this post was submitted on 04 Oct 2024
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That article brushes over many things, like some of the big contributors to the economy being straight up amoral organisations that will do anything for money.
Nestlé, facing constant boycotts for things like the formula scandals, their damage to the rainforests, and so much more.
Big pharma running what you could call price rackets.
Banking sector which will happily take money from arms dealers and the like and turn a blind eye to that.
That all gets you a very profitable economy, sure, but not all is rosy.
Then you go to Geneva and somehow, despite all that sweet tax money, you still have buses from the 1980s and public buildings that haven't seen a renovation in the last 60 years. The airport terminal is straight up run down if you compare it to European airports like Heathrow, Barajas, Schiphol...
Then people struggle with the cost of housing - median salary is around 6k CHF (monthly), with 2k of deductions that give you a 4k net. According to rentola.ch, the rental for a 1-bedroom flat in Geneva costs on average 3.2k CHF a month, meaning you need about 3x the median salary (!!) to be able to afford a 1-bedroom flat within the recommended 30% of your salary. Working hours are longer than the neighboring countries.
So yeah, they have a great economy because the numbers are skewed by many-million-francs salaries of the corporations in there. If you're not in a C-suite or visiting as a Sheikh wanting to spend a few millions in Geneva, quality of life is absolutely nothing to write home about.