The turnover of travel agencies in Italy has shown considerable variability over the past decade. From 2013 to 2019, there was a steady increase, reflecting a robust industry growth. However, the COVID-19 pandemic in 2020 resulted in a dramatic downturn, with turnover plummeting by 67.65%. Post-pandemic recovery has been swift, with turnovers rebounding significantly in 2021 and 2022, reaching 5.04 billion Euros in 2023. The year-on-year variation in 2023 was 21.87%, showing a strong recovery trajectory. The 5-year CAGR up to 2023 was 3.64%.
Forecasts indicate continual growth from 2024 to 2028, with an expected increase from 5.3 billion Euros in 2024 to 6.29 billion Euros in 2028. The forecasted 5-year CAGR is 3.51%, pointing towards sustained industry growth.
Future trends to watch for include:
- Increased digital transformation within the industry.
- Enhanced personalization and tailored travel experiences driven by AI advancements.
- Sustainable and eco-friendly travel options gaining popularity.
- Potential volatility due to geopolitical and economic uncertainties.
- Continued recovery and growth post-pandemic as international travel resumes.
