NEW YORK, Sept. 8, 2016 /PRNewswire/ --
Inbound tourism in Italy registered good growth in 2015, supported by the Milano Expo, which attracted five million international visitors. International arrivals are projected to grow at an average annual rate of 3.3% over 2016-2020. Weak economic growth and a high unemployment rate are expected to limit the growth of outbound tourism and encourage the growth of domestic tourism.
- Italy's travel and tourism market continued to grow in 2015. Both domestic and inbound tourism received a boost from Expo Milano, a universal exposition (held in Milan from May 1 to October 31, 2015). According to the study conducted by the regional chamber of commerce "Monza and Brianza Chamber of Commerce", as of August 2015, the Milan Expo brought in €100 million (US$111.1 million) for the Italian economy. The Expo attracted 16 million domestic tourists and five million international visitors. This also had a positive effect on hotel occupancy rates and RevPAR in Milan. Occupancy rate gained as much as 53.4% in August, 43.5% in September, and 36.5% in October. Inbound trips totaled 50.8 million in 2015, up by 4.6%, while domestic trips expanded by 3.6%. Furthermore, the depreciation of the Euro against the US dollar resulted in strong growth of 14.4% in arrivals from the US. Over the forecast period (2016-2020), inbound trips are projected to grow at an average annual rate of 3.3% to reach 59.8 million by 2020. Domestic and outbound trips are projected to grow at a CAGR of 2.1% and 2.9%, respectively, over the forecast period
- For the luxury market in Europe, Chinese tourists are considered to be high spenders compared to Italians, Russians, and Britons. In order to make Chinese tourists feel safer following the terror attacks in France and Brussels, Italy deployed some Chinese police officers (wearing the same uniform that they wear in their home country) for two weeks in May to patrol along with Italian officers on the streets of Milan and Rome
- According to Mohamed Abdel Gabbar, head of Foreign Tourism at the Egyptian Tourism Authority (ETA), there has been a drop of almost 90% in Italians booking holidays to Egypt in 2016, compared to the summer season of 2015. The killing of Mexican tourists in September 2015, the downing of the Russian chartered passenger plane Metrojet Flight 9268, and the death of an Italian student, Guilio Regeni, on the streets of Cairo were the main reasons for this steep downfall
The Travel and Tourism in Italy to 2020 report provides detailed information on the country's tourism sector, analyzing market data and providing insights. This report provides a better understanding of tourism flows, expenditure, and the airline, hotel, car rental, and travel intermediaries industries.
What else does this report offer?
- Historic and forecast tourist volumes covering the entire Italian Travel and Tourism sector
- Detailed analysis of tourist spending patterns for various categories, such as accommodation, sightseeing entertainment, foodservice, transportation, retail, travel intermediaries, and others
- Analysis of trips by purpose and mode of transport, and expenditure across various categories including domestic, inbound, and outbound tourism, with analysis using similar metrics
- Analysis of the airline, hotel, car rental, and travel intermediaries industries by customer type - leisure and business travelers
Reasons To Buy
- Make strategic business decisions using historic and forecast market data related to Italy's Travel and Tourism sector
- Understand the demand-side dynamics within the industry to identify key market trends and growth opportunities
- Direct promotional efforts on the most promising markets by identifying the key source and destination countries
Read the full report: http://www.reportlinker.com/p04053975-summary/view-report.html
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