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Newsletter n. 28

Bankitalia: “Tourism in Italy is growing, Airbnb impact is positive”

The average spending of international travelers for holidays, especially cultural, in Italy is growing. According to the research carried out by the Bank of Italy “Tourism in Italy, numbers and potential for development”, the increase of spending by tourists coming from abroad is more than 9%.

Among the positive aspects reported by the study the organizational reform of state museums, with special autonomy and review of governance. The survey conducted on 40 museums shows, in fact, how the offer of services of the autonomous ones has widened more than that of them remaining state museums.

Tourism numbers:
Tourism generates over 5% of GDP and about 6% of total employment. 40% of global service exports are attributable to it. Its external balance is structurally in surplus and is equal to almost one point of GDP and about one third of Italy’s total trade surplus

However, the data are not homogeneous throughout the national territory. In the South, in fact, foreigners’ spending accounts for only 15% of the total. Some places, like Venice and Florence, are suffocated by overtourism; while in other areas potentially rich in attractiveness, tourism activity remains underdimensioned.

The impact of Airbnb:
The research also measures the economic impact of the popularity of Airbnb which, by strengthening competition with its private accommodation offer, has accelerated the upgrading of hotels. The economic activity generated by the alternative to the hotel industry has had positive effects also on the real estate values. Increases were proportionally larger in the outlying areas of cities rather than in the center.

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