Where are incumbents still popular?

From my email, here is your Switzerland fact of the day:

The media is awash with stories about western countries incumbent parties losing elections in the last two years:

• https://www.semafor.com/article/11/08/2024/the-democrats-join-a-long-list-of-global-parties-wrecked-by-post-pandemic-backlash
• https://www.ft.com/content/e8ac09ea-c300-4249-af7d-109003afb893

The exception no one seems to remember: Switzerland. In the october 2023 election, 3 out of the 4 governing parties increased their vote share. And it wasn’t just parties that are formally in government but effectively act as an opposition: The right wing Swiss People’s Party won. The left wing Social Democrats one. And the moderate Centre party one. The losers: The centre right Liberal Party (in government) and two different green parties (both outside of government).

Possible cause: Low inflation (https://marginalrevolution.com/marginalrevolution/2022/10/the-polity-or-is-it-culture-that-is-swiss.html)?

From Johann C.