tag:blogger.com,1999:blog-9204374242006832151.post3017348054459053317..comments2023-07-06T10:48:10.382+01:00Comments on Rigotnomics: Swiss tourism and the falling francPierre-Louishttp://www.blogger.com/profile/03936185995162366004noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-9204374242006832151.post-31946755741529296782010-08-20T17:07:37.720+01:002010-08-20T17:07:37.720+01:00Certainly, the SNB did act to avoid deflation but ...Certainly, the SNB did act to avoid deflation but I really do not think that tourism was the main driver. The country exports loads of manufacturing and other stuff which certainly account for much more employment than tourism does.....But I think this misses the point in any case. The buying of reserves and the hoped for stop of the appreciation, which failed dramatically this year, is meant to stop IMPORT PRICE deflation (which then feeds into domestic inflation).....I do not think you need to worry too much, Swiss ski resorts will remain expensive !Sebastianhttps://www.blogger.com/profile/06478237583074684339noreply@blogger.com