As people across the country continue to grapple with high living costs, a new study from Comparis has revealed that the cost of travelling to and from Switzerland has increased significantly in the last half-decade. They found that flights out of Swiss airports are a third more expensive now than they were before the COVID pandemic.
According to the report, those hoping to jet off to sunnier climes this summer will have to pay a pretty penny, with Comparis revealing that the average cost of flights out of Switzerland has risen by 33,3 percent in the last five years. They found that the cost of travelling generally - hotels, flights, etc - has risen far faster than annual inflation, a phenomenon that has accelerated since the Russian invasion of Ukraine in 2022.
Writing in the report, Comparis expert Adi Kolecic noted that while “passenger numbers are about the same as before the pandemic”, airlines cannot keep up with demand and expand services due to a shortage of workers. Supply chain issues related to the delivery of new aircraft, and a desire by travel firms to recoup the losses incurred during COVID, were also cited as some of the key reasons for rising prices.
The report follows a survey from the hoteliers association HotelliereSuisse, which revealed that around half of hotels across Swiss cities and cantons plan to raise their prices in 2024. Speaking to NZZ am Sonntag, association president Martin von Moos explained that the price rises could be blamed on rising demand, staff shortages and rising salaries brought about by attempts to attract more workers.
Luckily, there are signs that prices may be starting to fall. Comparis noted that the average cost of flying from Switzerland is 1,8 percent cheaper today compared to last year - though package holidays and hotel stays are 1,8 and 1,9 percent more expensive respectively.
There is also evidence to suggest that despite the higher prices, travellers are still ready to splash the cash on holidays this year: a recent survey commissioned by Mastercard found that 51 percent of people in Switzerland plan to spend more on vacations this year, with 55 percent planning to travel to new countries. Compared to people in other European nations, residents of the alpine nation were found to be more likely to try new experiences and attend wellness retreats.
Speaking to 20 Minuten, head of Mastercard Switzerland Daniela Massaro argued that “in recent years, the Swiss have often had to make difficult choices regarding their financial priorities. But the desire to have positive experiences remains intact.” With overall annual inflation now hovering between 1 and 1,4 percent, and the Swiss franc remaining strong, she predicted that “purchasing power is likely to increase again, which should keep spending on leisure at a high level.”
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