Italy tourism

Italy: Tourism boom boosts summer GDP

After two years of travel and tourism restrictions linked to the COVID-19 pandemic emergency, Italy is now poised to reap the benefits of the first unrestricted summer season.

According to the latest e-invoicing data, reservations, airport arrivals and room occupancy figures, in the first half of the year, accommodation and food services marked a 66% increase in VAT from compared to the same period of 2021, reports.

Recent data from the Italian National Institute of Statistics (Istat) revealed that Italian tourism accounts for around 6.4% of GDP in its characteristic products and increases to over 9% when considering related industries such as shopping for travellers. In addition, its specific weight is significantly higher than the summer term.

From tourism, among the budgets that have increased the most are the municipal budgets, where in the first seven months of 2022 the mayors have collected 158.6 million euros from the tourist tax, with a jump of 194% compared to compared to the same period of 2021.

Considering that the beginning of 2021 was still affected by the tourism pandemic in the first six months, the comparison gives +330%, but even in July this year the increase was 37.6% compared to the same months last year.

However, Italian tourism in 2022 is characterized by two important factors. The first is the tendency of Italians to choose their country as a vacation destination. A recent forecast by the retailers association Comfcommercio revealed that of the 34.5 million Italians who have gone or will go on holiday, they choose a part of Italy as their destination.

On the other hand, the second incentive factor concerns the return of international tourism.

According to data from ENIT and Assotorismo, air reservations to Italy were +222% compared to the same month of 2021, while in August the increase was 202%.

In addition, research by the retailer association Comfcommercio showed that 2.2 million North Americans are expected to arrive in Italy between July and September with an estimated total spend of more than 2.1 billion euros, more 20% compared to 2019.

The data also revealed that tourism revenue in Italy is expected to reach 17 billion euros this summer.