The Swiss shop abroad – thanks to the Swiss Franc
Full shopping carts and people eager to shop can be seen everywhere. In addition to the lower prices, the Swiss also get a VAT refund, which improves their mood for shopping even more.
While shopping streets in Switzerland seem very inanimate and deserted in the currently poor season, city centres and shopping centres in the neighbouring countries are bursting at the seams. 35% of all shoppers at the Messepark in Dornbirn on Saturdays are Swiss. Furthermore, one can notice a distinct change in buying behaviour of the Swiss, compared to before the appreciation. Consumers shop more than usually, especially when it comes to premium products. Moreover, they mostly buy things just because of the low prices, rather than out of necessity. In the matter of tourism, trends are quite similar as it is the perfect moment to book a vacation abroad.
This phenomenon also has its drawback. Stores in Switzerland are deserted and a lot of jobs are jeopardized. For Austria, Germany, Italy and France however there is one huge benefit: revenues are increasing rapidly, if only temporarily. According to the latest appraisals by RegioData, approximately € 5.1 billion flow out of Switzerland to Germany, over € 1 billion to France, almost € 1 billion to Italy, and € 0.5 billion to Austria.