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Swiss Personal Debt: 2024 Trends Continue to Decline

  • By The Swiss Times
  • 2 March 2024

Swiss personal debt sees a notable decrease in 2023, with a drop in debtor rates across cantons, highlighting regional disparities and demographic insights.

Swiss Personal Debt: 2024 Trends Continue to Decline
Keystone/SDA – ARMANDO FRANCA

The number of indebted private individuals in Switzerland fell significantly in 2023. In January 2024, the debtor rate was still at 5.6% compared to 6.1% a year earlier. The canton of Neuchâtel has the highest debtor rate.

The rates have fallen slightly in all cantons, but there are major regional differences, as the credit agency CRIF reported on Friday.

Western Switzerland and Ticino, for example, have higher debtor ratios than the rest of Switzerland.

According to the figures, the canton of Neuchâtel has the highest debtor rate at 9.3%, followed by Geneva with 8.7%, Basel-Stadt with 7.5%, Solothurn with 7.1%, Vaud with 6.9%, Jura with 6.3% and Ticino with 6.2%.

Swiss Personal Debt Lowest in Appenzell Innerrhoden

Meanwhile, the canton of Appenzell Innerrhoden has the lowest debtor ratio in Switzerland at just 1.4%. According to CRIF, the central Swiss cantons of Uri, Obwalden, Zug and Nidwalden also have low debtor ratios.

There are also major differences between the sexes: Men are more over-indebted than women. According to the press release, men between the ages of 38 and 41 have the highest debtor rates.

However, there are not differences in all age categories. In the age group between 18 and 24, for example, both genders are equally over-indebted.

To determine the debtor ratio, all private individuals over the age of 18 who had debt enforcement proceedings from the date of the request for continuation, bankruptcy and certificates of loss were taken into account.

©Keystone/SDA

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