Tuesday , May 11 2021
Home / le News / Swiss incomes could end up more than 1,700 francs lower due to Covid-19

Swiss incomes could end up more than 1,700 francs lower due to Covid-19

Summary:
Covid-19 is forecast to hit personal incomes by a total of around CHF 15 billion both this year and in 2021, according to the Basel-based research institute BAK Economics, reported Le Matin. © Bigpressphoto | Dreamstime.comSpread across Switzerland’s 8.6 million residents this comes out at around CHF 1,740 per person and CHF 2,830 per worker. BAK Economics expects significant declines in personal revenue in the form of lost salaries, lost freelance business and lower investment returns over the next two years because the economic impacts of the SARS-CoV-2 virus. The institute expects incomes to fall by around 2.5%. Those working in certain sectors will be hit harder. The hotel, tourism and passenger transport sectors will be hit the hardest. Those working in export sectors,

Topics:
Investec considers the following as important: , , ,

This could be interesting, too:

Investec writes Latest poll shows majority support for Swiss anti-pesticide votes

Investec writes Covid: new cases trend down with vaccine progress

Investec writes Swiss consumer sentiment nearly back to pre-crisis level

Investec writes Swiss consumer sentiment nearly back to pre-crisis level

Covid-19 is forecast to hit personal incomes by a total of around CHF 15 billion both this year and in 2021, according to the Basel-based research institute BAK Economics, reported Le Matin.

Swiss incomes could end up 1,700 francs lower due to Covid-19
© Bigpressphoto | Dreamstime.com

Spread across Switzerland’s 8.6 million residents this comes out at around CHF 1,740 per person and CHF 2,830 per worker.

BAK Economics expects significant declines in personal revenue in the form of lost salaries, lost freelance business and lower investment returns over the next two years because the economic impacts of the SARS-CoV-2 virus.

The institute expects incomes to fall by around 2.5%. Those working in certain sectors will be hit harder. The hotel, tourism and passenger transport sectors will be hit the hardest. Those working in export sectors, including finance, will be hit too, given the global slowdown, according to the report.

BAK forecasts the slowdown will extend into 2021 and emphasised the economic importance of avoiding a second wave of infections.

More on this:
Le Matin article (in French) – Take a 5 minute French test now

For more stories like this on Switzerland follow us on Facebook and Twitter.

About Investec
Investec
Investec is a distinctive Specialist Bank and Asset Manager. We provide a diverse range of financial products and services to our niche client base.

Leave a Reply

Your email address will not be published. Required fields are marked *