The corona virus crisis is of great concern not only to the federal government and the economy, but also to the population. In a representative survey conducted by the Comparis comparison portal, 88 percent of those surveyed stated that they were concerned. Almost a third expect their own financial situation to deteriorate.
Fear of economic crisis
Only one in five Swiss people (22 percent) fear an economic crisis. In contrast, citizens in eight other countries (Germany, Spain, Italy, France, Belgium, Great Britain, Poland and the USA) who took part in the survey are much more pessimistic. Two out of five of the respondents (38 percent) are afraid of such a crisis. Only France has a lower rate (17 percent). Italy (51 percent), Spain (46 percent) and Germany (45 percent) are the countries where an economic crisis is most feared.
The fears most frequently cited by the respondents are death and illness. The Swiss are more confident here too. A little more than one in four Swiss people (27 percent) fear the death of a loved one, compared to seven out of ten French people (71 percent) and two thirds of Spaniards (67 percent).
As far as the measures taken by the Federal Council to contain the coronavirus are concerned, 29 percent of the Swiss consider them to be sufficient. 12 percent want less and a third more.
The poll was conducted between March 24th and 30th by the YouGov polling agency for the European newspapers of the LENA Alliance. The “Tribune de Genève” and the “Tages-Anzeiger” belong to this alliance. 10,963 people were interviewed, including 507 in Switzerland.
«The lockdown and the associated drop in sales, together with the uncertain stock market situation, result in a dangerous mix that is the financial future
affects many people negatively, »says Michael Kuhn, financial expert at Comparis. The younger population in particular now wants to cut back: 52 percent of 18- to 35-year-olds say they want to consume less and save more.
Are you worried about money too? What are the reasons and how do you deal with it?
To save, Swiss want to avoid unnecessary expenses and spontaneous purchases. Many also want to use discounts more often.
One-person households in particular and those with a gross income of up to CHF 4,000 are pessimistic about the coming weeks. Most often, pessimists base their assessment on the fact that they have to do short-time work. 13.7 percent state that they expect a drop in sales as self-employed. Other reasons mentioned are job loss and loss of value in own investments.
The coronavirus crisis has eroded the optimism of the Swiss population, as Comparis writes: In the December 2019 survey, only 13 percent of those surveyed expected their financial situation to deteriorate – compared to four years ago, there were fewer than ever.
Despite all the negative scenarios, there are also optimists: 13 percent of all survey participants expect a financial improvement in April.