Switzerland, known for its economic strength and high standard of living among its residents, is an attractive source market for travel providers worldwide. Despite the allure of its own beautiful landscapes, Swiss citizens are increasingly drawn to travel abroad following the end of the pandemic. With generous vacation budgets and a strong interest in exploration, they represent a coveted target group. In the following, we take a closer look at Swiss travel behaviour in 2024 and what tourism professionals should consider to engage this market effectively.
Swiss Spending Habits
According to a recent study by HelloSafe, a Swiss financial products comparison portal, Swiss households have planned an average summer vacation budget of CHF 4,041 for 2024, marking a 21.1% increase from the previous year and surpassing European averages. Swiss travellers also intend to vacation longer, averaging 2.3 weeks compared to the European norm of 2 weeks. This higher spending trend underscores Switzerland’s strong economic standing and its prioritisation of leisure and travel.
The Global Wealth report by Credit Suisse and UBS in 2023 highlighted that each adult Swiss citizen had an average wealth exceeding $685,000 in 2022, including financial assets and real estate. The country is home to 1.1-million-dollar millionaires, whereas in Germany, a country nearly ten times larger in terms of population than Switzerland, there were “only” 2.6 million millionaires in 2022. However, there is a distinct concentration of wealth, notably around areas like Lake Zurich, Bern, Lake Geneva, Basel, Lake Constance, and Ticino.
Reasons Swiss Residents Travel
Destinations of Choice for Swiss Residents
In terms of destinations, according to the HelloSafe study, 55% of Swiss travellers plan to go abroad in 2024, with Italy, France, and Spain ranking highest. Conversely, only 18% intend to vacation domestically, the lowest rate in Europe. Furthermore, thanks to the strong Swiss franc, vacations are currently particularly affordable for people from Switzerland in many countries. Especially in Asia, Australia, and Oceania, Swiss travelers spent significantly more money last year, as indicated by a recent analysis by the Swiss financial services provider Swiss Bankers who analyzed their clients card expenditures in 2023. Distant destinations were gaining in popularity. Swiss travelers spent significantly more money in Asia compared to the 2022. The absolute trend destination was Japan, with the largest increase of 115 percent in travel expenditures. Most frequently, Swiss tourists used their travel funds, for shopping and local expenditures worldwide. Following this were expenses for hotels, flights, and transportation, and expenditures for restaurants.
Swiss Approaches to Travel
Swiss travellers exhibit a distinct approach to planning and booking vacations. A representative survey conducted by the market research institute Marketagent in German-speaking and Western Switzerland in June 2024 revealed that 53% of Swiss people prefer to spend their summer holidays at new, unfamiliar destinations, while only one-third travel to the same place. According to the survey, the biggest influence on the choice of holiday destination comes from family, friends, and acquaintances, mentioned as the most important decision factor by 66% of respondents.
According to a study published by Hotelplan, a leading Swiss tour operator, in October 2023, Swiss travelers primarily use online search engines, recommendations from acquaintances, and travel agencies for travel planning and research. While younger generations favour Instagram and TikTok for travel planning, traditional media like TV, print, and radio also play significant roles. Preferences in booking vary, with most Swiss opting to book travel and accommodation separately. Trustworthiness and good brand reviews are critical factors in selecting travel providers.
However, travel behaviours across Switzerland differ by linguistic regions. German-speaking Swiss, averaging 3.0 trips per year, show the highest propensity for travel, often preferring package holidays. In contrast, French-speaking Swiss frequently book only travel components, preferring to stay with friends. Residents of Ticino and Romandie prioritise pricing, with promotions and discounts influencing their travel decisions more significantly than other Swiss regions.
In a survey by Allianz Insurance conducted in June and July 2023, 68% of Swiss travelers indicated they book directly with the provider, while 35% booked online through travel agencies or tour operators. Less than a quarter of the respondents chose the traditional travel agency.
How Should Travel Providers Approach the Swiss Market?
- Creating Exclusive Experiences & Striking a Balance between Relaxation and Discovery: Swiss travelers, particularly Millennials, appreciate intangible luxury goods and value unique experiences and personal relaxation, including opportunities for digital detox. Therefore, travel providers should develop exclusive and tailored offerings that promote both relaxation and the exploration of new experiences such as wellness, culture, and adventure.
- Targeted Marketing Strategies: Given the varied travel habits across Switzerland’s different linguistic regions, a segmented marketing strategy is crucial. Package tours are appealing to German-speaking Swiss, while French-speaking Swiss prefer individual travel components. Promotions and discounts should be emphasized, especially in Ticino and Romandy.
- Utilizing Digital and Traditional Marketing Channels: Swiss travelers utilize a mix of digital and traditional media for travel planning. While younger generations favor Instagram and TikTok, television, print, and radio remain important sources of information. Travel providers should employ a diverse marketing strategy that effectively integrates both channels.
- Trust and Reviews: Trust and positive customer reviews are crucial for Swiss travelers. Therefore, travel providers should communicate transparently, offer excellent customer service, and actively engage on review platforms and social media.
- Attractive Long-Distance Destinations and Cost Efficiency: Thanks to the strong Swiss Franc, international travel is particularly affordable for Swiss travelers. Destinations like Italy, France, Spain, and more distant locales such as Japan are highly popular. Providers should offer attractive packages emphasizing value for money and incentives for extended stays.
By considering these aspects, travel providers can effectively meet the needs and preferences of the Swiss market and position themselves as the preferred choice for this travel-savvy and affluent demographic
Sources:
Allianz Partners | Travel Study 2023 (2023);
BrandTrust Study | Millennials and Their Relationship with Luxury (2019);
Federal Statistical Office | Travelling of the Swiss resident population 2022 (2023);
Global Wealth report by Credit Suisse/ UBS (2023);
Hellosafe.ch | Summer holiday study (2024);
Hotelplan Group | Market Study Switzerland (2023);
Statista | Travel Behavior of the Swiss (2023);
Swiss Bankers | Analysis of transactions with the Swiss Bankers travel card (2024)
Picture by Arnel Hasanovic on Unsplash
