Published on
October 28, 2025
According to BAK Economics, Swiss tourism will see moderate growth for winter tourism 2025/26, with a small increase in overnight stays projected for the winter season (November to April). During that time, the winter season tourism will tend to still get steady streams of tourists, however, the predicted growth will be more subdued growth than in past seasons. The report states the predicted growth overnight stays will be approximately 0.9%, totalling 18.7 million stays, which is a small increase from last winter’s 2.8% increase which is last winter season’s increase for overnight stays 18.7 million stays.
The predicted growth in overnight stays is mostly likely due to tourism outlook with multiple geo-economic and geo-political factors, and variables to be expected for both domestic and international tourism markets. Considering that the demand from the US and some regions of Asia will be more substantially weaker for travel in the winter season, regional tourism within Switzerland will still be assuming to be more resilient.
Domestic Tourism Remains Stable Despite Economic Uncertainty
For the Swiss domestic tourism market, demand remains relatively strong, with an anticipated 0.5% increase, resulting in 9.4 million overnight stays by Swiss nationals. This steady demand comes despite broader economic concerns, including slight rises in unemployment and a weakening economy. The stability in domestic demand is underpinned by factors such as price stability and slightly improving consumer sentiment, providing a sense of confidence for Swiss travelers looking to enjoy winter getaways within their own country.
In the face of these economic challenges, Swiss residents are still expected to allocate travel budgets for winter tourism. The affordability of domestic travel, combined with an improving outlook for discretionary spending, will continue to support the demand for Swiss ski resorts, wellness tourism, and other winter activities.
Europe’s Stable Performance in Swiss Tourism
Looking at international travel, Europe’s demand for Swiss tourism has remained “surprisingly robust” despite economic challenges. The weaker global economy and ongoing geopolitical tensions haven’t diminished the appeal of Switzerland as a destination within Europe. As a result, BAK Economics expects a 0.9% increase in European visitors, resulting in 5.5 million overnight stays from European tourists.
The strength of the euro exchange rate and steady interest rates have played a role in supporting travel to Switzerland from European countries. As the tourism market continues to adapt to changing global conditions, European travelers remain a cornerstone of Switzerland’s tourism market, particularly for short-term stays and weekend getaways.
US Market Faces Slowdown Due to Trade Policies
The US market, traditionally one of the strongest contributors to Switzerland’s international tourism growth, is facing a slowdown in demand this winter. For the first time since 2021, the Swiss tourism industry expects growth from US tourists to fall below double digits. Several factors are contributing to this trend, notably the weaker US dollar and the impact of US trade policies under former President Donald Trump, which have led to higher import prices and reduced consumer confidence.
Despite these challenges, US tourism to Switzerland is expected to grow by 1.5%, with approximately 1.2 million overnight stays. US tourists are known to be less price-sensitive than those from other countries, which may help mitigate the negative effects of currency fluctuations. However, the overall growth is expected to be modest compared to previous years, and the continued effects of US tariffs could dampen future travel trends, especially for long-haul destinations like Switzerland.
Asia’s Subdued Growth and Post-COVID Recovery
Tourism from Asia is also expected to show signs of growth, but at a more subdued pace compared to pre-pandemic levels. Despite increasing demand from countries like China and India, Asian tourists are still below pre-COVID levels, with some countries lagging in recovery. For example, China is expected to see a 4.2% increase, with 297,000 overnight stays, while India’s growth will be slower at 2%, reaching 212,000 overnight stays. The rest of Asia is expected to see only a small increase of 0.4% to 693,000 overnight stays.
While demand from Asia is growing, the recovery has been uneven, with some countries recovering faster than others. The slower-than-expected return of Chinese and Southeast Asian tourists to Switzerland could be attributed to lingering travel hesitancy and the delayed return of international travel to pre-pandemic levels. Nevertheless, Switzerland remains a desirable destination for travelers from these regions, especially those seeking high-end experiences, outdoor activities, and cultural exploration.
Shifting Long-Distance Markets and Future Tourism Trends
Looking ahead, BAK Economics anticipates a longer-term structural shift in long-distance tourism markets. While the USA, China, and India have been major growth drivers in the past, new emerging markets such as Australia, Canada, Brazil, and Mexico are expected to gain importance in the coming years. This diversification of source markets is likely to bring new opportunities for Swiss tourism, though it will also complicate demand patterns as tourism flows become more spread out and varied.
The shift in long-distance travel patterns suggests that Switzerland may see changes in the timing of peak tourism periods, with demand potentially spreading more evenly throughout the year. This could help reduce seasonal fluctuations and make tourism more sustainable in the long term.
The Outlook for the Summer 2026 Season
Looking beyond this winter, BAK Economics expects a further slowdown in growth, particularly in summer 2026. US trade policies and the impact of tariffs are anticipated to intensify, affecting travel behavior, particularly in North America and Europe. The rising cost of international travel, combined with lower consumer confidence, could dampen travel demand, leading to a decline in bookings.
As the global tourism market continues to evolve, the tourism industry in Switzerland will need to remain adaptable to these changes. Diversifying its markets and offering unique, high-quality experiences will be key to maintaining growth and attracting a broader range of international visitors.
Switzerland’s Success in Summer 2025
Despite the challenges facing winter tourism, the 2025 summer season brought positive results for Switzerland’s tourism sector. The country saw a record 25 million overnight stays, supported by large-scale events such as the European Women’s Football Championship and the Eurovision Song Contest in Basel. These major events provided a significant boost to tourism, attracting visitors from across Europe and beyond.
The success of the summer season demonstrates that Switzerland remains a highly attractive destination, particularly for travelers seeking cultural events, outdoor activities, and world-class hospitality.
Swiss Tourism Faces Moderate Growth with Varied Demand Patterns
Though winter tourism in Switzerland may see only modest increases in 2025/26, continued success is likely. There may be challenges such as a recovery in trade from the US, Asian markets, and the Alpine winter markets; however, stable demand from Europe, the perennial tourism pull of Switzerland, and relatively weaker winter tourism competition in Europe give a forecast of continued success. As globalization increases, so will the need to diversify the tourism products and services to maintain the competitive edge.
