Switzerland's Federal Council and Parliament oppose the initiative, however, stating that an unconditional basic income would hit both the economy and the Swiss social security system by making it more attractive to stay out of work.
"This would exacerbate the existing labor and skills shortage in Switzerland," the government states on its website.
"Furthermore, considerable cutbacks or tax rises would be necessary to finance this basic income, which could not replace today's social security system entirely," it adds.
For Vincenzo Scarpetta, policy analyst at Open Europe, the desire for a basic income is not unique to Switzerland.
"It's true that the specific issue of a basic income has come up in several European countries, in my own, in Italy, because there are certain parties – the Five Star Movement, or Podemos in Spain – that were actually initially at least campaigning on the need to guarantee basic income to everyone," he told CNBC earlier this week.
"It's interesting that this kind of referendum is coming from Switzerland and not, for example, from the French Socialist Party," Scarpetta added. The vote has surprised many who traditionally see Switzerland as a conservative nation, and such a policy seemingly jars with the right-wing populist political party that currently holds a large slice of power within the government.