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Swiss Insight

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Swiss Insight

The Swiss economy recovered strongly in 2010-11 having proved better insulated from the ravages of the financial crisis than its European neighbours but it could face testing times in 2013 as Switzerland’s key export market – the EU – still grapples with recession. This diverging trend is expected to continue with Swiss GDP growth estimated to reach 1.2% in 2013 compared to -0.3% for the Eurozone. In 2011 the rapid appreciation of the Swiss franc led the Swiss National Bank (SNB) to adopt an exchange-rate floor of CHF 1.20:€1. Prior to this move, not only were exports suffering but some residential property buyers considered that the franc’s strength negated the tax savings of relocating to Switzerland, many instead opted to rent.

Source : Knight Frank

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Keywords : Knight Frank