Many prestigious sports associations, including the International Olympic Committee (IOC), are based in Switzerland. According to a Sunday report by the SonntagsZeitung, their budgets are so large that they have the undesirable side-effect of producing irregularities in calculations of Swiss gross domestic product (GDP).
This content was published on
2 minutes
swissinfo.ch/ln
Português
pt
Rendas de jogos olímpicos distorcem o PIB da Suíça
The IOC, based in Lausanne, estimates that the income of this year’s Winter Olympics alone will be CHF2.2 billion ($2.4 billion). The Olympic Games revenue is automatically included in Swiss GDP statistics, despite being unconnected to the actual strength of the Swiss economy, the German-language newspaper found.
Since Switzerland is also home to the headquarters of world football governing body FIFA and the Union of European Football Associations, UEFA, the situation is even more pronounced in years when events such as the Football World Cup take place, as it will this summer in Russia.
No real benefit to the Swiss economy
More
More
Swiss poll finds strong opposition to 2026 Winter Games
This content was published on
Most Swiss oppose holding the Winter Olympics in western Switzerland in 2026, a newspaper survey has revealed.
Some experts believe that this creates problems for measuring the country’s actual GDP. Yngve Abrahamsen, head of economic forecasting at the Swiss Economic Institute KOFExternal link, told the SonntagsZeitung that, “sports events such as the Olympics Games and the Football World Cup generate cash flows in Switzerland, but they don’t affect the real economy because they don’t create jobs nor do they generate extra tax revenues”. Researchers have to rely on complicated approximation methods in order to attempt to measure and rectify these ‘mistakes’ in GDP caused by big sports events, Abrahamsen said.
Figures in even years too positive
In even years, when such international sporting events do take place, Switzerland’s economic growth figures look too good to be true, according to the numbers presented in the SonntagsZeitung. In 2016, for example, when both the Olympic Summer Games as well as the European Championship in football took place, it seemed as if the Swiss economy had grown by 1.4%, when in fact it grew only by 1.1%. The opposite happened in 2017, when no sporting events took place. Growth in the country didn’t slow down to 1%, as the statistics would have suggested, but actually accelerated to 1.3% compared to 2016.
The Swiss State Secretariat for Economic Affairs (SECO) published an analysis last autumn designed to improve the interpretation of the country’s GDP statistics.
Finance minister wants Swiss banks to hold more equity
This content was published on
Finance Minister Karin Keller-Sutter has repeated calls for banks and their holdings in subsidiaries abroad to hold more equity.
Telecoms sector kept Swiss competitions regulator busy in 2023
This content was published on
Last year, the Swiss Competition Commission (COMCO) conducted 27 investigations and initiated 17 preliminary investigations.
This content was published on
Although Swiss International Air Lines (SWISS) achieved higher revenue at the start of the year, it suffered a dip in profits.
40,000 signatures against animal testing in Switzerland
This content was published on
Switzerland should do away with “restrictive” animal testing and should become a model for innovative, effective, and pain-free scientific research.
More than 45,000 signatures in favour of federal funding for UNRWA
This content was published on
The Foreign Affairs Committee of the House of Representatives (FAC) is expected to decide on the funding of the UNRWA at the beginning of the week.
This content was published on
At the end of January 2024, 6,881 men and women were behind bars in Switzerland. Almost 95% of all places were occupied, the highest number since 2014.
Cases of psychological abuse of children increase in Switzerland
This content was published on
The number of cases of child abuse recorded in Swiss paediatric clinics rose to 2,097 in 2023, an all-time high, which is mainly due to improved recording.
Swiss Trade Unions bemoan ‘lost decade’ for people on lower incomes
This content was published on
While top salaries continue to rise, low and middle salaries are stagnating in real terms, according to a report published on Monday.
Storm in La Chaux-de-Fonds caused damage totalling CHF117 million
This content was published on
The storm in July 2024 left one dead and around 40 injured. Numerous trees were blown down and thousands of buildings were damaged - especially their roofs.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Swiss government backs Sion 2026 Olympic bid
This content was published on
The Swiss government pledged on Wednesday to throw its weight behind the Sion 2026 Winter Olympics bid, to the tune of almost CHF1 billion.
IOC president expresses hopes for Swiss Olympic bid
This content was published on
“The debate is just beginning”, the IOC head told Swiss Public Television RTS, just one day after an opinion poll published in the Swiss media revealed that only 36% of respondents supported the so-called Sion 2026 campaign for the southern Swiss canton of Valais. + Swiss poll finds strong opposition to 2026 Winter Games “It’s…
This content was published on
The Winter Olympic Games have opened in PyeongChang. South Korea. Swiss athletes were cheered on in freezing temperatures.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.