Franc remains tourist industry’s Achilles heel
The strength of the Swiss franc will have negative consequences for the Swiss tourist industry this summer.
BAK Basel Economics is forecasting a drop in hotel bookings of 1.3 per cent between May and October compared with the same period last year.
The decrease follows a disappointing winter season when bookings at hotels across the country were down about one per cent compared with 2009/10. However, ski resorts suffered the most, experiencing a four per cent drop.
The mountain resorts not only had a strong franc working against them, but also less snow than in the past few winters and often spring-like weather.
But BAK Basel Economics also saw reason for optimism in the coming months.
In its report published on Friday it said that high consumer confidence in Switzerland would lead to more Swiss holidaying at home, and that the economies in key markets like Germany and the United States were “developing dynamically”.
The economic research and consultancy company said demand should increase again in 2012.
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