(PRESS RELEASE) ZURICH, 23-Nov-2022 — /EuropaWire/ — Credit Suisse Group AG, a global wealth manager, investment bank and financial services firm, has announced the release of its latest Worry Barometer 2022, a polling of Swiss voters on worries, confidence, and identity. According to the results the environment emerged as the number-one concern for the Swiss population in 2022, although in percentage terms this was unchanged from last year. The runners up are AHV/retirement provision and energy issues, in second and third place respectively, with the pandemic dropping off the list of the ten most important concerns in the country. While the war in Ukraine takes the 8th place in the top ten list, it also leaves a mark on the Swiss society too and is causing the Optimism for the future in the country to decline significantly.
On behalf of Credit Suisse, research institute gfs.bern surveyed Swiss voters once again this year about their worries and the country’s identifying characteristics. At 39%, environmental pollution (environmental protection, climate change, environmental disasters) is Switzerland’s new number-one concern (respondents were each asked to name their five top concerns). This figure is the same as last year; however, the fact that the COVID-19 pandemic – which easily topped the list in both 2020 (51%) and 2021 (40%) – is now regarded as an everyday problem at 13%, means that the environment has moved up to the number-one spot. The topic of AHV/retirement provision lies in second place at 37%.
Manuel Rybach, Global Head of Public Policy and Regulatory Foresight at Credit Suisse, said: “The results of this year’s Worry Barometer survey were particularly eagerly awaited given that in an era of inflation, war, and pandemic we might have expected multiple ‘front-runners.’ Climate change, retirement provision, and energy now lead the field in 2022, while Swiss voters’ optimism about the future has clearly deteriorated. In other words, the impact of recent economic and geopolitical developments is already being felt.”
War in Ukraine taking its toll
But what affect has Russia’s invasion of Ukraine – which began on February 24 – had on the Worry Barometer? Although the war is directly cited as a concern by only 20% of the population (eighth place), there are at least three other top worries associated with the conflict. Concern about energy issues, for instance, is up significantly at 25% (+11 percentage points, pp) and now ranks third on the list of worries – in percentage terms on a par with concerns about the shape of relations with Europe and the EU. For the first time, uncertainty about the supply of energy, medicines, and food was mentioned by 21% of respondents (seventh place). While the main concern is primarily about ensuring the supply of energy in uncertain times and in winter, anxiety about energy issues is likely to affect what Switzerland’s energy strategy will look like in future, including where potential compromises may be required in terms of environment, nature conservation, and technology, such as nuclear power. Inflation (fifth place, 24%) is another new entrant among the top five concerns. Healthcare – traditionally a key concern – is also cited by 24%, having been as high as 41% in 2018 and 2019. Finally, in ninth and tenth place are the two concerns involving migration (foreigners and refugees/asylum issues).
“This year’s Worry Barometer is characterized by the emergence of new issues of insecurity in connection with the war in Ukraine. These include energy questions, security of supply, and inflation. There seems to be a degree of anxiety among the population on these issues: Although the situation currently remains acceptable to most people, awareness of these issues is increasing significantly. What is also striking this year is that so-called materialist issues such as security are given higher priority, while post-materialist topics including gender equality are more likely to fade into the background at the moment,” says Cloé Jans, Operations Manager of gfs.bern, which has been compiling the Credit Suisse Worry Barometer since 1995.
Concern about the economy and standards of living – though not unemployment
Swiss voters are less optimistic about the (economic) future than was the case only a couple of years ago. However, this is not primarily down to fear of losing their job: On the contrary, unemployment has fallen out of the top ten concerns for the first time since 1988. Rather, the uncertainty revolves around the supply situation as well as whether and how the standard of living to which people are accustomed can be maintained amid the current circumstances and multiple crises. Voters’ assessment of their own economic situation does not yet show any deviation versus previous years, with 65% (+0 pp) of respondents describing it as good or very good, and only 6% (+0 pp) as bad or very bad. However, a look at the coming 12 months shows a significantly different picture: No less than 19% (+9 pp) fear a worsening of their personal circumstances – the highest percentage in the survey’s 27-year history.
Against this background, it is reassuring to note that, at the same time, trust in the three important institutions of the Federal Council (68%), police (67%), and the Federal Supreme Court (66%) is broad-based and stable. At a lower level, the same applies to the other institutions mentioned in the survey, such as the Swiss National Bank, Council of States, National Council, and political parties – indeed there is even evidence of a slight upward trend here. Although pride in being Swiss has tended to dip slightly, it remains very high at 77% (–1 pp). The armed forces have been the biggest gainers in terms of confidence (+8 pp to 48%), reflecting an increased need for security in uncertain geopolitical times.
Swiss identity under pressure – Europe pulling together
Along with direct democracy, federalism, and the militia concept, neutrality is one of the main identifying characteristics and a pillar of Swiss politics. When asked about various factors that threaten Switzerland’s identity, external pressure, in its different forms, plays a significant role for many respondents. In concrete terms, Switzerland’s dependence on the global economy (71%), the EU and its problems (67%), and immigration (60%) are increasingly seen as threats to Switzerland’s identity. 68% feel that Switzerland’s core principles are threatened by the fact that Western values are generally under pressure in the new geopolitical tug of war. But voters also point to home-grown risks that weigh on the nation’s shoulders – above all, the decline in volunteer work (79%) and the inability of politicians to find viable solutions to problems (78%).
Two years of pandemic and more than six months of war in Ukraine have changed Europe and Switzerland’s view of the European Union (EU). 32% of Swiss voters believe the events of the last 12 months have strengthened the EU. This does not seem to be very much at first glance, especially since 57% think the EU has been weakened. However, the trend shows that three times more people are now reaching a positive verdict than in 2019 (10%). In addition, 52% think the war in Ukraine has welded Europe together as a community of values.
Europe – quo vadis?
In May 2021, the Federal Council announced it was unilaterally ending the talks – which date back to 2014 – about an institutional framework agreement between Switzerland and the EU. Now that some time has elapsed, what do voters think about this policy decision? The Credit Suisse Worry Barometer shows that 49% (–2 pp versus 2021) of voters consider the decision to be fairly/very correct, while 42% (+2 pp) think the opposite. Of the eight options available for regulating future relations with the EU, the negotiation of an institutional framework agreement is still clearly favored – and in percentage terms is on a par with further development of the Bilateral Agreements. In second place – and representing a change from the previous year – is accession to the EEA, which is now considered a better route than suspending the Bilateral Agreements without further development. Termination of the Agreement on the Free Movement of Persons is still mentioned as a possible solution, while rejection of the Bilateral Agreements – or indeed a special relationship with the EU – is considered just as implausible an option as EU accession.
In the eyes of respondents, therefore, discussions on an institutional framework agreement must continue given that 76% consider stable relations between Switzerland and the EU to be important. The same figure is arrived at for the Bilateral Agreements themselves, meaning a clear majority consider it important to achieve a breakthrough in negotiations with the EU. Many are looking to the Federal Council in particular, with 40% saying responsibility lies with the national government and 21% with the Swiss delegates in Brussels. Only 14% consider the EU to be chiefly responsible. Altogether, therefore, a clear majority of 61% of eligible voters believe that the ball is now primarily in the Swiss government’s court when it comes to developing ties with the EU. This opinion has been voiced by members of all political parties.
Moving away from a niche policy
Voters’ assessment of their own country remains positive by international standards, although Switzerland’s vulnerability has been laid bare by the pandemic and the war. For 92% (–3 pp) of voters, the Swiss economy is in fairly/very good shape compared with other countries – a very high figure. Indeed, this figure has only been lower once since 2012 – namely in 2017 (89%). In addition, 54% of those surveyed still believe Switzerland can compensate for more difficult access to the EU market through increased trade relations with third countries. By contrast, this year only 36% (–9 pp) say they are in favor of Switzerland having an independent economic niche policy compared with 53% in 2020. A majority of the population (52%) believes negotiating clout on economic issues can be improved by moving closer towards a unified EU position.
Manuel Rybach comments: “The results of this year’s Worry Barometer reveal a nuanced opinion of Switzerland’s role in the world. While neutrality remains important, a go-it-alone approach is not the solution for a majority of Swiss voters. Instead, they believe solutions to political problems must be found internationally and by means of greater involvement on the part of Switzerland. Fewer respondents now believe Switzerland is immune from global problems and when it comes to climate policy in particular, they increasingly want the country to play a leading role.”
Overview: Key findings from Credit Suisse Worry Barometer 2022
A new top concern: Environmental protection/climate change is now top of the list of concerns for Swiss voters in 2022 – although in percentage terms it is unchanged from last year. This is followed in second and third place by AHV/retirement provision and energy, respectively, while the pandemic no longer features among the top ten worries.
New factors of uncertainty: This year’s Worry Barometer is characterized by the emergence of new factors of uncertainty in connection with the war in Ukraine. These include energy (third place), rising inflation (fifth), and supply security (eighth). Post-materialist topics, to some extent, are now fading into the background.
Gloomier outlook: Optimism about the future, which had been strong up to now, is crumbling among Swiss voters. With a view to the next 12 months, 19% (+9 pp) fear a deterioration in their personal economic situation – the highest percentage in the survey’s 27-year history.
Confidence in institutions: Confidence in Switzerland’s institutions, which was to some extent lost during the pandemic, has returned in 2022. Confidence in the three important institutions of the Federal Council (68%), police (67%), and Federal Supreme Court (66%) is broad-based and stable. Confidence in the Swiss National Bank and Swiss armed forces has also increased significantly.
Identity under pressure: When asked about various factors that endanger Switzerland’s identity, dependence on the global economy (71%), the EU and its problems (67%), and also immigration (60%) are increasingly considered threats. 68% feel that Switzerland’s core principles are threatened by the fact that Western values are generally under pressure in the new geopolitical tug-of-war. However, domestic problems are also lurking – one example being the decline in volunteering (79%).
Relations with Europe: Out of eight options available for regulating future relations with the EU, the negotiation of an institutional framework agreement is still clearly favored – in percentage terms on a par with further development of the Bilateral Agreements. This shows that a clear majority consider it important to achieve a breakthrough in the negotiations with the EU. Many are looking to the Federal Council in particular, with 40% seeing the Swiss government as responsible and only 14% thinking the ball lies in the EU’s court.
* Environmental protection / climate change / climate catastrophe
** Foreigners / immigration / free movement of persons
Credit Suisse Worry Barometer: representative survey
What are the biggest worries for Swiss voters? How much confidence do they have in political, business, and social leaders? For the past 46 years, Credit Suisse has conducted an annual Worry Barometer survey to examine precisely these issues. With the Worry Barometer, Credit Suisse aims to contribute to the public debate on issues of socio-political relevance. From July to August 2022, the research institute gfs.bern surveyed 1,774 eligible voters across Switzerland on behalf of Credit Suisse. The statistical sampling error is ±2.3 percentage points.
Detailed analyses of the survey, including infographics, can be found at www.credit-suisse.com/worrybarometer as well as in our special publication “Kompass für die Schweiz” (download link on the website).
Please use the term “Credit Suisse Worry Barometer” or #WorryBarometer when mentioning the results on social media.
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- Unit of Measure enters partnership with Stibo Systems
- Haizol, metal manufacturing giant, launch a brand new website which is both user friendly and interactive
- Groundbreaking Immersive Experience from Samsung and Artist Michael Murphy Reveals a New Perspective for Visual Entertainment Through the Stunningly Slim Neo QLED TV
- Collaboration between Airbus and Neural Concept
- Archpriest Nikolay Balashov on Patriarch Bartholomew’s speeches in Kiev
- ABB's Peter Voser joins Xynteo's Europe Delivers partnership as it new Chairman
- Digi Communications NV announces that a new stock option programme was approved
- Leverage the benefits of digital manufacturing with Haizol
- Digi Communications NV announces the release of the H1 2021 Financial Results
- Digi Communications NV announces Investors Call on the Financial Results for H1 2021
- Rockegitarist-Sensasjon Rocky Kramer Har Fått Hovedrollen I Mutt Productions Filmen Rockin’ In Time
- Dispatch.d Offers Unique US Market Entry Services for European Impact Brands
- CSA Research’s New Localization Intelligence Analyzer, powered by LocHub, Helps Organizations Improve their Website’s Effectiveness for Global Customers
- Customer Data Platform Industry Accelerated During Pandemic: CDP Institute Report
- Digi Communications N.V. announces that two of its subsidiaries entered into two facility agreements
- Introducing Cap Expand Partners, Helping Business Leaders Break International Barriers
- Hong Kong’s Innovation and Technology Venture Fund Becomes Strategic Financial Investor of Ignatica
- Cure for prostate cancer on the horizon
- Fanpictor signs multi-year partnership with Royal Belgian Football Association
- Fanpictor unterzeichnet mehrjährige Partnerschaft mit dem Königlich Belgischen Fussballverband
- Fanpictor signe un partenariat pluriannuel avec la Royal Belgian Football Association
- Fanpictor firma una colaboración de varios años con la Real Federación Belga de Fútbol
- Fanpictor firma una partnership pluriennale con la Royal Belgian Football Association
- Fanpictor tekent meerjarige partnership met Koninklijke Belgische Voetbalbond
- Launch of the New Akenza Platform
- De zelflerende algoritme DBLG1®: eenvoudig te gebruiken voor een optimale en gepersonaliseerde behandeling van diabetes type 1
- Launch of the Anna Lindh Foundation Virtual Marathon for Dialogue!
- Digi Communications N.V. announces the exercise of stock options by the Executive Director of the Company pursuant to the decision of the Company’s general meeting of shareholders dated 30 April 2020 and in accordance with the stock option plan approved at the level of the Company in 2017
- New research unlocks long tail growth opportunity for the tech industry
- Digi Communications NV announces the availability of the instructions on the 2020 share dividend payment
- Digi Communications NV announces that conditional stock options were granted to several Directors of the Company based on the approval of the general meeting of shareholders from 18 May 2021
- Digi Communications N.V. Announces the Company’s General Shareholders Meeting resolutions adopted on 18 May 2021 approving, amongst others, the 2020 Annual Accounts
- Digi Communications N.V. (“Digi”) announces the Q1 2021 Financial results
- Digi Communications NV announces Investors Call for the Q1 2021 Financial Results
- Digi Communications N.V. announces an Amendment to the 2021 Financial Calendar
- Fastpayhotels Hits an Industry Milestone by Connecting 500 Hotels Per Day Through DerbySoft Technology
- 4 ways to build a more flexible supply chain
- Join the world's leading virtual CBD event for FREE
- DEEPENING STRATEGIC RELATIONSHIP BETWEEN UBC AND PIONEERING DECENTRALISED PLATFORM, MANYONE
- Mono Solutions recognizes Norwegian small business agency with best website 2021 award
- Mono Solutions and Xrysos Odigos unlock new opportunities for small businesses
- Behind the scenes of a 10,000-people online conference: creating a live-event atmosphere and leveraging cybersecurity software
- Largest Supply Chain for Face masks, FFP2, FFP3 and cloth masks
- TRANSMAR AND TRANSMETRICS SIGN DEAL FOR STATE-OF-THE-ART LOGISTICS COLLABORATION
- Amendment of Digi Communications N.V. Financial Calendar for 2021
- 4iG and Digi Communications NV’s Romanian subsidiary have entered into a term sheet with regards to a potential acquisition by 4iG of DIGI Group’s Hungarian operations
- “Building Healthy Relationships and Enhancing Gender Equality”: Young women from Cyprus, Egypt, Lebanon and Jordan come together
- Bring Ventures investit dans Crossborderit (CBIT), DDP et une solution de commerce électronique
- Bring Ventures investiert in Crossborderit (CBIT), eine DDP (geliefert verzollt) und E-Commerce Lösung
- Bring Ventures invests in Crossborderit (CBIT), DDP and ecommerce solution
- Lionspeed GP with Patrick Kolb and Lorenzo Rocco joins forces with CarCollection Motorsport in 2021
- Eurekos, ein klassenbester LMS-Anbieter, hat seine Position im renommierten Fosway 9-Grid™ für Lernsysteme verbessert
- Eurekos, en førsteklasses LMS-udbyder, har forstærket sin position på den prestigefyldte Fosway 9-Grid™ for læringssystemer
- Eurekos, ein erstklassiger LMS-Anbieter, hat seine Position auf dem renommierten Fosway 9-Grid™ für Lernsysteme weiter ausgebaut
- Digi Communications N.V. announces Share transaction made by an executive director of the Company with class B shares
- Digi Communications N.V.: Announces an Amendment to the Financial Calendar for 2021
- Ideanomics Invests $13M in Italian EV Motorcycle Company, Energica
- DigiSky and Asman Technology Announce Global Reseller Agreement
- Neowintech - O Marketplace Da Sua Próxima Solução Financeira
- Neowintech - Il Marketplace per la tua prossima soluzione finanziaria
- PIONEERING DECENTRALISED SECURE MESSAGING PLATFORM MANYONE ANNOUNCES STRATEGIC RELATIONSHIP WITH UNIVERSITY COLLEGE LONDON CENTRE BLOCKCHAIN TECHNOLOGY
- Digi Communications NV announces the release of the 2020 Preliminary Financial Results
- Fraunhofer IGD develops automated robotic arm to scan cultural objects in 3D, now cooperating with Phase One
- Adapt Fast or Disappear – Choosing the Right Supplier
- Digi Communications NV announces Investors Call for the 2020 Preliminary Financial Results
- A URSAPHARM Arzneimittel e a CEBINA anunciam uma parceria com vista a reaproveitar o anti-histamínico azelastina para combater a COVID-19
- URSAPHARM Arzneimittel et CEBINA annoncent un partenariat pour reconvertir l'antihistaminique azélastine afin de lutter contre la COVID-19
- URSAPHARM Arzneimittel y CEBINA anuncian una colaboración para readaptar el antihistamínico azelastine para combatir la COVID-19
- URSAPHARM Arzneimittel and CEBINA announce partnership to repurpose the antihistamine azelastine to combat COVID-19
- ANIL UZUN Will Launch Bass Guitar Lessons Series on Youtube
- Henrik Stampe Appointed CEO for Mono Solutions
- Anna Mossberg leder Nordens största privata AI-lab i Sverige: "Utan AI riskerar svenska företag att förlora sin konkurrensfördel."
- What COVID-19 has taught us about manufacturing & the importance of a digital online marketplace
- Digi Communications N.V. announces: the Supreme Court of Hungary dismissed the Company’s appeal related to the 5G Tender procedure
- Customer Data Platform Industry to Reach $1.5 Billion in 2021: CDP Institute Report
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GreenMantra Technologies Announces Exclusive Distribution Relationship with HARKE GROUP