Switzerland, traditionally known as the home of luxury watches and jewellery, has experienced some hurdles of late. Here, as Baselworld 2016 kicks off, Euromonitor investigates the state of the market now – and its future.

“Made in Switzerland” is, for many, the ultimate guarantee of quality and craftsmanship in the luxury goods world when it comes to watches and is home to the most renowned luxury timepiece brands in the world.

Yet, these are sticky times for the Swiss luxury goods industry which was one of the worse performing markets in 2015. The Swiss franc has been surging on foreign exchange markets since the start of the year, when the Swiss National Bank unexpectedly allowed it to float.