Overnight stays in Switzerland fall 3.5 percent

Overnight stays in Swiss hotels fell 3.5 percent in October, extending a decline as the strong Swiss franc makes holidays more expensive for European visitors. A 30 percent rise in stays by tourists from China and a fifth more stays by South Koreans could not offset falls in visitors from Europe - led by Germany - and the Gulf states, Japan and Russia, data from the federal statistics office showed on Monday.
For the May-to-October summer season, the hotel industry registered 20 million overnight stays, down 0.7 percent versus the year-earlier period. Foreign demand eased 0.8 percent to 11.3 million, while domestic demand dipped 0.5 percent to 8.7 million. "The Swiss franc's strength against the euro after the Swiss National Bank removed the minimum rate (for the euro at 1.20 francs in January) may have had an effect on these results," the statistics office said.