The bank Credit Suisse is estimating there’s around CHF 3.5billion sitting in bank accounts, ready to be spent in bars and restaurants as soon as they reopen.
Unsurprisingly, people have been saving money during the pandemic, but not as much in the second wave than the first.
The bank says the average household saved CHF 3,000 in the first lockdown, but savings were only about CHF 880 during the second wave.
Even so, that adds up to billions of francs ready to be spent as soon as businesses start up again.
The bank cautions, however, that it doesn’t mean restaurants will be swimming in cash from the start. People won’t go out everyday and it will take about 14 weeks for an open restaurant to make up for one week of closure.
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