Is the quality of life and cost of living better in Switzerland than in the UK?
Over Christmas, I spent some time in Switzerland, socialising with various Swiss residents, both relatives and people I met on my trip . It is possible that I was so relaxed that I had rose-tinted glasses on, but my impression of those few days was the the quality of life in Switzerland seemed better than in the UK at the moment. Even the news seemed more positive around the cost of living as I did not hear as many stories around how to manage your finances as you do in the UK. Everything was a lot more expensive in Switzerland from basic items to going out, yet shops were buzzing and people kept going out.
The Swiss I met were also saying how strong their spending power was compared to Europeans and British. The latter is true as the Swiss Franc is very strong, but when I got back to the UK, I spoke to Swiss who actually said the cost of living is very high in Switzerland for many. Not everyone can afford the high prices as salaries are not high for all, and healthcare costs are really high. Therefore, was I in holiday mode and only seeing the positives? So I decided to look into this further.
Housing Costs
Having had such a nice time back in Switzerland, I started to reconsider a move back to the home country. Unsurprisingly, Switzerland has a high cost of housing, especially in major cities like Zurich, Geneva, and Basel. On the other hand, the UK also has very expensive cities, such as London, where housing costs can be exorbitant. However, in other parts of the UK, such as Wales, Northern Ireland, and certain areas in the North of England, housing tends to be more affordable. I found that even rental in the smaller cities was somewhat higher than the UK.
Therefore, the UK's average housing costs are generally lower than those in Switzerland, making it the winner in this category.
Healthcare Expenses
Having experienced both, directly or indirectly, the UK and Switzerland offer high-quality healthcare systems.
In the UK, healthcare is provided through the National Health Service (NHS), which is funded by taxation and is generally free. This means that seeing a doctor, also called a General Practitioner (GP) is free in the UK. You are only required to pay for the medication prescribed unless you have a special exemption, such as pregnancy or low income. Any referrals to specialists through your GP can also be on the NHS, and therefore free. The only downside is sometimes the waiting lists can be very long, especially for non-urgent matters. Private healthcare is an option if you would like to speed up the process, but it is not compulsory to take out any healthcare insurance in the UK.
In Switzerland, healthcare is provided through private insurance companies, and individuals are required to purchase health insurance. Having discussed with a couple of individuals this year, the costs can be quite high. This makes healthcare costs in Switzerland considerably higher on average than in the UK.
Education
I am also considering schools for my son if we do move to Switzerland. Whilst both the UK and Switzerland offer free schooling, from my initial research, private schools can be very expensive in both countries, depending on the choice of school.
As for higher education, Swiss universities can be expensive with tuition fees ranging from CHF 1,000 to CHF 3,000 per semester for a Bachelor's degree, and a Master's can go up to CHF 13,000 in some universities. Whilst the UK offers a range of universities with various tuition fees, and there are also scholarships and financial aid options available, the cost can also be high with tuition fees up to £9,250 per year.
My conclusion is that primary and secondary education can be very accessible in both countries, but higher education is costly though financial support is available for both.
Transportation
Transportation costs in Switzerland are generally higher than in the UK, though the system is exceptionally efficient and reliable. In contrast, in the UK, depending on your location, you may find that commuting costs are lower compared to Switzerland.
Food and Dining
Eating out in Switzerland and purchasing groceries seems a lot more costly. Even fast food is not that cheap and day-to-day items can be a third more, or sometimes double in Switzerland. |n the UK, you will find very high-end restaurant and shops with the equivalent price tag, but you can also find low budget options more easily too.
Salaries
Overall, Switzerland is more expensive, but if salaries are proportionate or very high, we might conclude that the cost of living is affordable and the quality of life high.
With a strong economy, Switzerland offers competitive salaries across various industries and professions, However, the high cost of living in Switzerland can still pose challenges, especially for newcomers or those with lower-skilled jobs. Housing costs, in particular, can be a significant portion of one's expenses, especially in major cities like Zurich and Geneva. Additionally, healthcare and the cost of everyday goods and services tend to be higher. On the upside there is strong social safety net if you do find yourself in financial difficulty or losing your job.
Salaries in the UK can be very high in certain industries and professions, but overall they don't tend to be as high for the average profession as in Switzerland and lower-skilled workers are not as well paid generally as in Switzerland. Moreover, there is not such a strong social safety net to fall back on, so if you are unemployed and eligible, you get little support (up to £84.80/week) and for a very limited amount of time (6 months max).
Conclusion
So was I able to answer the question I posed myself on the cost of living and quality of life in both countries?
What is clear to me is that both countries have their own unique advantages and challenges. Switzerland offers a high quality of life but comes with higher expenses, particularly in housing, healthcare, but has a strong social security net if you need it, especially if you find yourself unemployed. The UK, while also offering a high quality of life, tends to be more affordable in many areas but if you find yourself in a difficult financial situation, the social net is not as strong. My conclusion therefore is which country offers a. better quality of life very much depends on your individual circumstances at the time and what you value.