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The Swiss travel and tourism sector was adversely impacted by the global financial crisis, which caused a decline in tourism activity and expenditure in 2009. Although Eurozone economies weakened, Switzerland is expected to record stable growth in international arrivals over the forecast period. The strengthening of the Swiss franc is one of the key reasons for the growth in outbound travel. Capital investments in tourism rose during the review period, indeed in 2010, investment in tourism valued CHF15.8 billion (US$11.2 billion) and grew to CHF16.6 billion (US$13.3 billion) in 2012. In terms of its contribution to GDP, tourism plays a significant role in the Swiss economy. According to the WT&TC, the sector accounted for 8.0% of the nation’s GDP and 9.9% of its total employment rates in 2012.