Businesses struggle to adapt to strong Swiss franc
- 10 years ago
Snow, sun, and tourists may be a regular scene for most ski resorts at this time of the year. But in Switzerland, the last month has been hard on the winter sports industry due to a brutal rise of the Swiss franc against the euro.
On January 15, the Swiss central bank stopped maintaining a currency peg of 1.20 francs to the euro and that has sent shockwaves through the economy.
Tourists heading to Swiss ski resorts find they’re twice as expensive as competitors in the euro zone. But the small Grächen ski resort has found a solution
“The tourism industry has been hit very hard. So we made an offer for our overseas customers from France, Germany, the Netherlands, Belgium and the like. We introduced a fixed rate of one euro for 1 franc 35,” said
Berno Stoffel, CEO of AG Grächen Tourism Company.
“There have been no cancellations. On the contrary, for the end of the season period, we’ve maintained strong bookings. People benefit from the lower rate and they continue to visit.”
M
On January 15, the Swiss central bank stopped maintaining a currency peg of 1.20 francs to the euro and that has sent shockwaves through the economy.
Tourists heading to Swiss ski resorts find they’re twice as expensive as competitors in the euro zone. But the small Grächen ski resort has found a solution
“The tourism industry has been hit very hard. So we made an offer for our overseas customers from France, Germany, the Netherlands, Belgium and the like. We introduced a fixed rate of one euro for 1 franc 35,” said
Berno Stoffel, CEO of AG Grächen Tourism Company.
“There have been no cancellations. On the contrary, for the end of the season period, we’ve maintained strong bookings. People benefit from the lower rate and they continue to visit.”
M