Why is Switzerland so rich?

Strong Economy and Financial Sector Switzerland has a highly developed economy that is largely based on its strong financial sector. The country is home to several of the world's largest banks, including UBS and Credit Suisse, as well as numerous insurance companies and wealth management firms.



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Swiss people earn USD 64 824 per year on average, much more than the OECD average of USD 49 165 and one of the highest in the OECD. Another essential factor of employment quality is job security, in terms of expected loss of earnings when someone becomes unemployed.

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Switzerland has mandatory military service (German: Militärdienst; French: service militaire; Italian: servizio militare) in the Swiss Army for all able-bodied male citizens, who are conscripted when they reach the age of majority, though women may volunteer for any position.

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In the world, the poorest countries are mostly located in Africa and Asia, with Burundi being the poorest country followed by Somalia, Mozambique, Central African Republic, and Madagascar.

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