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Swiss hotel stays rise 0.6% in July as domestic demand offsets Asian slowdown

Domestic travelers drove a 4.1% rise in Swiss hotel stays, while foreign arrivals fell 2.3% amid declines from Asia and the Gulf. July marked the first monthly gain after four straight declines.

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Sophie Laurent · FX & Rates Desk · 25 Aug 2026 · 00:17 · 1 min read
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Swiss hotel stays rise 0.6% in July as domestic demand offsets Asian slowdown

The Swiss hotel sector recorded a marginal increase in overnight stays in July, as domestic demand offset a decline in international visitors. According to the second estimate from the Federal Statistical Office (FSO), the number of overnight stays rose 0.6% year-over-year to 4.1 million, following four consecutive months of declines.

Domestic travelers accounted for the majority of the increase, with Swiss guest nights up 4.1%. In contrast, foreign arrivals fell 2.3%, driven by significant reductions from key Asian markets. Overnight stays from Indian tourists dropped 16.8%, while those from Gulf states and China declined 11.4% and 10.6%, respectively. Demand from the U.S. remained broadly stable, with a slight increase of 0.2%.

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European markets showed mixed results. Germany, the Netherlands, and France posted gains of 5.3%, 5.2%, and 2.3%, respectively. However, the UK saw a sharp decline of 21.8%, while Italy recorded a 2.1% decrease. The overall trend for the first half of 2025 was negative, with overnight stays falling 0.7% to 20.3 million compared with the same period last year.

The FSO is scheduled to release the final July figures on September 4. The July uptick provides a tentative rebound after a challenging first half, though achieving the record levels of 2024 will require a strong second half.

This article was produced with AI assistance and edited by a Finance Review Daily journalist.
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Written by
Sophie Laurent
FX & Rates Desk

Sophie covers currency markets and central bank policy across Europe, with a focus on how rate decisions ripple through FX pairs. She has been tracking the ECB's policy path since the start of the current easing cycle.

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