UBS Worry Barometer 2024

For almost 50 years now, the Worry Barometer has served as a key benchmark of the topics of particular importance to Swiss citizens. How do things look in terms of financial security? What do the Swiss think about the pension system? What about issues such as the environment or migration? The study asks all these questions every year and clearly shows how the population’s opinions evolve over the years.

However, for the authors of the study, it’s also important to find ways to turn people’s worries into opportunities. This is because the Worry Barometer also reveals which topics are currently relevant and where there is most potential for change. This provides key information for actors from politics and business on how they can incorporate the population’s opinions when new decisions are made.

The UBS Worry Barometer, which was compiled by the gfs.bern research institute as in previous years, clearly shows that an increasing number of Swiss people are concerned about material and financial issues. Nearly one-third of the population is experiencing financial uncertainty due to potentially higher living costs. The rising costs over the past year have led to uncertainty among respondents in several areas of their lives. These include, in particular, issues such as higher health insurance contributions and housing costs, safeguarding the future of the social security system, the tax burden, inflation and retirement provision.

This represents a clear change to the years when the COVID-19 pandemic was at its height. The global political situation, which was becoming increasingly uncertain at the time, fueled existential fears, for example relating to the adequate supply of essential goods and energy.

In 2024, heated debates and two popular initiatives on the topic of retirement provision were the dominant issues in Switzerland. The vote on a 13th state pension payment and the BVG reform were the subject of political discussion and widespread media coverage that lasted for months. Ultimately, voters accepted the proposal to reform the state pension but rejected the motion to reform occupational pension provision. The fact that retirement provision issues were so prominent also meant respondents in the UBS Worry Barometer 2024 were increasingly concerned, resulting in the topic placing third.

Retirement provision has been, and continues to be, one of Switzerland’s largest reform components. There is still a need for reform in the pension system, even after the votes. However, it’s not yet clear in detail how this reform can be implemented. This uncertainty could provide a boost for private retirement provision, which people can use to significantly increase the assets they expect to save until retirement.

Almost one-third of respondents feel that the environment remains a concern in Switzerland. The main reason for this seems to be the persistent extreme weather events that are being observed in Europe and in other parts of the world. Storms, water scarcity and heat waves are becoming increasingly noticeable and remain a relevant source of concern for the Swiss as well.

Environmental issues are particularly important for young adults aged between 19 and 29, the group known as Generation Z. They often consider the risk of a potential climate crisis to be particularly high. But environmental concerns remain very relevant for other generations as well. Actors from business and politics can derive direct recommendations for action here. This is because environmental concerns are not only significant from an ecological perspective. They also require people to take precautions and to change their thinking where the economy, society and their everyday lives are concerned.

The Worry Barometer is an opinion poll that has served as a benchmark for the topics of particular importance to Swiss citizens for over 48 years. What issues are currently preoccupying the population? How much confidence do they have in political, business and social leaders? The annual representative poll of the Swiss electorate tracks changes and trends, and indicates potential areas of hope. It reflects opinions across all generations, thus shedding light on conclusions relevant to shaping Switzerland’s future.

For many decades, the Credit Suisse Worry Barometer made a significant contribution to the public discussion of socially relevant topics. UBS is now continuing this important role.