Swiss consumers upgrade as demand soars for luxury travel in the EurozoneThe abolition of a fixed exchange rate between the euro and the Swiss franc is already affecting the luxury travel market in Europe.
Luxury travel companies in Switzerland report increased demand for destinations in the Eurozone in the short time since the currency cap was lifted.
Swiss consumers are also looking for higher quality in their holidays. More Swiss consumers are considering booking luxury holidays in the Eurozone as the premium sector is now more affordable for Swiss salaries.
Peter Zombori, CEO of the largest European luxury travel platform MyPremiumEurope.com, has noticed “soaring demand” from Swiss consumers who want to book luxury holiday homes and 5* hotels outside Switzerland.
“The immediate increase in website traffic and the sharp rise in the number of booking requests made us all very surprised,” said Zombori.
Overall, the number of visitors to the website increased by 147% and the number of requests to book holiday increased by 90%, compared to the same period last year.
Zombori attributes the increase to Swiss consumers wanting to make the most of a strong Swiss franc by treating themselves to a luxury holiday they can now afford more easily.
Data from MyPremiumEurope.com shows a particular increase in interest in sunshine destinations.
Over the last week, the company’s website traffic volume and booking requests show that the most popular destinations for Swiss consumers are the South of France (Cote d’Azur), Italy (Tuscany Coast), Spain (Ibiza and Mallorca) and Croatia.
The company has already received some bookings for the summer, and reports that customer decisions appear to be made faster than usual.
"We suspect that customers want to pay and book the travel quickly in order to continue to benefit from the favorable exchange rate," says Zombori.