The escalating Middle East conflict is impacting Swiss mountain railways, particularly due to restricted travel through the Gulf region and the start of the Arab booking season. While the Jungfrau and Titlis railways are already experiencing share price losses and occasional declines in bookings, Rigi, Pilatus, and Zermatt benefit from a diverse guest mix and a high proportion of domestic visitors, which mitigates the direct effects. However, experts see the greatest risk not in the direct conflict or booking declines, but in its consequences for energy prices and global economic growth. Switzerland continues to position itself as a safe and stable premium destination, but must prepare for greater volatility in booking behavior.

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