Market Research Report
Retail Savings and Investments in Switzerland - Coronavirus (COVID-19) Sector Impact
|Published by||GlobalData||Product code||950848|
|Published||Content info||19 Pages
Delivery time: 1-2 business days
|Retail Savings and Investments in Switzerland - Coronavirus (COVID-19) Sector Impact|
|Published: July 16, 2020||Content info: 19 Pages||
The Coronavirus (SARS-CoV-2) outbreak, dubbed COVID-19, is first and foremost a human tragedy, affecting millions of people globally. The contagious Coronavirus, which broke out at the close of 2019, has led to a medical emergency across the world, with the World Health Organization officially declaring the novel Coronavirus a pandemic on March 11, 2020.
Fears surrounding the impact of COVID-19 have already significantly impacted the global economy, with most countries across the world registering dramatic declines in economic activity year-to-date. Many economists and institutions have cut their forecasts as a number of countries officially slipped into recession in Q1 2020. Similarly, Switzerland is expected to enter recession by the end of 2020, as COVID-19 is having a major impact on the local economy.
The ongoing pandemic has severely affected Switzerland's export-oriented economy, resulting in a slowdown in exports, a fall in tourism, and a fall in the domestic consumption of goods and services. According to the Swiss government, the economy could lose an estimated CHF100bn ($103.3bn) in output in 2020 due to the pandemic, with the economy set to shrink by 6.2%. As the country is moving towards normalization with the easing of lockdown measures, we expect economic performance to pick up, which will benefit the retail savings and investments industry as well. However, significant uncertainties remain.
This report focuses on the impact of the coronavirus outbreak on the Swiss economy and the country's retail savings and investment market. It also highlights the measures adopted by the government to combat COVID-19. Based on our proprietary datasets, the snap shot contrasts GlobalData's pre-COVID-19 forecasts and revised forecasts of total retail bond, deposits, equities and mutual funds holdings in terms of value and growth rates. It also analyses the effects on HNW wealth, examining the importance of different industries as a contributor to HNW wealth.