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Zürich has long-featured at the top of the list of cities offering the best quality of life in the world. Having finally visited for the first time last week, I can now see why.

Mind you, I wasn’t so enthused when I looked out the plane’s window as we came in to land. The pilot informed us (a little too cheerily, I thought) that it was -3°C, and the sky was an ominous grey.

Still, the city soon made up for it.

I had a few hours to kill before a business meeting, so I took the opportunity to amble around the Old Town, before finding my way through the winding streets to the Kunsthaus art museum.

The museum lacks the grandeur and wealth of treasures that the Louvre, National Gallery or the Prado can boast. But with a collection of works spanning six centuries – including some beautiful pieces by Canaletto, Monet and Van Gogh – it is well worth a trip.

And Zürich has a lot more to offer. The cafes, restaurants, shops, and its beautiful lake make Zürich an enviable place to live. Easy access to Switzerland’s world class ski resorts has a certain attraction too!

The Swiss advantage

And Switzerland’s appeal is not limited to its culture or sporting activities.

In its most recent annual survey, the World Economic Forum crowned Switzerland as the most competitive nation in the world for the second year running.

Switzerland was followed by Sweden, with Singapore third in the rankings. The United States slipped to fourth. The United Kingdom was 12th.

Running like clockwork

Such rankings were underscored on my way home.

The Swiss, of course, are famed for their timekeeping and efficiency. When the trains say they will arrive at a certain time they do, and to the second. They are smooth, clean and comfortable. Getting around Zürich is a cinch.

By contrast, getting back to my home in the UK was anything but smooth and comfortable. London’s Underground system was ground-breaking (literally) when it opened 150 years ago. Now though it is showing its age. There are constant repairs, and too many people jostling to get on.

The subsequent overland leg of my train journey was even worse. Broken signals, delays, overcrowded carriages. Suffice to say, it eventually took me twice as long to get from London’s City airport to home as it had taken me to fly from Switzerland to the UK.

Having lived abroad for many years, I know that nowhere is perfect.

Britain has its faults, for sure – the climate, the overstretched transport infrastructure, the lack of space, its cost of living. Yet coming back to live in the UK has helped me see it with new, more sympathetic eyes, better able to appreciate the wonderful things it does have to offer, and not just the bad bits.

Still, I can see why there is so much interest – especially among those well-paid financial types – in relocating to Switzerland.

Much of the reason may be to do with the favourable tax regimes they can expect to find in the country’s various cantons.

But I’m sure Switzerland’s long-trumpeted quality of life advantages must be as much of a draw.

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Alan Howard, founder of leading hedge fund Brevan Howard Asset Management, has joined the expat ranks.

Recent reports say Howard, who is swapping London for Geneva, is among a number of financial luminaries to have left the UK. And there are fears many more will follow, driven by concerns about rising tax rates, a less attractive business environment, and quality of life issues.

Certainly Geneva has its attractions. Low tax is an obvious one, especially for those wealthy City types. For example, alternative investment managers (i.e. those at hedge and private equity funds) can obtain a special tax status that enables them to discount chunks of their taxable income. Indeed, Switzerland as a whole offers many tax advantages.

Then there are the lifestyle benefits – the proximity of world-class ski resorts, sailing on the country’s many lakes, the beautiful scenery, its excellent environmental record, high quality health and education systems, etc, etc.

And that is backed up by Mercer’s 2010 Quality of Living survey, which put Geneva third in its global rankings, one place behind Zurich[1].

The flipside is that Geneva also ranks as one of the most expensive cities in the world, coming in fifth in Mercer’s recently released Cost of Living survey[2].

With a reported fortune of £875 million that won’t faze Alan Howard. Still, it might give the rest of us pause for thought.


[1] Mercer 2010 Quality of Living survey, 26 May 2010 http://www.mercer.com/qualityofliving

[2] Mercer Worldwide Cost of Living survey 2010 – City rankings, 29 June 2010, http://www.mercer.com/costoflivingpr#City_rankings

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