Bank Cler has revealed which Swiss canton has the wealthiest households, thanks to a study the bank commissioned. Canton Zug comes out on top, with Valais and Ticino placing at the bottom end of the scale.
The study gathered data from people’s salaries in Switzerland in order to rank the cantons based on median household income once taxes and business expenses are deducted. Somewhat unsurprisingly, Canton Zug was named the wealthiest Swiss canton with a household median net salary of 68.400 Swiss francs a year - much more than the Swiss national median of 53.600 francs. Zug was followed by Basel-Land, where the median annual income is 59.900 Swiss francs.
Other cantons that ranked amongst the wealthiest included Canton Zurich, Schwyz, Aargau and Nidwalden - home to the lowest business taxes in Switzerland. The study also found that one household in 10 in Zug has a net household income of over 200.000 Swiss francs.
This is in stark contrast to the least affluent Swiss cantons. The least wealthy canton, Valais, has a net median household income of just 42.400 Swiss francs a year, with the second poorest canton, Ticino, just ahead with 44.600 Swiss francs a year.
Cler explained that many of the less wealthy cantons are dominated by industries that are built around lower-paid jobs, while the wealthier regions have large tech, finance and pharmaceutical industries that help residents earn more. Valais and Ticino, for example, have many people working in hospitality, meaning median incomes are considerably lower compared to other less-tourist-centric regions.
These are the 10 wealthiest Swiss cantons, according to net household salaries after tax (in francs per year):
For the full results of the study, see the Swiss Income Monitor by Bank Cler.
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