Economic development in the Urseren Valley since 2005
Blog entry by Matthias Amacher, Ecoplan
The Urseren Valley in canton Uri – comprised of the three municipalities Andermatt, Hospental and Realp – has fared well over the past 10 years in spite of the turbulence in the national and international arenas. This is evidenced by a study mandated by the Urner Kantonalbank and conducted by Ecoplan. The study is based on a total of 19 indicators covering a wide variety of aspects of the economy, society and tourism. For example, employment and population in the Urseren Valley show positive development. This also influences tax revenues of the community of Andermatt, which have been increasing since 2007 and jumped significantly in 2014.
At the request of Andermatt Swiss Alps AG, this blog entry focuses mainly on development in the areas of tourism and real estate.
Increase in hotel capacity
Between 2005 and 2012, hotel capacity in the Urseren Valley increased only slightly. In 2012 and 2013 a decrease was seen in Andermatt, resulting from several special situations, e.g. the replacement building for the “Krone”, fire damage of the “Alpina”, closure of the “Altkirch”, and the use of “Haus Bonetti” as a residential building. However, the opening of The Chedi Andermatt, with its more than 100 rooms, more than compensated for this decrease. [(Number of hotel beds (indexed)]
Number of overnight stays increases along with capacity
The development of overnight stays since 2005 can be broken down into three phases:
- Between 2005 and 2008 the number of overnight stays increased slightly, as it did generally throughout Switzerland.
- Afterwards, the number of overnight stays decreased until 2012. Particularly in Andermatt, the decrease was significantly greater than the average in Switzerland.
- A turnaround began in 2013, and in 2014 the number of overnight stays was significantly higher than in 2005. [Number of overnight stays (indexed)]
Seasonal development (not displayed in the chart) has also been encouraging: The numbers of overnight stays in the lowest-demand months of November and May 2014 were significantly higher than the figures for the same months in 2005.
Increase in the number of building permits
237 apartments and houses were built in Andermatt between 2005 and 2014. 29 of these were apartments in the tourism resort. By the end of 2014, building permits had been issued for 61 further apartments in the apartment buildings in the resort. Thus, the marked increase in building permits since 2008/2009 is due only partially to the tourism resort:
The authors wish to draw special attention to the development of real estate prices. The prices of freehold apartments in Andermatt practically doubled between 2005 und 2014 (not displayed).
The complete study
The complete study “Wirtschaftliche Entwicklung im Urserntal” (in German) can be downloaded from the Urner Kantonalbank website.
About Ecoplan AG
Ecoplan AG is an economically and politically independent consultancy and research bureau with branches in Bern and Altdorf. Founded in 1988, Ecoplan is a public limited company that is wholly owned by its partners. Our success is measured by the satisfaction of our customers. The key to this lies both in the quality of our analysis and consultancy services and in our close working relationships with our customers. For more information and reference lists, please visit our website.
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