Editing Economy of Switzerland (section)

==Income and wealth distribution==
{{further|Demographics of Switzerland|Poverty in Switzerland}}

In 2013 the mean <!--NOT median!--> household income in Switzerland was [[Swiss franc|CHF]] 120,624 (c. USD 134,000 nominal, US$101,000 PPP), the mean household income after social security, taxes and mandatory health insurance was CHF 85,560 (c. USD 95,000 nominal, US$72,000 PPP).<ref>[http://www.bfs.admin.ch/bfs/portal/de/index/themen/20/02/blank/key/einkommen0/niveau.html Haushaltseinkommen und -ausgaben 2013] {{Webarchive|url=https://web.archive.org/web/20160919231855/http://www.bfs.admin.ch/bfs/portal/de/index/themen/20/02/blank/key/einkommen0/niveau.html |date=2016-09-19 }} [[Federal Statistical Office (Switzerland)]]; 
exchange rate 0.90 in December 2013 ([http://www.xe.com/currencycharts/?from=USD&to=CHF&view=10Y xe.com]), 
PPP factor 1.322 as of 2013 (down from 1.851 in 2000) according to [https://data.oecd.org/conversion/purchasing-power-parities-ppp.htm oecd.org]</ref>
The OECD lists Swiss household gross adjusted disposable income per capita US$32,594 PPP for 2011.<ref>
[http://www.oecd-ilibrary.org/economics/national-accounts-at-a-glance-2014/household-gross-adjusted-disposable-income-per-capita_na_glance-2014-table47-en National Accounts at a Glance 2014], OECD Publishing (2014), p. 66.</ref>

As of 2016, Switzerland had the highest average wealth per adult, at [[USD|$]]561,900.<ref>{{Cite book |url=http://publications.credit-suisse.com/tasks/render/file/index.cfm?fileid=AD783798-ED07-E8C2-4405996B5B02A32E |title=Global Wealth Report 2016 |publisher=Credit Suisse |year=2016 |access-date=2017-07-22 |archive-url=https://web.archive.org/web/20170515124834/http://publications.credit-suisse.com/tasks/render/file/index.cfm?fileid=AD783798-ED07-E8C2-4405996B5B02A32E |archive-date=2017-05-15 |url-status=dead }}</ref> The top 1% richest persons own 35% of all the wealth (2015).<ref>{{Cite web|url=https://lenews.ch/2016/02/01/inequality-in-switzerland/|title = Inequality in Switzerland|date = February 2016}}</ref>

The "net wealth" of Switzerland was $5.4 trillion as measured by the [[net worth]] of its richest citizens. Among this group are 740 super-rich people with assets of at least $100 million. Switzerland has 580,000 millionaires in total which is 60,000 more than Germany with a population which is approximately 10 times larger.<ref name="SWI swissinfo.ch 2023 e742">{{cite web | title=Switzerland clings on as world's top offshore wealth centre | website=SWI swissinfo.ch | date=2023-06-27 | url=https://www.swissinfo.ch/eng/business/switzerland-clings-on-as-world-s-top-offshore-wealth-centre/48621870 | access-date=2023-06-29}}</ref>

[[File:Swiss Franc.webp|thumb|right|300px|[[United States dollar|US Dollar]] / [[Swiss franc|Swiss Franc]] exchange rate]]
This development was tied to the exchange rate between the [[US Dollar]] and the [[Swiss franc]], which caused capital in Swiss francs to more than double its value in dollar terms during the 2000s and especially during the [[2008 financial crisis]], without any direct increase in value in terms of domestic [[purchasing power]].<ref>"Swiss fortunes in 2011 have more than doubled since 2000 in dollar terms" [https://www.theguardian.com/business/2011/oct/19/currency-appreciation-makes-swiss-wealthiest Franc's rise puts Swiss top of rich list], Simon Bowers, ''[[The Guardian]]'', 19 October 2011. CHF 500,000 in late 2007 corresponded to USD 403,000 (USD 252,000 PPP), in late 2011 to USD 540,000 (USD 380,000 PPP) and in 2015 to USD 510,000 (USD 400,000 PPP).
Exchange rates: [http://www.xe.com/currencycharts/?from=USD&to=CHF&view=10Y xe.com], PPP conversion:
1.601 (2007), 1.433 (2011), 1.275 (2015) [https://data.oecd.org/conversion/purchasing-power-parities-ppp.htm oecd.org].
<!--goes to show that these "PPP" calculations are pretty worthless, as long as the US economy is unstable it just traces the situation in the US and not that in the country under discussion--></ref>

The high average wealth is determined by the few who are extremely wealthy; the [[median]] (50th percentile) wealth of a Swiss adult is five times lower than the average, at US$100,900 (US$70,000 PPP as of 2011).<ref>''[[Tages Anzeiger]]'', [http://www.tagesanzeiger.ch/wirtschaft/konjunktur/Das-reichste-Land-der-Welt/story/18522432 Das reichste Land der Welt] (20 October 2011) reports 3,820 individuals with a wealth of USD 50 million or more, out of a total population of just above 8 million.</ref>

[[Federal Statistical Office (Switzerland)|The Statistical Office]] defines the majority of the population as “neither rich nor poor and the average Swiss earns just enough to afford the high [[cost of living]] in Switzerland”.<ref>{{Cite web|url=https://www.swissinfo.ch/eng/fact-check_are-most-swiss-residents-rich-/45113786|title=Are most Swiss residents rich?|website=SWI swissinfo.ch|date=29 July 2019 }}</ref> According to some Swiss statistics "28% [of Swiss families] have nothing left to save at the end of the month".<ref>{{cite web | url=https://www.swissinfo.ch/eng/cost-of-living-squeeze-puts-swiss-households-at-poverty-risk/48589348 | title=Cost-of-living squeeze puts Swiss households at poverty risk | date=15 June 2023 }}</ref>

As of 2022, one in seven Swiss pensioners was living in poverty. Some 46,000 Swiss pensioners have already fallen into poverty and a further 295,000 are in danger of joining them. The official poverty line is drawn at CHF2,279 ($2,300) per month to pay for rent, health insurance, clothes and food.<ref>{{cite web | url=https://www.swissinfo.ch/eng/one-in-seven-swiss-pensioners-lives-in-poverty--study/47947498 | title=One in seven Swiss pensioners lives in poverty, study says | date=2 October 2022 }}</ref>

About 8.2% of the population live below [[Poverty in Switzerland|the national poverty line]], defined in Switzerland as earning less than CHF3,990 per month for a household of two adults and two children, and a further 15% are at risk of poverty.<ref>{{cite web |url=http://www.swissinfo.ch/eng/fact-check_are-most-swiss-residents-rich-/45113786 |title=Are most Swiss residents rich? - SWI swissinfo.ch |website=www.swissinfo.ch |access-date=3 October 2022 |archive-url=https://web.archive.org/web/20200220003122/http://www.swissinfo.ch/eng/fact-check_are-most-swiss-residents-rich-/45113786 |archive-date=20 February 2020 |url-status=dead}}</ref>