(Finance) – The floods that affected Central Italy and the early snowfalls in the Alps have abruptly interrupted the summer of Italians, which now seems like a distant memory, even if it officially ended a few days ago. While waiting for the official data that will be released only in several months, it is already possible to make some assessments on the traditionally strongest period for the Italian sector. The 2024 summer season should not have matched what it did last yeara record 2023 for tourism in Italy. The month of June was certainly not brilliant due to a prolonged period of adverse weather conditions, especially in the northern regions and in some areas of the center, to which was added the alarm for the water emergency in the southern and island regions. In July there was a gradual restart, especially due to the surge in foreign presences in Italian accommodation facilities, unlike Italian demand which showed some signs of slowing down. The trend continued in August, with the fatigue of domestic tourist demand which has mainly affected the smaller towns, while the theme of the has emerged ever more stronglyovertourism in various locations.
Satisfaction and optimism, however, come from some of the tourism companies listed on Piazza Affari, many of which have the attraction of foreign tourists to the Bel Paese as their main growth driver.
“The summer of 2024 has Italy confirmed as a reference destination for foreign touristswith a strong recovery in terms of arrivals and spending – says the president of Destination Italy , Dina Ravera – The country has benefited from a diversification of the tourist offer, with an ever-increasing focus on cultural experiences, food and wine, sports and nature, wellness and shopping, thus consolidating its position in the international tourist panorama. In particular, our group has highlighted the growing interest of travellers in additional destinations in addition to the traditional cities of art (Rome, Florence, Venice).”
According to the latest survey by CNA Tourism and Commerce, the foreign presences in the current month of September could reach 32 million against less than 30 million recorded in 2023, thanks to the increase in overnight stays. In addition to the absolute growth, the growth is also recorded in the average stays per tourist, which has reached just under four nights per capita, to be precise 3.7. The expenses that the more than 8.5 million foreign tourists expected for the whole of September will sustain in Italy are expected to be over 6 billion euros, a record that confirms the significant and growing weight of the international component on the Italian leisure industry.
While the strength of international customers is not in question, it is interesting to look at the reasons why domestic demand has been weaker, which operators are also asking themselves in order to make careful choices regarding their business. “The 2024 summer season has given further proof of how in recent years habits of Italian and international customers have changed radically due to economic, social and meteorological factors – he says Giammarco NeedCEO of Emma Villas – An important part of our activity is dedicated to analyzing market trends to be reactive in picking up structural signals of possible change. Among the most significant phenomena that impact the tourism sector we find, for example, inflation, high flight prices and also the average increase in temperatures, factors that are changing the distribution of tourist flows, no longer only in the high summer season, but also in the medium and low season months”.
According to Demoskopika estimates, in August 2024 the national index of tourist consumer prices for the entire community increased by 4.6% on an annual basis. Analyzing the detailed items of the “tourist basket”, holiday packages stand out for their relevance (+23.2%) on an annual basis with national ones in the lead (+37.4%). More contained, although significant, is the growth in prices of accommodation services (+5.6%) with the item of holiday villages, campsites (+12.9%) and accommodation services in other structures, such as bed & breakfasts (+7.2%) at the top. These numbers explain why many Italians have given up on leaving or have shortened their stays.
Regardless of the numbers with which the 2024 season will actually close, it is clear that inflation – first and foremost – and other contingent factors – such as the uncertainties arising from conflicts that have broken out in various parts of the world – are now elements to be considered also in the commercial approach of operators. “Tourism in Italy continues to grow, especially where the offer is renewed. There is room for growth in other Mediterranean countries too – he states Carmine ColellaCEO of SoStravel.com – However, challenges remain: inflation and geopolitical uncertainties will influence the performance of the sector. By investing in technology and constantly improving customer experiences, you can succeed in making your way in a world where there is so much competition.”
According to Assoturismo Confesercenti, the tourist season will be overall below expectations: overnight stays between June and August decreased by 0.7%, for a decrease of 1.4 million presences compared to last year. The decline in Italian demand (-2.9%) weighed heavily, with sharp decreases in seaside resorts (-4.1%), spas (-5.3%) and lakes (-3.7%). In absolute terms, 105.4 million overnight stays by Italians are estimated for the summer quarter, compared to 108.6 million in 2023. The increase in foreigners is estimated at +1.6%, felt more in the hotel sector (+2.4%), but also in complementary structures (+0.9%). In absolute terms, estimated overnight stays rise to over 105.1 million, compared to 103.4 million in 2023. An increase that, however, is not enough to compensate for the decline in domestic demand.
Meanwhile, operators listed on Piazza Affari continue their development, strong in the standing provided by the Stock Exchange, also with extraordinary operations such as acquisitions and partnerships. “The listing on the Stock Exchange has provided us new resources with which we are expanding our portfolio of exclusively managed villas – currently composed of over 650 properties throughout Italy – through the acquisition of brands active in areas with a high tourist vocation and strongly recognized in the territory, such as Domus Rental, Marche Holiday Villas and Massimo Villas”, says Bisogno. “2024 represents a year of strategic growth for our sector, marked by a solid recovery and a strong expansion both through mergers and acquisitions (M&A), both through organic growth of our activities – says Ravera – This momentum is fueled in part by the boom in international tourism, which continues to strengthen after the pandemic. “Sostravel.com’s diversification into Travel Technology services to passengers, such as Lost Luggage Concierge and Dr. Travel is working well, there is interest from large operators to provide services through B2B agreements“, comments Colella.