Swiss Bank Promises To Stop Inexorable Rise of The Franc
Swiss Bank Promises To Stop Inexorable Rise of The Franc
Published : 07-Sep-2011 09:10
An increasingly nervous Swiss tourism sector has had some relief as the Swiss National Bank has pledged to intervene to stop the Franc's value against the Euro going beyond 1.2 Francs to the Euro. At one point last month it had reached 1.1 Francs to the Euro as investors searched the world for a strong currency.
The result for Swiss skiing was that one of the Zermatt area lift passes (including Cervinia and a daily train ride to Tasch, so only really of use if you stay in Tasch) topped the world's most expensive ticket table at nearly GBP360 for a six day adult pass.
Almost every measure of Swiss skiing and tourism in general shows declines, often wiping out all growth over the past decade. 'Optional' items like ski school and dining out have both been particularly hard hit.
The British market is particularly under fire with at one point the value of the Franc against the pound up 40% on what it was 18 months ago.
But it's not all doom and gloom, the resorts and Swiss tourism as a whole are fighting back with Verbier one of the first to offer a swathe of deals including 50% off lift tickets up to Christmas.
Tour operators are also stepping in,
"We're just launching a 2-for-1 lift pass offer for almost all dates for Switzerland for this coming season." said Louise Newton of Inghams.
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