Italy's hospitality market to grow by 7 % by 2023: news from MonitorImmobiliare

After the forced hiatus caused by the Covid pandemic, the hotel industry is again showing encouraging results.

According to the latest study by the Travel Innovation Observatory of the School of Management of the Polytechnic University of Milan, both hotel and tourism sector revenue are exceeding 2019 figures on forecast revenue for 2023.

In the hospitality sector, taking into account hotels and accommodation facilities, and considering domestic and inbound tourism, revenue will reach 35.8 billion euros by the end of this year, 11% higher than in 2022 and 7% above the 2019 level.

The decisive impetus comes from e-commerce, which reaches 19.4 billion euros (2.9 billion more than in 2022) and continues to grow relative to the overall market, especially in the direct component, which represents 54% of the total.

There is also good news in transportation: the Observatory of the Polytechnic University of Milan forecasts for this sector a total revenue of 23.7 billion euros, with an increase of 41% over 2022 and especially 9% over 2019.

The recovery of organized tourism is confirmed, although tour operators' values (excluding cruises) are still slightly below the 2019 level (-2%).