Overall score: 80.5 World ranking: 5
Data about Switzerland
- Population: 8.0 million
- GDP: $371.6 billion
- GDP Growth %: 2.0% growth
- GDP Per Capita: $46,430 per capita
- Unemployment: 4.4%
- Inflation: -0.2%
- Foreign Direct Investment: -5252.1 million
I learned that Switzerland was ranked 7th out of 177 countries in Transparency International's 2013 Corruption Perceptions Index. Protection of property rights is strongly enforced, there is a 90.0 ranking on their property rights which is approximately 35.0 above the world average. The freedom from corruption is also about 40 above the world average.
Why Is Switzerland So Expensive?
Summary of video
This talks about European economies, focusing on Switzerland, he is asking a professionals opinion on why Switzerland is so expensive and how you can tell if a economy is doing well. GDP is a way to judge how well an economy is doing although he doesn't believe its always accurate. If you raise minimum wage it will raise the prices of products (ex. min. wage there is 25$ US dollars so a cheeseburger is 30$ US dollars). Although the professional didn't agree with that accusation. More often true in reverse though. No automatic mechanism that relates the two although most people blame the prices on minimum wages.
The article above
This article is a current update on how Switzerland's economy is doing.