Italy’s travel and tourism industry is experiencing an impressive post-pandemic recovery, according to the World Travel & Tourism Council’s (WTTC) 2023 Economic Impact Research (EIR).
This sector is expected to contribute €194BN to the Italian economy by the end of 2023.
Commenting on the outcome of the report, the President and CEO of WTTC, Julia Simpson, said that the industry of travel and tourism is one of the biggest contributors to the economy of Italy.
“The sector’s strong recovery is great news for jobs and prosperity across Italy as international visitors return. Over the next ten years, we expect tourism to grow to represent 12 per cent of the Italian GDP,” Simpson stated.
In 2022, the overall regional economy in Italy benefited €1.9TN from the European travel and tourism industry, only seven per cent less than its highest peak in 2019.
Travel & Tourism Industry to Increase Italy’s GDP to €237BN by 2033
Last year the GDP contribution increased by 33.4 per cent from travel and tourism and went on to reach more than €194N in total. This presented 10.2 per cent of the Italian economy, nearing the 2019 peak of €200.5BN.
As per 2023, WTTC predicts that the GDP contribution from the travel and tourism sector in Italy will reach approximately €2.04TN with little difference from the 2019 statistics. Meanwhile, within the next ten years, it is expected that the industry will expand its GDP contribution to nearly €237BN.
In an earlier study done by Deutsche Bank, it was revealed that Italy was one of the top five EU countries, the economy of which is highly dependent on the tourism industry. Millions of visitors travel to Italy each year because of its Alps, coastlines, and ancient locations, making it one of the most visited countries in the world.
Number of Workplaces to Increase by 65K in Italy in 2023
The report also shows that a great number of workplaces in the tourism sector in Italy have been lost due to the pandemic, yet until now, 334,000 workplaces out of 477,000 of them have been recovered.
Another 65,000 workplaces in Italy are expected to be created by the industry this year, aiming to recover nearly all of the workplaces lost due to COVID-19 by the end of 2024.
In the next decade, 3.3MN people all over Italy are expected to get employed – one in seven Italians working in the travel and tourism industry.
US Visitors Return to Italy in Numbers Higher Than Pre-COVID
The number of foreign visitors returning to Italy increased last year as well, with their expenditure increasing by 99.3 per cent to reach over €42BN, only 11 per cent below 2019 levels.
According to Turismatica, a database of the Umbria Region in Italy concerning statistics on tourism, there were 466,653 tourists during the period January – May 2023 in this region, most of them (304,405) Italian origin and 162,248 foreign ones. These statistics show an increase of 55.5 per cent compared to the data recorded last year.
In addition, the foreign tourists travelling to Italy were mostly from the following countries:
- United States (34,918)
- Germany (18,945)
- France (10,600)
- Brazil (6,701)
- South Korea (3,999)
- Australia (3,514)
Since the number of visitors in Italy is continuously increasing, the Italian Health Ministry has warned tourists about the severe heat dominating Italy. Locals and tourists alike are advised to avoid going out from 11 a.m. to six p.m., stay hydrated and be careful with their food.
