dont have many fast food places, but the ones we do have MUST use actual meat and actual potatoes for their burgers and french fries, if they do not, they can be penalized. So no fake paste based chicken nuggets here :D
@Sas (Shuuli) Hi 👋
It sounds convincing, how’s life there in Swiss???
Yes its true Swiss citizens like my brother in law works hard, spend little and save much! Its their tradition...should learned by us Filipinos...
Our previews goverments are only want are making WAR so the country has no peaceful on it. Instead of making good and provide works for Pilipinos.
ask an Indian about swiss. and in all possibility he will know the Swiss bank rather than Swiss chocolates. thanks to the politicians
Yes Indian politicians have estimated black money of more than 500 billions
No most of them know Switzerland because nearly all bollywood closing scenes are filmed in the Alps
You are wright
@@athulcrypto4141 you don't need to mock someone for his or her bad English not everyone has adequate opportunities or resources
Fact 🤣😅
The fact that you placed a video of pressing the like, subscribe and notification button without saying a word made me love this video 😅😅
I live in switzerland,and a big part of the people live in poverty because of the very high costs of everything.
Only about 15% are really well off.
@@mellyklint6199 and they get robbed...
An average of 100 burglaries per day
36,419 burglaries and sneak-ins registered throughout Switzerland.
For example, in 2021, the number of residential burglaries in Bavaria nearly halved (-44.5 percent to 2,322 cases).
This channel will blow up, I can tell by the quality of your videos.
thank you 🙏
Very interesting and informative on this subject of Switzerland's economy.
SWISS people have the CULTURE of ¹WORK HARD, ²SPEND A LITTLE and ³SAVE A LOT.
It's like honey to my ears. 🇨🇭🍯👂
Lowest home owner ship in europe... more like rich get richer and normal ppl spend all for rent and food
very good and fantastic approach
I'm Swiss, this is a great video!
I still manage to be poor as hell though.
But you probably still are able to pay your bills, stay healthy, have a warm bed, clean water and don't have to worry about going to see a doctor without bankrupting yourself, or am i wrong?
Wtf dude.
What job do you have?
@@Aurirang yes you can never be without a home, food clothing or anything you need cause the state provides that for you...
Just because the banks, insurances or some big companys and billionaires are very rich and living in this country doesn’t mean, that everybody in Switzerland is rich too.
Many people are living very broke like in other countrys, just be broke on a higher level doesn’t mean you are rich.
And as more influence the left partys in politics becoming, as more people will be poor and broke like everywhere in the world too.
Communism is not working out very well, even in Switzerland.
The TH-cam algorithm must be made by Swiss because this is right on the money! Liked and subscribed mate!
I love Switzerland. I lived there for 4 years.
Wow , thank you it was great😍
We r proud of switzerland , there system is so good , that everyone can afford everything n not like other countries people r dying for food , i am proud that i am in swizerland .Love u swiss
there are still a'lot of people that can't afford food here in switzerland. So that " everyone can afford everything" ? this aint it dude
@@OscarVidal4057 no one dies of starvation here
I wouldn't say that Switzerland didn't partake in WW2 because of economic reasons. Switzerland as a country has been neutral since the Vienna Congress in 1815, so its decision to not engage in warfare was definitely not an economic one, but more part of its history and national identity.
Additionally, Switzerland was already amongst the richer countries in Europe before WW1, just look at Europan GDPs per capita in e.g. 1914, and you'll see Switzerland already ranking amongst the highest.
Lastly, the banking secret was abolished a few years ago, so everything mentioned with regards to that is outdated
Otherwise great video, but it seems like it has a lot of 'Americanised' views on Switzerland, which do not necessarily represent the truth (however I'm not denying that Switzerland's history is also somewhat shady sometimes).
I'd like to add and correct something. First, another reason and a major reason why Switzerland didn't go into, is because it would lead to a civil war between the french speaking, who wanted to fight with France against germany and the swiss german part who wanted to fight with Germany against France.
Now I'd like to correct something. The banking secret still exists, but not for strangers. It was removed for strangers due to international pressure to remove it. But even if the swiss people has the banking secret, if the police has serious suspicions and proofs that someone's doing something not legal with his money, they can check the bank account.
I agree, and technically we fought in ww2, but just defending ourselves frome the nazi, they attacked us (while we were keeping their gold?), and we employed guerrilla warfare using the alps and the numerous bunkers we have in them
@@nicogenovese7108 No, we just destroyed some planes that were flying above us. Thanks The general Guisan there was no invasion
@@skales519 yes, we destroyed all planes in our airspace, both allied and acis, but that is exactly the reason why the nazis tried to invade us, we defended ourselves the way I mentioned, and they renounced..
We didn't fight them thanks the defensive strategie of general Guisan, that was supposed to use the Alps, the bunkers and the hidden weapons, but the most important, they put bombs on every bridges and tunnels to slow down the ennemy. They showed that way to the Axis that invading Switzerland would be a lost of time, of troops and of money. But this strategy would last only a couple of months in case of an attack because of the need of food.
Well research data...very good.
When I grew up in Switzerland, I was not aware that we had something similar to the Dow Jones Index. It was always the talk of the “Bruttosozialprodukt”. A part of it, is the calculation of how much is exported compared to imported. If the value of the goods are higher on the export side, more money flows into the country. Switzerland was addicted to make sure that number was higher. The US on the other hand imports more and drains their wealth, while focusing on the value of a few big companies.
I'm Swiss and I'll tell you another secret that makes us better than other nations, in politics we are fierce, but when the people (whom we call 'the sovereign people') decide something, there is no longer left or right, we are all united and we work to achieve the goals. That's why we have a nation with four languages and despite being so different we are so united, we also love to make (lot of) fun of each other. Our military system (which we have “recently” voted to be compulsory for all men of 18 years of age) unites languages, increases multiculturalism and allows young men to become men and to make them responsible, to make them understand the importance of unity and work. There are also some negative aspects, such as the somewhat omnipresent male chauvinism and the wage disparity between men and women, which we are slowly overcoming. At school I learned four languages, Italian (one of the official languages in Switzerland and my mother language), German, French and English (not official). Without too many problems. Everyone has the same opportunities and even the poorest can become a doctor, lawyer, scientist and so on. We are not perfect, but we aim for perfection, without compromise. In Switzerland you either live like this or you live off the backs of those who work, but you live badly, because you know that with a little healthy commitment you can guarantee yourself a good future.
Why do you need to go to the military to get taught responsibility though(as an 18 year old guy)
@@aunox5657 i entered swiss military at 19, i was a second lieutenant at 20 and was responsible for 30 young men. This experience will make you a grown ass man and will help you in much ways in civil life.
Nah man you don't have to go to military to become a man. Tell me your definition of a man. What doesn't it mean for you when you think about that word.
@@lucascostantini5412 You can grow up without being forced to go to the military
@@aunox5657 because 18 year Olds are still biologically immature and thrusting them into adulthood without that little bit of support is rash
I've subbed and shared this channel, you've got a lot of potential here. Keep up the fantastic work!!
Thank you 🙏
so bloody true
Great video, very helpful
Subed as the best Researched and Well Represented Info!
I'm from swizerland and i'm swiss and there are a LOT of other things that make us rich, if you only would know. Swizerland changed a lot over the years, i'm 33 years old.
Stuff like weapons ? Your economy is a disgrace !
@@blaiseragon8142 switzerland doesnt export a lot of weapons anymore. most weapons nowadays are russian, chinese and american
I didnt just subscribe. I hit the bell button too. Great potential for this channel. I subbed at 4.36k! I'll see you at 100k!
thank you 🙏
Oh this video is brilliant as a Swiss person myself i can confirm that this is a valid video
It's wrong to say that Switzerland only got rich after WW2. GDP per head in Switzerland was already one of the highest in the world in the early 20th century.
That's high quality content, covering almost everything. Subscribed!
Thank you 🙏
The Swiss economy is based on the principle of work hard, spend little and save a lot. I do all of those 3 things in South Africa ... unfortunately conditions outside my control do not allow me to earn a fair exchange of my services.
They're talking about a nation's economy... not a personal one. How is your *country* doing?
Unfortunately this will not really work in most 3rd world countries as there is no career path that takes you to financial success. It works for the Swiss because this is a cultural thing, and corruption there is not an issue. Something which cannot be said about South Africa.
YOU SAY "WORK HARD, SPEND LITTLE &SAVE,"
OTHERS IN THAT SAME PART OF THE WORLD
WOULD SAY, "WORK HARD, PAID LITTLE ( to nothing.),
&NOTHING TO SAVE", Have a good day,,,.
The trust is missing...
Spot on ❤
It all starts in Switzerland & ends somewhere else. The biggest game players on earth. So much more to this place than we realise.
How does Switzerland stay so wealthy? Minding their own damn business.
Ironically, they do anything but that. They have their hand on everything.
the pope has swiss guards, think about that
So you think naivety is a virtue. First they are armed to their teeth, the bridges that led to Switzerland had explosives until not so long ago and they protect their own like every single rich country.
But most importantly, they keep your extremely dirty money for a fee and won't ask questions.
@@criztu The Pope also has a Swiss Miss.
@@robertforrester578 And maybe Swiss boys?
So weird and fun to see this videos with its scenes from the inner city of Zurich where I live ^^
Nice video btw!
Thank you 🙏
i love how the boat drifted at 3:16😂
Honesty is the product of accuracy and completeness. - Trust is the product of honesty.
All that you said is true. Trust is the key for business and work hard, spend less and save more..