Swiss enjoy high level of disposable income

According to a recent survey, no other nation in Europe is happier than the people of Switzerland, who enjoy a high standard of living. However, 6.6% of the population is adversely affected by poverty.
 
As is widely known, and as confirmed by figures published by the Swiss Federal Office of Statistics (BFS), the Confederation enjoys some of highest standards of living in Europe, with only the people of Luxemburg and Norway having a higher purchasing power (as of 2014).  However, the situation in Switzerland is not so good when it comes to how wealth is distributed, with the income of the wealthiest 20% of the population amounting to four times higher that of the poorest 20%. The slightest difference in this regard was recorded in Iceland, where it was 3.1%, and in Norway, where it was 3.4%. In Germany the difference was 5.1%.

In calculating these figures, the BFS worked in collaboration with the Office of Statistics of the European Union (Eurostat), based on information provided by more than 270,000 people from some 130,000 households in more than 30 countries, who were asked by telephone about their income and living conditions.
 
What is interesting to note is that the survey showed that the population in almost all countries said they were at their happiest in regard to the state of their personal relationships, but less satisfied with the free time they have at their disposal. Not unsurprisingly, it was found that, across Europe, the area of least satisfaction related on the whole to household income. However, in the case of Switzerland, Sweden and Norway, people in these countries were less satisfied with the amount of free time available to them, rather than their financial situation.
 
As mentioned, the BFS concluded that as many as 530,000 people in Switzerland (or 6.6% of the population) were adversely affected by poverty, admitting they had to relying on savings to cover everyday expenses. Indeed 16.7% of pensioners were included in this category. Furthermore, as many as 2.9% of the population admitted to getting into debt to cover everyday expenses.
 
In addition to pensioners, other categories of people were found to have been experiencing financial problems, namely those who left school after completing the compulsory number of years only, and without continuing with their education. Foreigners, too, were included in this category, with the exception of northern and eastern Europeans. Other groups included those who were out of work and those of working age living alone.
 
It was also discovered that households with children were also often affected by poverty, with 15% of them having difficulty in making ends meet. 30% of those most adversely affected included single parent households with children.
 
The top chart shows those countries whose populations enjoy the highest purchasing power, i.e. the highest disposable income after taxes and other deductions have been made, with Switzerland (highlighted in blue) coming in third place.