Eleven municipalities. Zero net debt.
In 2024, every one of Zug's 11 municipalities reported net financial wealth, not debt — and the canton-wide average has grown roughly 3.5× since 2014. Here's what “Nettoschuld pro Einwohner” (net debt per resident) actually shows, municipality by municipality.
Net financial position, by municipality
Net debt (foreign capital minus financial assets) per resident, in Swiss francs — canton average −CHF 7'136. A negative figure means net wealth, not debt — every municipality here currently reports net wealth.
Growth, across a decade
Every bar in the chart above is one snapshot, 2024 only — but net wealth per resident has climbed almost every year since 2014, canton-wide: from CHF −2'017 to CHF −7'136. That's not one municipality pulling the average up over one good year; it's a decade-long, broad-based trend.
Bars shade from 2014 (blue) to 2024 (gold) — hover a bar for its exact figure.
The city out in front
That decade-long climb isn't spread evenly, though. The City of Zug alone reports CHF −19'630 in net wealth per resident for 2024 — more than double the next municipality on the list (marked with a above), and well above the canton-wide average of CHF −7'136. A single dominant municipality skewing a per-resident average is common in financial figures like this one — it's worth reading the chart above municipality by municipality rather than taking the average at face value.
A handful of exceptions
None of this happened overnight, and the “every municipality, every year” framing isn't quite absolute: 6 of the 117 municipality-year records on file show net debt instead of wealth, all early in the series — the most recent was in 2019. Every municipality has reported net wealth every year since.
| Year | Municipality | Net debt / resident |
|---|---|---|
| 2014 | Neuheim | CHF 48 |
| 2014 | Walchwil | CHF 898 |
| 2015 | Neuheim | CHF 166 |
| 2017 | Walchwil | CHF 1'693 |
| 2018 | Walchwil | CHF 2'270 |
| 2019 | Walchwil | CHF 1'920 |
Methodology & source
“Nettoschuld pro Einwohner” is foreign capital minus financial assets, divided by resident population. A negative figure means net wealth (more financial assets than debt) — this story fills negative (wealth) bars solid and leaves positive (debt) bars hollow for exactly that reason. The convention is the source dataset's own, not something added on this portal.
Data covers 2014–2024 for 11 municipalities; one municipality (Risch) has fewer years on record than the others, so its trend line is shorter than its neighbors'.