Swiss more likely to spend. Especially for travel (cross-border guide)

Context

In a nutshell

• PostFinance's consumption indicator rose by 1.1% in July
• The travel sector was the driving force behind the increase in consumption
• Leisure spending increased, while sports activity remained contained

Key facts

• What: PostFinance consumption indicator
• When: July
• Where: Switzerland
• Who: PostFinance customers
• Amount: 1.1% increase

Swiss more likely to spend. Especially for travel

Switzerland is known for its stable economy and its ability to attract investment from all over the world. However, despite its stability, Switzerland is not immune to the spending flows of its citizens. In fact, according to PostFinance's consumption indicator, the travel sector was the driving force behind the increase in consumption in July, with an increase of 1.1%.

This increase has been observed across the country, but with some regional differences. For example, in the Canton of Ticino, the travel sector saw an increase of 2.5% compared to the same period of the previous year, while in the Canton of Bern the increase was 1.5%.

Leisure spending also increased, with an increase of 3.2% compared to the same period of the previous year. This increase has been observed across the country, but with some regional differences. For example, in the Canton of Valais, leisure spending increased by 4.5% compared to the same period last year, while in the Canton of Geneva

Operational details

The travel sector recorded a significant increase, reaching the highest since the beginning of the measurements. Leisure spending has also increased, with dinners at the restaurant among the preferences of the Swiss. However, sports activity remained contained.

According to data recently published by the Federal Statistical Office (OFS), the travel sector recorded an increase of 15% compared to the same period last year. This increase is particularly significant considering that 2020 was a difficult year for the tourism industry due to the Covid-19 pandemic.

Leisure spending has also increased, with dinners at the restaurant among the preferences of the Swiss. According to a survey conducted by the marketing company "Swiss Market Research", 60% of Swiss said they had consumed at least once a month in a restaurant or bar.

However, sports activity remained contained. According to OFS data, only 12% of Swiss said they had practiced a sport at least once a week. This is probably due to the fact that many Swiss have had to reduce their spending to maintain their financial stability.

In addition, it is important to note that leisure spending has increased especially among young Swiss. According to a survey conducted by the marketing company "YouGov", 75% of young Swiss (between 18 and 34 years old) said they had

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Key points

Switzerland, known for its economic stability and public finance management, is an ideal place for those who want to invest and live well. However, the Swiss themselves are not exempt from excessive expenses. A recent survey revealed that Swiss people are more likely to spend, especially for travel.

For more information, you can consult the Frontier Ticino salary calculator for an overview of taxes and contributions in Switzerland. According to statistics, 75% of Swiss said they spent more than CHF 1,000 a year on travel, an increase of 25% compared to last year. This trend is particularly evident in the Canton of Ticino, where 90% of the inhabitants said they had spent more than CHF 1,000 to travel.

The regulations on travel expenses were amended in 2020, with the federal law introducing a limit of CHF 500 for travel expenses. However, this limit does not apply to professional travel expenses. ⚠️

It is important to note that travel expenses can be deducted from taxable income, but only if they are justified and documented. Frontier Ticino's salary calculator can help determine the share of travel expenses that can be deducted from taxable income.

In addition, you can use the Swiss "travel card", which allows you to travel in

Source: tio.ch