1. Céline Reusser and Gabrielle Pasche

2. Incoming in Switzerland  Tourism = important source of income  19 th for the best destinations  Major employer  Most competitive travel and tourism sector  Key sources of income  Positive tourism balance

3. The role of exchange rate  Drop of the euro  Swiss franc too high in relation to the euro  More import than export  September 2011 peg the CHF at 1.20 to the euro  More investment in Swiss banks  Flood of incoming euros  Selling euros for other currencies

4. Possible solutions  Accept the euro in Switzerland  Focus on Asia/China  Marketing the attraction of Swiss cities

5. Do you have any questions?

6. Sources  http://www.swissinfo.ch/eng/country_informatio n/country_profile/Tourism.html?cid=5764048 http://www.swissinfo.ch/eng/country_informatio n/country_profile/Tourism.html?cid=5764048  http://www.euromonitor.com/travel-and- tourism-in-switzerland/report http://www.euromonitor.com/travel-and- tourism-in-switzerland/report  http://www.snb.ch/de/mmr/speeches/id/ref_20 020211_nbl/source/ref_20020211_nbl.de.pdf http://www.snb.ch/de/mmr/speeches/id/ref_20 020211_nbl/source/ref_20020211_nbl.de.pdf  http://www.smartmoney.com/invest/currencies/ the-dangers-of-switzerlands-currency-strategy- 1339602019800/ http://www.smartmoney.com/invest/currencies/ the-dangers-of-switzerlands-currency-strategy- 1339602019800/  http://www.swissworld.org/en/economy/key_se ctors/tourism/ http://www.swissworld.org/en/economy/key_se ctors/tourism/