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ECONOMY

Swiss post-Covid economic recovery ‘fourth best in the world’

Switzerland economic resilience and capacity to rebound from the coronavirus pandemic is the fourth best in the world.

Swiss post-Covid economic recovery ‘fourth best in the world’
A large Swiss flag near Schwagalp, eastern Switzerland.. Photo: FABRICE COFFRINI / AFP

According to a study released on Wednesday by Horizon Insight and Strategy, Switzerland is among the best-placed countries in the world to recover from the coronavirus pandemic. 

The study looked at countries’ capacities to rebound from the pandemic, looking at health, social and economic indicators. 

Switzerland placed fourth behind Finland, Norway and Germany. 

READ: Solidarity tax on rich Swiss extended due to coronavirus 

While German-speaking and Nordic countries placed well, the story wasn’t so good for Switzerland’s Latin neighbours. 

France only placed 18th – behind heavily hit countries like the United States and the United Kingdom as well was smaller nations like Estonia and Slovenia – while Italy placed fourth. 

‘World-class governance’

According to the authors of the study, countries in the top bracket “combine world class governance with high levels of social capital and high social resilience. They also have strong financial systems, manageable debt levels and good health system resilience”. 

While placing fourth overall, Switzerland placed first for economic resilience and for labour market agility, two key metrics. 

The only negative for Switzerland is its reliance on international markets. 

“The country presents vulnerabilities… because it is highly exposed to vulnerable sectors and very dependent on international markets.”

“However, for a small economy such as Switzerland, the strong international linkages will be an asset for the recovery process, as the country’s main trade partners are expected to recover well from the crisis.”

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COVID-19

Switzerland’s Montreux Jazz Festival cancels concerts of unvaccinated British artists

Switzerland’s Montreux Jazz Festival announced on Friday that it was forced to drop the acts of four UK-based artists from its summer program because they haven’t been fully vaccinated yet.

Switzerland's Montreux Jazz Festival cancels concerts of unvaccinated British artists
British singer-songwriter Rag'n'Bone Man was dropped from Montreux Jazx Festival. Photo: GUILLAUME SOUVANT / AFP

The move was done in order to comply with current Covid-19 entry rules into Switzerland, which state that from June 26th, travellers from outside the Schengen zone, including Brits, will only be allowed to enter Switzerland if they have been fully vaccinated or have recovered from the virus. 

READ ALSO: Switzerland relaxes travel rules for vaccinated Americans and Brits: What you need to know

British soul singer Rag’n’Bone Man who was one of the headliners for the 2021 edition of the festival, which starts on July 2nd, will now no longer be able to attend due to not being fully vaccinated.

Other unvaccinated acts based in the UK who were also dropped because of the new entry rules include Inhaler, Alfa Mist and the Yussef Dayes Trio.

The artists have already been replaced with other performers from around Europe including Italian singer Zucchero, Woodkid, Dutch songwriter Benny Sings and Danish jazz trio Athletic Progression.

In a statement on June 25th, festival organisers said they were trying to make sure that the concerts of the other UK artists would continue to go ahead, however it is tricky because of fears over the Delta strain of the Covid virus, which has now become dominant in Britain.

“Whether or not these artists can come depends on their vaccination status and that of their touring entourage, as well as their ability to quarantine at the start of their European tour or before their concert at Montreux,” they said.

The Montreux Jazz Festival is one of just a small handful of big music festivals in Switzerland that will still go ahead this summer. Other music events such as St Gallen Open-Air, Paléo and Bern’s Gurten festival have been cancelled for the second year in a row, due to ongoing fears over the Covid-19 virus.

READ ALSO: UPDATE: What rules do European countries have for travellers from the UK?

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