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Source Market Insights; Italy

  • July 2015
  • 21 pages
  • GlobalData
Report ID: 3089823

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Summary
Source Market Insights: Italy provides an overview of the Italian outbound market, analyzing market data and providing insights. This report provides a better understanding of the number of Italian tourists going abroad, their spending habits, and the main destination markets

Key Findings
- Since the 2012 Euro crisis, Italy's economic problems have persistently worried its neighbours as it faltered into near bankruptcy in 2011. However, after three years of recession, Italy's economy actually grew in the first three months of 2014, by 0.3% compared with the previous quarter. It is forecast to grow by 0.7% in 2015, which is certainly a boost compared with the country's recent GDP, which was just 0.2% between 2001 and 2013

- Prime Minister Monti has introduced new measures to reduce corruption and reinstall a sense of stability into the economy. Of the 943,000 Italians that became unemployed between 2007 and 2014, 70% were southerners. However, an increase in exports and cheaper credit in recent months have helped Italy's economy recover from its worst days of recession. The International Monetary Fund (IMF) projects GDP to witness stable annual growth of more than 1% over the next four years. Consequently, Canadean expects international departures to recover gradually to reach 33 million by 2019

- With an increasing number of low-cost carriers (LCCs) within Europe, air travel trips are expected to increase from 18 million in 2014 to 22 million by 2019. Of the three carriers for international routes, two are LCCs and the overall market leader is also an LCC. As a result, Canadean expects LCCs to overtake full-service carriers in terms of seats sold in the next three to four years

- Nevertheless, the Italian recovery remains fragile and vulnerable to external shocks. For example, while the economy was slowly improving in 2014, problems occurred when the Ukrainian crisis and EU (European Union) sanctions on Russia had a negative effect on the Italian economy, which jeopardized Italian disposable income

Synopsis
The report provides detailed market analysis, information, and insights, including:

- Historic and forecast tourist volumes covering the entire Italian outbound tourism sector from 2010 to 2019

- Detailed analysis of the mode of transport preferred for outbound trips including air, water, land and rail

- Detailed analysis of the market trends in the Italian outbound tourism sector

Reasons To Buy
- Make strategic business decisions using historic and forecast market data related to the Italian outbound tourism sector

- Understand the key market trends and growth opportunities in the Italian outbound tourism sector, along with key trends and growth opportunities

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