Why Migrate to Basel? - Newdich
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Why Migrate to Basel?

Ellen McDonald moved to Switzerland in 1982 with her boyfriend to live in Basel. She entered Switzerland on a tourist visa with only six months in the city. While she didn’t have a job lined up in Basel, she enrolled at the University of Basel to study English. Unfortunately, her diploma wasn’t recognized in Switzerland, and she was stuck. She eventually migrated to London. However, after two years in Basel, she finally found a job.

Social cohesion

If you have ever considered moving to another city and have no idea what you’re getting into, you’ve likely wondered about social cohesion. The Swiss city of Basel is a wonderful place to live and work, but what about when you want to explore a new culture and a new language? The city’s diverse population is one reason why it’s easy to find a new community.

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Cost of living

Relocating to Basel, Switzerland, maybe a good option if you’re looking for a unique lifestyle. The city is located on the northwestern border of Switzerland and borders France and Germany on the west. As a result, residents enjoy the benefits of living in Switzerland but also have the advantage of accessing the great shopping opportunities of France and Germany. Because Basel is not in the European Union, the cost of living here is considerably lower than it would be in another member state.

Attraction of immigrants

In a recent survey, 533,800 people came from outside of Switzerland, most for work. But a few came for studies or other reasons. This research shows that the majority of these immigrants are of non-European descent and that full integration remains out of reach. The most affected areas include housing, employment, education, and social activities. Nonetheless, Basel continues to be an attractive destination for newcomers.

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Place-branding initiatives

In Basel, place-branding initiatives have taken on new meaning in light of the arrival of thousands of immigrants. Some of these initiatives have been controversial, notably the colorful slogan of the city, “Basel is for migrants”. Others, however, see them as instruments of regional development. And there are certainly challenges associated with the implementation of these initiatives. Yet there is a growing consensus that such initiatives are the way to go.

Banks migrating to Basel II Accord

The Basel Committee on Banking Supervision is an international group of banking regulators and has been in existence since June 2004. The Basel Accord provides a comprehensive framework for banks to manage and mitigate risk, as well as align capital and risk. While many countries have already adopted Basel II, banks in low and middle-income countries have the most challenges in implementing the new rules. In addition to new capital requirements, the Basel II Accord also provides a new framework for risk management.

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Location of Basel in Switzerland

The Rhine River runs through Basel, a city that sits close to the borders of France and Germany. The old town centers around the Marktplatz and boasts the 16th-century Town Hall as its most recognizable building. Its 12th-century Gothic cathedral offers great views of the city and is home to Erasmus’ tomb. The university has collections of Erasmus’ works. While in Basel, visitors should plan to visit one of the nearby wineries.