Geneva retailers report 30-50% sales drop during G7 summit

Geneva's retail sector experienced a significant downturn during the recent G7 summit, with sales plummeting by 30% to 50%. The hospitality industry also saw a decline, with hotel revenues dropping by 20%. These estimates come from the Geneva Employers' Federation (FER Genève), which surveyed its executive board.

To gain a clearer picture, Genève Commerce, an association within FER Genève, is now surveying its approximately 70 member retailers. The survey seeks to understand the extent of financial losses, whether businesses incurred costs for security measures like barricading, and if they experienced any damage. Results from this detailed survey are expected next week.

Retailers are being asked to quantify their revenue shortfalls, regardless of whether their stores remained open or closed during the summit. The survey also probes into any logistical challenges faced by businesses. The findings will provide a more precise assessment of the economic impact the G7 summit had on Geneva's retail landscape.