French tourists plummet while Swiss watches take the hit

　　Once upon a time, France was a dream destination for countless people, but ever since a series of terrorist attacks occurred in France, tourists from all over the world have bypassed it in unison, leaving even Europe to lose its charm.

　　France isSwiss watchesa transit hub for sales. Last month, Swiss watch exports to France shrank by a quarter, and since the beginning of this year, Swiss watch sales have decreased by 1.5 billion Swiss francs.

　　France, this former tourism superpower, used to attract holidaymakers from all over the world for sightseeing, providing an important platform for the Swiss watch industry. France falling out of favour in the hearts of tourists due to terrorist attacks is a heavy blow to the Swiss watch industry.

　　In the first 8 months of the year, Swiss watch sales to France decreased by 18%, with exports dropping to 6.67 billion Swiss francs. According to the latest data from the Federation of the Swiss Watch Industry (FH), in 7 alone this year, Swiss watch exports to France decreased by 24% compared to the previous month. Jean-Daniel Pasche, President of the Federation of the Swiss Watch Industry, said in an interview with Swiss television: "Until 11 of last year, the French market was operating normally and even showing an upward trend. Since the terrorist attacks occurred, tourists have decreased, and consequently, so have watch buyers. As long as news about terrorist attacks persists, we will not have an easy time."

　　Terror attacks deter visitors

　　A series of terrorist attacks occurred in Paris last 11, including the shooting at the Bataclan theatre which caused numerous casualties; the harrowing scenes of the large lorry attack in Nice this 7 shocked people around the world.

　　As tourists steer clear of France, Swiss television interviewed Cornélia Zogg, President of the Swiss Watch Industry Employers' Association, who also stated: "Europe's appeal to Asian tourists has diminished significantly, which is most evident among the Japanese; since the terrorist attacks, the overnight stay rate of Japanese tourists has dropped by 46%." Meanwhile, Asian tourists are loyal fans of Swiss watches.

　　The French economy has been affected by the terrorist attacks, with a 10% reduction in tourists, leaving hotels and luxury boutiques deserted.

　　The problem is not confined to France alone

　　The situation in France has only added to the woes of the Swiss watch industry. The Asian market has been in decline for some time, and Hong Kong in particular—which remained an important market for Swiss watches until this summer—has also shown sluggish conditions. In the first eight months of this year, Swiss watch exports to Hong Kong fell by 28%, where tourist numbers are also declining, linked to the protests taking place in Hong Kong.

　　The United States has replaced Hong Kong to become a major sales market for Swiss watches today. For the Federation of the Swiss Watch Industry Employers, "the challenge facing Swiss watches is innovation, because competition is becoming increasingly fierce," Zogg said.

　　China becomes a seed of hope

　　Amid the struggles faced by the Swiss watch industry, China has emerged as a seed of hope, as Chinese interest in Swiss watches has rebounded following a period of stagnation.

　　Swiss watch exports to China increased by 29% in 8, though Jean-Daniel Pasche, President of the Federation of the Swiss Watch Industry, told Swiss television that we cannot pin too many hopes on a single month's figures.

　　However, he hopes this marks a positive beginning, as strong business in the Chinese market can help offset shortfalls in other regions.