Record summer in Basel: Tourism is booming despite global challenges!

Record summer in Basel: Tourism is booming despite global challenges!

The Swiss tourism industry is facing a record summer in 2024. According to current forecasts by BAK Economics economist Simon Flury, which were presented at a media conference, the number of overnight stays in Switzerland is on a steady growth path. In the period from May to October, the industry is expected to receive 24.9 million overnight stays, which corresponds to an increase of 2.0 percent compared to the previous year. Large-scale events such as the Eurovision Song Contest, the Women's European Championships and the Federal Wrestling and Gymnastics Festival, which will boost demand for overnight stays, will have a particularly strong driving effect.

In order to cope with the increased travel volume, SBB is planning to double the number of extra trains compared to normal times. The communications department highlighted that these measures are crucial to ensure guests have a smooth journey.

US market remains strong despite challenges

The US tourism market is also resilient. After an impressive increase of 15 percent last year, a further increase of 6 percent is expected for the 2025 summer season, despite the challenges of newly introduced tariffs. Loud Southeastern Switzerland Demand from the USA remains strong, which should be positive for the industry. However, former President Trump's trade policies are receiving attention as tariffs create uncertainty and challenges in the economy.

Like in a current one Article from Forbes Reportedly, the negative impact of these tariffs was highlighted by JPMorgan Chase CEO Jamie Dimon. He warns that the higher tariffs could fuel inflation in the short term and slow overall economic growth. These measures not only burden the current economic situation, but could also endanger the long-term growth of the US economy. Companies with international supply chains are particularly affected by these developments, which leads to a decline in competitiveness.

Political uncertainty and trading strategies

Political voices in the US are growing louder, with some Republican senators calling for more congressional influence over tariff policy. This political uncertainty could further threaten confidence in the US economy. The warning tones from financial experts like Bill Ackman and Larry Fink make it clear that time for concrete solutions is running out. The need for a balanced trade strategy that strengthens both the internal market and international relations is becoming increasingly clear. The combination of business concerns and political challenges could lead to an “economic nuclear winter” that could also destabilize the global economy.

In summary, the signs for the Swiss tourism sector in the coming summer are positive, while the backdrop of the US economy, particularly the impact of tariffs, paints a complex picture that presents both opportunities and significant risks.