Business

Lugano updates its macroeconomic indicators

11 December 2025

Curated by Editorial Team

A comprehensive analysis of stability, rising costs, and new local strategies.

La City of Lugano Lugano has released the latest analysis of macroeconomic indicators and their impact at the local level, developed by the Urban Statistics Service and available through the city's institutional channels. The document offers a comprehensive picture that, while highlighting a period of relative stability at the national level, highlights some pressures for Lugano families, particularly related to healthcare costs and demographic changes.

Moderate growth and uncertain international context

The Swiss economy continues its path of controlled expansion: GDP grew by 1.1% in the first quarter of 2025, then stabilized in the second. The forecast for the full year remains around 1.3%.
In Ticino, the trend remains solid, while Lugano recorded a particularly positive performance: between 2021 and 2022, overall GDP grew by 7.3%, while per capita GDP increased by 5.6%, reaching 9,059 million francs and 142,074 francs per capita, respectively.

However, the global landscape continues to be shaped by geopolitical factors. Tensions in the Middle East and the war in Ukraine continue to influence international balances, while in the United States, new trade tariffs introduced in August 2025 have had repercussions on export-oriented sectors. In Lugano, approximately 13.2% of companies operate in sectors potentially exposed to such changes.

Inflation down and energy costs repositioning

One of the most positive signs concerns inflation, which has fallen below 1%. Central banks have responded by lowering interest rates, easing the cost of mortgages and loans.
On the energy front, electricity prices remain higher than 2022 levels, while gas prices show more limited fluctuations. For 2026, AIL forecasts a 9.5% reduction in electricity rates, a measure that should bring direct relief to households.

Rising healthcare premiums and disposable income under pressure

However, the critical situation remains on the healthcare front. Nationally, health insurance premiums will increase by an average of 4.4% in 2026, while in Ticino the increase will reach 6.9%. The impact on disposable income is significant:

for a single person with a net monthly income of 5,175 francs, the estimated loss is 3.1%;
for a family with two children and a net monthly income of 7,767 francs, the contraction reaches 14.4%.

Labor market and pressure on incomes

The city's labor market showed a very slight increase in unemployment between the second and third quarters of 2025, attributable to seasonal factors. The overall rate, however, remains at 1.8%.
Nominal wages continue to rise, but real purchasing power remains below pre-pandemic levels. In the long term, pension benefits are also under pressure: the progressive aging of the population and the declining birth rate are compressing the active capital of pension funds, with repercussions on future benefits.

City strategies between energy, research and aging

Faced with this scenario, the City reiterates the strategic orientations already outlined in the Development Guidelines Lugano 2030The aim is to strengthen energy efficiency and building retrofitting initiatives, also thanks to cantonal incentives. The current conditions, characterized by low inflation and favorable interest rates, are seen as an opportunity to accelerate policies aimed at the sustainability of real estate assets.

At the same time, the Municipality is directing its efforts toward structured management of the challenges associated with an aging population and rising healthcare costs. Collaborations with local research centers and academic institutions are planned to intensify, promoting interdisciplinary analysis in the medical, social, and economic fields.

The Innovation Booster Silver Aging makes its debut in Ticino

In 2026, Lugano will host the Innovation Booster Silver Aging in Ticino for the first time, a national initiative supported by Innosuisse and led by the Haute École Arc Santé. The program applies an open innovation model and involves active partners throughout Switzerland with the aim of developing solutions for the elderly population.

Each year, up to 12 projects in the areas of health, mobility, housing, and prevention are supported, with funding of up to CHF 25,000 per initiative. The program's arrival in Lugano represents an opportunity to leverage local expertise and strengthen the regional innovation ecosystem.

Towards new forms of collaborative living

Among the measures under consideration is a digital platform dedicated to innovative cohabitation models for students and seniors. The goal is to identify sustainable, scalable, and replicable solutions, including at regional level.