Market Research Report
Payments Snapshot in Switzerland - Coronavirus (COVID-19) Sector Impact
|Published by||GlobalData||Product code||951631|
|Published||Content info||23 Pages
Delivery time: 1-2 business days
|Payments Snapshot in Switzerland - Coronavirus (COVID-19) Sector Impact|
|Published: July 16, 2020||Content info: 23 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 it a pandemic on March 11, 2020. The virus has spread to 190 countries/regions with over 13.6 million confirmed cases, with its spread outpacing other major infectious outbreaks from the past.
The ongoing pandemic has severely affected Switzerland's export-oriented economy. 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 several lockdown measures eased, some recovery could be seen.
On March 13, the Swiss government announced a stimulus package of CHF10bn ($10.33bn) as immediate support for workers and small businesses impacted by the crisis.
This report focuses on the impact of the Coronavirus outbreak on both the economyand the cards and payments industry in Switzerland. Based on our proprietary datasets, the snapshotprovides a detailed comparison between pre-COVID-19 forecasts andrevised forecasts of total payment card, debit card, and credit and charge card transactions by value and volume. It also offers information on measures taken by the government to combat Coronavirus.