Number of frontaliers increases. Euro rate stable at 1.09308 August 2019
Switzerland has again become more attractive to cross-border commuters. In the second quarter of 2019, the number of cross-border commuters increased to 323,000, an increase of 2.4 percent compared to the same period last year. What are the reasons?
Last year, the number of cross-border commuters fell in Switzerland. This year, the growth came mainly from Italy, 3.7% more frontier workers and France, 3.2% more frontier workers. On the other hand, the number of frontier workers from Germany continues to decline. This number has dropped by 1.1 percent.
Furthermore, most of the frontaliers in the Lake Geneva region - 121'000 after Northwestern Switzerland with 70'000 cross-border commuters and Ticino with 66'000 frontalieri. Most frontier workers come from France. Far less, namely ¼ from Italy and 1/6 from Germany. Frontier workers work mainly in the service sector.
An important incentive to live in Switzerland and work in countries close to the border is the strong Swiss franc at the moment. The EUR CHF rate has fallen sharply in recent months, by up to 10% overall. With such a good euro exchange rate, the purchasing power of cross-border commuters has increased considerably, which continues to make Switzerland an attractive destination for cross-border commuters. Check our currency converter for the best exchange rates