A survey published on 7 May 2020, suggests only 36% of Swiss support the government’s calendar for reopening the country after the Covid-19 shutdown. 23% think the plan to reopen is too slow, while 42% think it is fast or too fast. However, 60% said they had confidence in the government. The most controversial aspects […]
Swiss consumer sentiment at historic low, according to government survey
Consumer sentiment in Switzerland in April 2020 reached a historic low. The coronavirus has dampened expectations for general economic development and employment and the population is bracing itself for tough financial times, according to the survey. Swiss consumer sentiment fell from −9 points in January 2020 to −39 points in April 2020, a level well […]
Coronavirus: new rules for Switzerland’s restaurants
Restaurants in Switzerland will be able to reopen on Monday 11 May 2020. But they’ll need to follow strict rules that were published this week. The seven pages of detailed restaurant rules will make dining in the time of Covid-19 quite different to what we’re accustomed to. Rules put together by the industry and Switzerland’s […]
Unemployment up sharply in April in Switzerland
The unemployment rate in Switzerland rose to 3.3% in April 2020, up from 2.9% the month before, a rise of nearly 14%. By 30 April 2020, there were 153,413 people registered as unemployed at Switzerland’s regional placement offices. Young workers were the hardest hit. Unemployment among those aged 15 to 24 rose by 18.1% compared […]
Coronavirus: Swiss schools and other establishments set to reopen
On 29 April 2020, Switzerland’s government announced plans to allow schools and other establishments to reopen on Monday 11 May 2020. From 11 May 2020, shops, restaurants, markets, museums, libraries, primary and lower secondary schools and sports training centres will be allowed to reopen. In addition, public transport will operate according to the standard timetable, […]
Swiss GDP set for worst fall in decades
A team of economic experts working for the Swiss government forecasts a 6.7% fall in GDP and unemployment to rise to 3.9% in Switzerland in 2020. If these predictions prove right, it will be the biggest slump in economic activity since 1975. The Covid-19 outbreak has forced many companies in hospitality, retail, culture and leisure […]
Swiss National Bank unlikely to resort to helicopter money
On 26 March 2020, the Swiss National Bank (SNB) announced it would lend unlimited money to banks to shore up the economy. Its COVID-19 refinancing facility (CRF), is aimed at strengthening the supply of credit to the Swiss economy by providing the banking system with additional liquidity. The SNB said there would be no upper […]
Coronavirus: Swiss government presents shutdown exit plan
On 16 April 2020, the Swiss government presented its plan for emerging from Switzerland’s coronavirus shutdown. Over the last few days the number of recorded new daily infections has been far below the worst days experienced since the outbreak began. In March 2020, daily new cases regularly exceed 1,000, occasionally exceeding 1,300. Over the last […]
Coronavirus: Switzerland extends lockdown until 26 April
On 8 April 2020, Switzerland’s government decided to extend the country’s lockdown measures for a further week. In a press release the Federal Council said the measures would be extended for another week and then possibly progressively loosened before the end of April. The measures have proved to be effective with the spread of the […]
Coronavirus: Swiss tourism expected to lose 6.4 billion francs
Tourism is one of the sectors hardest hit by the coronavirus and the response to it. Figures from a study by HES-SO Valais published by the newspaper Blick suggest the industry will see revenues in Switzerland drop 18%, or CHF 6.4 billion, in 2020. The hotel sector alone, which generates around CHF 10 billion annually, […]
