Swiss Journal of Economics and Statistics

, Volume 153, Issue 2, pp 123–165 | Cite as

How do Overnight Stays React to Exchange Rate Changes?

  • Christian Stettler
Open Access


This paper analyses the effect of a change in the real exchange rate on the number of overnight stays in Swiss hotels. It uses unique three-dimensional panel data on the monthly number of overnight stays by the visitor’s country of origin in 141 Swiss communities during the ten-year period from January 2005 to December 2014. We find low exchange rate elasticities of 0.2 for cities, but much higher elasticities of 1.4 for touristic communities. On the source market side, we find large exchange rate elasticities for German, Dutch, and Belgian visitors, while travellers from France and Italy are less price sensitive.


Real Exchange Rate Tourism Overnight Stays Swiss Franc Switzerland 


F14 F31 E52 Z31 


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Copyright information

© Swiss Society of Economics and Statistics 2017

Authors and Affiliations

  1. 1.Department of International Economics, The Graduate Institute of International and Development StudiesMaison de la Paix (Chemin Eugène-Rigot 2)GenevaSwitzerland
  2. 2.KOF Swiss Economic InstituteETH ZurichZurichSwitzerland

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