Cost of Living

The cost of living in Switzerland is very high. A study by UBS bank published in September 2015 found that Zurich and Geneva top the list of the world’s most costly cities, ahead of New York.

It costs a Zurich family of three more than $3,600 (CHF3,569 in February 2016) a month to live, based on a basket of 122 goods and services that doesn’t include rent, the report shows. Geneva comes in second at $3,500 per month, followed by New York with $3,340. Rent for a two-bedroom unfurnished apartment averages around 2,400 CHF a month in Zurich. You can get detailed information on the costs of living in your area here.

Despite those expenses, the highest salaries in the world mean the inhabitants of Zurich and Geneva rank second and third to the residents of Luxembourg in terms of enjoying the greatest purchasing power, UBS said. The average Zurich resident makes above $41 per hour, 21 times more than a person working in Kiev, Ukraine. On average, total household expenditure in Switzerland is around 50% higher than the European Union average, according to 2014 Eurostat figures.

You can gain an overview of the costs you are likely to incur by drawing up a personal budget. The list below can be used as a guide. Your actual living costs will depend on your living situation, the costs of health insurance and your personal lifestyle.