New Consumer Goods market report from Timetric: "Travel and Tourism in Switzerland to 2017"

Boston, MA -- (SBWire) -- 07/10/2013 --The Swiss travel and tourism sector was adversely impacted by the global financial crisis, which caused a decline in tourism activity and expenditure in 2009. Although Eurozone economies weakened, Switzerland is expected to record stable growth in international arrivals over the forecast period. The strengthening of the Swiss franc is one of the key reasons for the growth in outbound travel. Capital investments in tourism rose during the review period, indeed in 2010, investment in tourism valued CHF15.8 billion (US$11.2 billion) and grew to CHF16.6 billion (US$13.3 billion) in 2012. In terms of its contribution to GDP, tourism plays a significant role in the Swiss economy. According to the WT&TC, the sector accounted for 8.0% of the nation's GDP and 9.9% of its total employment rates in 2012.

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Key Highlights

- Domestic tourist volumes increased from 8.1 million tourists in 2008 to 8.6 million in 2012, at a CAGR of 1.31% during the review period. Over the forecast period, volumes are anticipated to increase at a projected CAGR of 1.63%, to reach 9.3 million tourists by 2017. The key growth drivers are expected to be economic stability, rising levels of consumer confidence and government initiatives to increase domestic tourism. Over the forecast period domestic tourist expenditure is forecast to increase at a CAGR of 3.24%, to value CHF16.2 billion (US$17.3 billion) by 2017.
- Inbound tourism grew during the review period and recorded a CAGR of 0.15%, rising from 9.2 million tourists in 2008 to 9.3 million in 2012. The highest annual growth rate of 3.37% was recorded in 2010. Inbound tourist arrivals are expected to reach 10.6 million in 2017, expanding at a projected CAGR of 2.53%. The key drivers of this growth will be economic improvement in key European source markets, the strengthening of the Swiss franc, improved access to travel services at increasingly competitive prices and government efforts to promote Switzerland as a tourist destination.
- Full service airlines maintained the highest share of airline traffic in 2012, representative of 78.5% of Switzerland's total air traffic. The category represented 88.0% of the nation's total airline revenue. This trend is anticipated to continue over the forecast period. In 2017, full service carriers are expected to account for 78.3% of the total passengers and 88.3% of the total airline revenues.
- Switzerland's hospitality industry's total revenues declined at a CAGR of -2.51% during the review period, due in part to weak to economic conditions and the prevailing European debt crisis. However, the industry is expected to recover over the forecast period with total revenues expected to increase at a CAGR of 2.45%, to reach CHF6.2 billion (US$6.6 billion) by 2017.

Companies Mentioned in this Report: Swiss International Air Lines Ltd., Helvetic Airways AG, easyJet Switzerland S.A., Edelweiss Air AG, Belair Airlines AG, The Dolder Grand, Fairmount Le Montreux Palace, Beau-Rivage Palace, Four Seasons Hotel des Bergues Geneva, Grand Hotel Kempinski Geneva, Europcar Switzerland, Hertz AG, Sixt Leasing (Schweiz) AG, Budget Car Rental Switzerland, Avis Autovermietung AG, Tour 168 of Switzerland GmbH, Baumeler Reisen AG, Viajes Benitez Reisen AG, Swisstors GMBH, Trottomundo AG

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