(07.06.2023) The tourism sector is experiencing a more favorable period than expected. The Swiss Federal Institute of Technology Zurich's KOF Economic Research Center predicts an increase of 1.2 million overnight stays (+5%) during the summer, the first since the beginning of the Covid pandemic.
Although the growth remains less vigorous than before the pandemic, the tourism situation seems encouraging. KOF expects a +10.5% increase in overnight stays for the entire 2023, representing a progression of +3.9 million overnight stays compared to 2022.
Strong domestic demand, along with the return of Chinese travelers, is expected to fuel the sector's activity throughout the summer season. Additionally, the Swiss tourism industry is starting to attract new markets. In March, the number of visitors from the Philippines (+210%), Malaysia (+208%), Thailand (+122%), and Singapore (+147%) significantly increased.
The resurgence of North American demand (+87%) during the winter season suggests a strong comeback of tourism from distant countries. However, the number of European travelers is expected to stabilize at last year's level, with a slight decrease of -1% compared to summer 2022.
The upcoming winter season is not expected to see the same level of growth as the previous one. KOF predicts a 100,000 overnight stay increase (+1%). Domestic tourism, on the other hand, is expected to decline (-4%) after an exceptional 2022-2023 season. However, the improvement in economic conditions in Europe is expected to lead to a return of guests from neighboring countries, especially Germany.
Last modification 07.06.2023
