Credit Suisse chairman Antonio Horta Osorio resigns

Credit Suisse chairman Antonio Horta Osorio resigns

International sports organizations are more profitable for Switzerland. Between 2014 and 2019, their economic impact is estimated at 1.68 billion francs per year, an increase of 57% over the previous period (2008-2013).

Wood Canton, home to several sports federations, alone holds 873 million francs (+ 58%), including 550 million in Lausanne district (+ 120%). “The economic impact is huge, and it’s growing,” Vodafone State Councilor Philip Luba said Tuesday, presenting a study by the International Academy of Sports Science and Technology (AISTS).

The reason for this growth is the increase in the number of organizations on Swiss soil, which leads to higher costs and salaries. In other explanations, Philip Luba commented on the surge in TV rights granted to various federations and the amount “flowing into the local economy”.

“These are very clear results,” the finance and sports minister said. Many sectors, such as business tourism, benefit from the 44,600 overnight stays in Switzerland each year. The same is true of construction, for example, thanks to major projects such as the new IOC headquarters in Lausanne.

Visit card

In terms of employment, the international sport employs more than 3,300 people in Switzerland. They operate in this area of ​​Wood Canton in 1840, where they receive approximately 57 million francs in income tax each year.

Philip Luba recalled that at the exact tax level, the federations themselves were exempt from tax. “It’s happening all over the world, and it’s not unique to Vod,” he said.

Syndic of Lawson, Gregor Junod Sports also spoke about the importance of ecosystems around the economy, especially its relationship with the health sector and universities. He also demanded that Lausanne be given the status of Olympic capital, a “valuable business card” for promoting the city.

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This “notoriety” and this “pride” are shared by the population, Gregor Junod said. He cited a poll conducted as part of the AISTS study, which shows that 77% of French-speaking Swiss residents value the international sporting presence in Switzerland.

Consensus

This concentration of “unique” sports organizations in the world and its economic impact is causing “jealousy” in other countries, acknowledged Philip Luba. For example, Singapore and Dubai are trying to “seduce” Switzerland-based federations.

“These countries are ready to deploy significant economic means and we can not compete against it. However, we have many other assets,” he said, citing the standard of living in Switzerland, the legal stability of the order or the proximity of political authorities.

When rumors of FIFA’s departure from Zurich resurfaced, following the recent revelations of its president Gianni Infantino’s move to Qatar, Philippe Luba recognized the “real danger” of seeing sports organizations leave Switzerland. “Nothing is certain, we have to fight to keep these federations going,” he said.

The state councilor added that the authorities were not only defending Vaudois and Lausanne against the competition. “We also have a desire to attract new federations. We are working for that,” he said.

The survey was conducted by 53 organizations

AISTS conducted the study with 53 sports organizations based in Switzerland, including 46 in Wood Canton. Its questionnaire made it possible to highlight the operations, investment costs, visitor expenses and cash flow from sports institutions. It has direct (salaries and charges), indirect (purchases of goods and services) and incentive (economic impact of income injected into the local economy).

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This article is self-published. Source: ats

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