BERN: The number of overnights stays in Swiss hotels for the month of March has dropped by 7.4% compared to the year before. The slump is largely due to fewer European tourists opting to spend their holidays in the country.
According the Federal Statistical Office, the decrease in overnights stays by European tourists was almost twice the average decline, at an alarming 14.5%. Germans were responsible for the biggest chunk of no shows in terms of volume, with 78,000 fewer overnight stays.
This is the second month of tourism statistics since the Swiss National Bank (SNB) dropped the CHF1.20 ($1.32) peg to the euro that sent the value of the Swiss franc soaring against the euro. Overnight, Swiss holiday destinations became 15% dearer for guests from European countries. Since then, those in the tourism industry have been bracing themselves for the impact on their bottom lines.
