SWITZERLAND INCOMING

TOURISM AND THE ROLE OF

EXCHANGE RATES

Anne Pittet, Alexandre Clavel, Julia & Daniel Lopes

Table of contents Switzerland incoming tourism

Number of arrivalsReceiptsEvolution of arrivals by region

Evolution of the exchange rateEvolution of overnights

SNB’s initiative Possible Forecast Conclusion Sources

Number of arrivals

Receipts (in US $)

Evolution of arrivals by region

Evolution of the exchange rate

Evolution of overnights

€1 at CHF 1.20?

Possible forecast

Rate of unemployment

Strengthening of the Swiss Franc

Euroization of Switzerland

Conclusion

Increase in Swiss incoming tourism

European Union in crisis

Credibility of BNS

Strong link between between tourism and exchange rates

Sources http://www.indexmundi.com/facts/switzerland/international-tour

ism http://www.seco.admin.ch/themen/00476/00508/index.html?la

ng=fr http://www.contrepoints.org/2013/01/16/111512-euro-franc-sui

sse-quand-la-bulle-eclatera

http://www.bilan.ch/argent-finances-exclusif/pourquoi-la-bns-va-gagner-son-pari-sur-leuro

http://tradervox.com/fundamental-analysis/060912/Euro-Strengthens-Against-Swiss-Franc

http://www.oecd.org/fr/suisse/etudeeconomiquedelasuisse2011.htm

Jean-Philippe Clavel, P.h.D in Law and Economics, teacher http://www.oanda.com/lang/fr/currency/historical-rates/ OFS, La statistique suisse du tourisme 2012, 2013, Neuchâtel