The global epidemic is bringing nations together and encouraging them to return to their roots. The German-speaking world’s concept of Heimat – our social, cultural and emotional understanding of what it means to be «home» – is taking on new importance in these challenging times, Michael Welti writes for finews.first.
This article is published on finews.first, a forum for authors specialized in economic and financial topics.
As humans, our needs dictate what we do when we are free to make our own decisions. Our needs are our inner driving force. For example, we feel a need to enjoy life when every day is filled with fear, stress, exhaustion and frustration. This prompts us to seek out things that help us to live lives that are «enjoyable» and «fulfilling». Interestingly, an analysis of digital change showed that most innovations are responses to life’s irritations.
Locality is one of humanity’s most important needs. This means the desire for home, community, roots or identity. It includes places that we personally identify with and objects that we regularly focus our attention on. These things define our world and make it what it is. Locality is the need for a space of our own and regular social contact. It is the desire for a place of personal experience that we know and cherish.
«Amid all the openness and opportunities, there is still always a fear that we might lose touch with ourselves»
In these times of significant crisis, the concept of Heimat provides a basic structure for Swiss companies. At first, the world was still open, almost boundless, and full of freedom and possibilities. There was a risk of becoming uprooted. Amid all the openness and opportunities, there is still always a fear that we might lose touch with ourselves. Given this, it is hardly surprising that so many people around the world are rushing to return to their homelands, their places of origin, their homes. The current epidemic is encouraging us to get back to our roots.
Futurologists also refer to this as a neo-Biedermeier trend. «Family is coming back into fashion,» explained Andreas M. Walker, the long-standing co-president of the Swiss Future Association. «Last Christmas we saw the image of Joseph, Mary and Jesus – that is, the image of the nuclear family – everywhere we looked. The church consciously sought to set this trend centuries ago, and it seems to be becoming increasingly important again today.» As the world becomes more complex, we are now returning home again and seeking out the familiar, simple and homely things in life.
«Theodor Zwinger suggested that a specific song triggered the disease in Swiss soldiers and drove them to desertion»
Mr. Walker believes that this could represent an opportunity for the family and, of course, family-run companies. Just as young men are much more committed to fatherhood than even their fathers and grandfathers were, they are equally dedicated to the concept of Heimat. While Heimat previously referred to the place where you were born and grew up, the term has now become much broader and more subjective. Today, we understand Heimat to mean the sense of belonging, the feeling of being at home. This means it is also possible to find a second or even a third Heimat. Most of the time, we only realize what we had once we have left our Heimat.
In this context, it is interesting to take a look at the concept of homesickness. Scientists in the 17th century considered homesickness to be a typically Swiss affliction. Basel physician Theodor Zwinger (1658-1724) even suggested that a specific song triggered the disease in Swiss soldiers and drove them to desertion. As a result, Swiss soldiers on French military service were banned from singing these traditional herdsmen’s songs on pain of the death penalty. The longing for Heimat is actually quite beautiful. The desire to go back to where you feel at ease and at home is understandable.
«This Swissness can promote a sense of home»
In times of global crisis, the longing for Heimat is expressed in a strong sense of Swissness. As a brand, Swissness is synonymous with long-standing tradition and exceptional quality. In 2017, the criteria that must be fulfilled in order for a product to be labeled as «Swiss made» were defined. This Swissness can promote a sense of home. We feel a little of that Heimat whenever we see a Toblerone on our travels abroad. Swissness can also describe positive characteristics for which the Swiss are famous, such as punctuality or the willingness to volunteer. Although Swissness might sound a little corny, it can nevertheless play an important part in our feeling of Heimat.
The Swiss are often asked why Swiss banking is famous around the world. There are several reasons for this. Swiss banking has developed steadily and continuously over several centuries. It is based on traditional values and, most importantly, on a well-functioning democracy that is globally unique in this form. Swiss banking also benefits from the country's strong reputation around the world for tourism, luxury goods and commerce. Who doesn’t know of Switzerland’s famous watch industry, chocolate production or picture-perfect landscapes?
«After all, a lighthouse doesn’t have to be big – it just has to be bright»
The Swiss financial industry goes hand-in-hand with many other industries and showcases the excellence of the entire nation. Switzerland is also among the best in the world when it comes to corporate governance, taxation and the labor market. All of this contributes to the country’s strong, positive image. It is no wonder, then, that Switzerland has established itself as an internationally recognized hub for outstanding banking services. After all, a lighthouse doesn’t have to be big – it just has to be bright!
Michael Welti is Head Zurich and Managing Director – Wealth Management at Reyl & Cie.
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