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Hotels in Switzerland Suffer From High Franc

News While international currency markets are in panic, Swiss franc remains one of the most reliable currencies in the world. However, the strength of franc makes trips in this country more expensive, and so the decreased number of tourists stays in the country. Such information has been published by Swiss Federal Statistical Office.

In July 2011 the number of overnight stays in swiss hotels by international visitors decreased by 4.0% and estimated 2.4 million of people. Such fall is mostly the result of two reasons – expensive franc comparing to euro, and rainy and cold summer.

The in-country tourism is also not in its best state as the number of Swiss tourists decreased as well in June and estimated 1.7 million (-2.7%).

The Swiss franc is internationally acknowledged as a “safe haven currency”. Starting from 2009 franc has become very popular among investors and this fact enables its growth. This August, when situation with US dollar was unclear, franc was up 25% against it and 20% up against euro comparing to the level of 2009.

However, the fall in the number of tourists for first 7 months of 2011 is not that negative – the decrease here estimates 0.8 percent or 21.6 million of visitors.

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