The value added of travel services in Italy has demonstrated a steady increase over the years. From 2013 to 2023, the value rose from €1.7 billion to €2.44 billion. Notable increases were observed in 2014 with a 9.62% year-on-year growth, and in 2018 with a 10% rise. The recent years showed more modest growth: 1.55% in 2022 and 1.5% in 2023, with the Compound Annual Growth Rate (CAGR) over the last five years being 1.66%. Looking ahead, the value is forecasted to continue growing through 2028 at an average annual growth rate of 1.06%, potentially reaching €2.61 billion.
Future trends to watch:
- Technological advancements and digital transformation in travel services.
- Changes in regulatory environments and economic conditions.
- Shifts in consumer behavior towards sustainable and experience-oriented travel.
