From Zug to Schwyz: this is where the millionaires live in Switzerland

From Zug to Schwyz: this is where the millionaire taxpayers are concentrated Keystone-SDA

There are 7,666 people living in Switzerland who declare an income of at least CHF1 million ($1.24 million) to the tax authorities, which is twelve times the median wage for workers.

The highest density is found in the cantons of Zug (860 people, 1.1%) and Schwyz (774, 0.77%), while Ticino (280, 0.12%) and Graubünden (132, 0.10%) are in the middle of the table.

+ Swiss remain world’s wealthiest population

At municipal level, Wollerau, in the canton of Schwyz, stands out with as many as 4.4%t of its population (251 people) on very high incomes, according to an analysis published on Monday by the Swiss daily Blick based on detailed data from the Federal Statistical Office dating from 2022. In absolute terms, Wollerau is surpassed only by three municipalities: Zurich (482 people), Zug (431) and Geneva (272). Lugano (100) is outside the top ten.

The list of the most popular locations includes several well-known tourist destinations such as Saanen with Gstaad (Bern), Val de Bagnes with Verbier (Valais), St. Moritz (Graubünden), Engelberg (Obwalden) and Crans-Montana (Valais). However, there are also much lesser-known municipalities such as Balgach (St Gallen) and Teufen (Aargau), which are home to 10 and 15 high-net-worth taxpayers respectively. This once again confirms that particularly low-tax rates attract the wealthy, comment the reporters at Blick.

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Translated from Italian, reviewed by an English Department journalist.