A recent parliamentary vote on whether to issue a formal request to the Federal Council, Switzerland’s executive, to reopen restaurants on 22 March 2021, found a majority of 97 to 90, according to Le Matin. The main parties supporting the demand were the Swiss People’s Party (UDC/SVP) and the PLR (FDP). The Socialist and Green […]
Low-income households had lower Covid-19 rates but suffered worse economically
The economic impact of the Covid-19 pandemic was unequal, hitting low-income households far harder than those on high incomes, according to a study published by the KOF Swiss Economic Institute at ETH Zurich. Infection rates rise with incomeMore people in the higher income range reported being infected with Covid-19 than those in lower income groups. […]
Record fall in Swiss hotel occupancy in 2020
In 2020, the number of overnight stays in Swiss hotels fell by 40% to 23.7 million, a fall of 15.8 million nights compared to 2019. The fall, driven by Covid-19, is the largest fall in overnight stays in Switzerland since the end of the 1950s, according to Switzerland’s Federal Statistical Office. Plummeting hotel stays were […]
Sharp rise in Swiss trade
Swiss trade rose sharply in January 2021. However, one industry dominated and masked falls in other sectors. After falling in December 2020, seasonally adjusted Swiss exports rose 5.4% to CHF 18.9 billion in January 2021, according to recently published figures. In addition, imports were up 3.3% to CHF 15.3 billion. 90% of the rise in […]
Swiss unemployment jumps exceeding EU rate in Lake Geneva region
The rate of unemployment in Switzerland in the 4th quarter of 2020 was 4.9%, up from 3.9% in the 4th quarter of 2019. The same figures for the EU were 6.6% (Q4 2109) and 7.5% (Q4 2020). Unemployment rates were highest among those aged 15-24 (7.3%) and 25-39 (5.4%). Those aged 40-54 (4.6%) and 55-64 […]
Using Swiss tax money to promote meat should stop, argue environmentalists
Every year, Swiss tax payers contribute CHF 5.4 million to the promotion and marketing of Swiss meat. The money is paid to Proviande, a meat industry association, and it is used to promote and market meat produced in Switzerland. For environmentalists, using public funds to promote and advertise an environmentally damaging product makes no sense. […]
Swiss shares can now be traded again in London
On 1 July 2019, the EU withdrew stock market equivalence for equity securities listed on the Swiss stock exchange. Since then it has not been possible to trade Swiss-listed shares in the EU. The loss of EU financial market equivalence occurred while Switzerland was haggling with Brussels over a framework agreement aimed at replacing Switzerland’s […]
Vaccine delays costing Switzerland up to 100 million francs a day
A recent study by Swiss National COVID-19 Science Task Force calculates that vaccination delays are reducing Switzerland’s national output (GDP) by between CHF 50 – 100 million per day, according to RTS. Marius Brülhart, an economics professor, told the broadcaster that vaccinating as fast as possible is important not only from a health stand point […]
6 billion franc Swiss National Bank payment after new agreement
Switzerland’s Federal Department of Finance (FDF) and the Swiss National Bank (SNB), Switzerland’s central bank, have signed a new agreement on how SNB profits can be distributed. The new agreement, which applies until 2025, allows for the SNB to make an annual payment of up to CHF 6 billion to the government, should central bank […]
Swiss retail sales up in 2020 despite pandemic
Despite on and off closures of Swiss retailers last year, total 2020 retail sales figures rose by 0.1% compared to 2019. Switzerland’s backdrop of negative inflation, meant real total year-on-year retail sales rose by 0.8%. However, headline sales numbers masks significant variations by retail sector. While e-commerce (+14.1%), sales of technology (+13.8%) and food, drink […]
