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It is nearly incontestable that people across the world always seek to have new experiences and learn new things; tourism usually provides the best opportunity to enable people achieve this end…
It is nearly incontestable that people across the world always seek to have new experiences and learn new things; tourism usually provides the best opportunity to enable people achieve this end. Its tourism infrastructure is highly developed, particularly in the cities and mountainous regions. Tourists are attracted to Switzerland’s landscapes and Alpine climate. Also, being one of the great and diverse commercial hubs in the world, tourists find Switzerland a preferable destination Euromonitor International (2011). Tourism plays a very crucial role in Switzerland’s economy accounting to more than 4% of its Gross Domestic Product (GDP) OECD (2011). Besides, it plays a very crucial role in creating employment opportunities especially in the rural areas. Just like in most countries across the world, tourism in Switzerland is impacted by external environmental factors namely political, economic, socio- cultural, and technological among others. Currency fluctuation is a major economic factor that greatly impacts on tourism in most countries across the world and Switzerland is no exception. According to O’Sullivan and Schifrin (2003), currency fluctuations refer to a tendency of national currencies to change relative to other national currencies at a given period of time. Currency fluctuations can be attributed to the following factors; political and social stability, country’s economic strength, increased of reduced demand for a certain currency, unemployment rates, and country’s interest rates among others. ...
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