HIGH-END TOURISM IN ITALY IS WORTH 25 BILLION EUROS

Tourism is a key industry for Italy, representing 13% of the country's GDP, and creating 14% of its jobs (ISTAT data for 2019), as well as being an effective calling card for our country with international tourists who in turn become direct ambassadors of our excellence abroad. Tourism is also a great driver for Italian-made products: pre-Covid, for example, 60% of personal luxury spending in Italy was done by foreign visitors. Today, luxury tourism is worth 25 billion euros, and this figure rises to 60 billion - 3% of GDP - if we take account of the induced effects, as well as direct and indirect spending. If strategically boosted it could produce up to 100 billion euros in direct value, added to the positive impact of the induced effects on local areas. It is therefore an essential ingredient in the strategies to relaunch the country and our economy, with a powerful impact on local areas and many sectors of Italian industry. 

This was the theme of this year's Altagamma Day, held online, devoted to the role that luxury travel can play as a driver of the Italian economy. For the occasion, the Foundation presented the book “High-end Tourism. Strategic Leverage for Italy", produced by Altagamma in collaboration with Bain & Company, Boston Consulting Group, ENIT - The Italian National Tourism Agency, and Global Blue, with input from Sabina Belli (Vice President for jewelry), Carlo Capasa (Vice President for fashion), Claudio Domenicali (Vice President for automotive), Giovanni Geddes da Filicaja (Vice President for food), Leonardo Ferragamo (Honorary President), Claudio Luti (Vice President for design), Aldo Melpignano (Vice President for hospitality), and Giovanna Vitelli (Vice President for the yacht industry).