The turnover of event catering in Italy experienced significant fluctuations from 2013 to 2023. Initially, the industry showed steady growth with a notable peak in 2019 at 1100 million Euros. However, the global events of 2020 caused a dramatic decline of 69.34%, dropping the turnover to 336.4 million Euros. The recovery began in 2021 with a remarkable 115.7% year-on-year increase, continuing through 2022 and 2023, ultimately reaching 1140 million Euros by 2023.
Significant year-on-year variations in the past two years include 33.45% in 2022 and 17.49% in 2023, showing strong growth momentum post-pandemic. Looking at the compound annual growth rate (CAGR) over the past five years, the industry achieved an average annual growth of 2.86% up to 2023. Future forecasts suggest a more moderate growth trend with an estimated 0.9% CAGR from 2024 to 2028, projecting the turnover to reach 1200 million Euros by 2028.
Future trends to watch for include:
- Technological advancements in event management and catering services
- Increasing demand for sustainable and eco-friendly catering solutions
- Shifts towards hybrid events combining virtual and in-person attendance
- Potential impacts of global economic conditions on consumer spending in the event industry
