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Published on : Monday, September 14, 2020
Owing to the unprecedented business environment due to COVID-19 pandemic, Italy’s tourism sector estimated to earn a maximum of 100bn euros in comparison to its business profits from last year. Research on the present economic condition highlighted the fact that the Italian tourism sector, which accounted for 13.3 per cent of Italy’s GDP last year, will have nearly been cut in half this year.
The studies said that 65 million fewer visitors came to Italy between June and August alone. Health conditions and apprehensions about virus spread have forced people to restricted movement. On the contrary to the present situation, back in March Luca Patane, president of Confiturismo, examined that this year the tourism sector of Italy will grow, however, owing to the sudden change in the tourism environment due to virus threat, now it noted an expectation of loss of 100 billion euros.
Recently, the World Travel and Tourism Council also released an estimate mentioning that the Italian tourism sector would suffer losses of 36.7 billion euros this year, from which the group said the country’s economy would not recover for several years. Hopes are shattered and news of loss is prevailing. In this respect, Confiturismo and Assoturismo also stated that without the help of the government recovery of this sector is next to impossible and the loss they have suffered is irreparable.
They studied that while domestic tourism increased has by 1.1 per cent this summer and this might offset by a 66 per cent decrease in foreign arrivals. The tourism sector was non-operational from March to May, and this affected as havoc. Italy began easing restrictions in May, but tourism numbers have not recovered.
Tags: Covid-19, italian tourists, Italy Tourism, pandemic, Travel