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TOURISM, A SECTOR THAT IS RESTARTING
Press release n. 11 of the 14/10/2020 9.32.08 ( download )
.During TTG, the sector´s top experts will discuss the future of a market that what it takes to grasp new opportunities and open up to new horizons
Rimini, 12th October 2020 - ´Restarting Tourism´ is the motto of the UNWTO (World Tourism Organization) for coming months. Months in which work will have to be done to build a ´new´ tourism able to operate for everybody, where a fundamental role will be played by sustainability and innovation.
The market is aware of this and is particularly sensitive to these issues, ready to grasp the opportunities that any crisis offers. The sector´s figures confirm this.
In Italy alone, this is a sector that in 2019 had a value of 13% if Italy´s GDP, 15% of the employment and contributed of 17 billion euros to the credit of Italy´s trade balance (according to Banca d´Italia). Before the Covid emergency, the incoming market in Italy had a value of 50.5% of the total nights´ stay, equal to 216.5 million in absolute figures. Up until 2018, vacations represented 85% of Italian residents´ travel, with a growth of almost 14 percent on 2017 (source: ISTAT). Italians´ average spending for holiday stays in 2018 was slightly over 360 euros per capita (source: ISTAT).
But . as we well know - in 2020 the world came to a halt and today factors of uncertainty still give no respite to many trade sectors. The movement of people from one country to another was perhaps the hardest hit, as far as both leisure and business were concerned.
According to Confturismo-Confcommercio and Assoturismo Confesercenti, in the June-August quarter, the nights´ stay in official hospitality facilities in Italy reached 148.5 million euros, over 65 million less than 2019 (-30.4%), with a larger drop in hotel facilities (-32.6%) than in other types of facilities (-27.5%). The sector could close 2020 with losses estimated at 100 billion euros.
But everything isn´t gloomy. At the end of the lockdown, Italy became a ´safe asset´, with the discovery of proximity tourism. The trade members at TTG 2020 are restarting from here. The request of the tourism system is to come through the emergency phase and open up to new prospects. It is not only a case of recovering pre-Covid figures, but understanding which corporate strategies are now obsolete and how to adapt to the change. Trade members have already rolled up their sleeves.
FOCUS ON ITALIAN EXHIBITION GROUP
Italian Exhibition Group (IEG), listed on the Screen-based Share Market (MTA) organised and managed by Borsa Italiana S.p.A., is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in Milan and Arezzo. The IEG Group is notable in the organisation of events in five categories: Food & Beverage; Jewellery & Fashion; Tourism, Hospitality and Lifestyle; Wellness, Sport and Leisure; Green & Technology. In the last few years, IEG started a significant expansion process abroad, also through the conclusion of joint ventures with local operators (for example, in the United States, Arab Emirates and in China). IEG closed the 2019 financial year with consolidated total revenues of 178.6 million, an EBITDA of 41.9 million and a consolidated net profit of 12.6 million. In 2019, IEG totalled 48 organised or hosted fairs and 190 conferences. www.iegexpo.it
This press release contains forecast elements and estimates that reflect the management´s current opinions (´forward-looking statements´), particularly regarding future management performance, realization of investments, cash flow trends and the evolution of the financial structure. For their very nature, forward-looking statements have a component of risk and uncertainty, as they depend on the occurrence of future events. The effective results may differ (even significantly) from those announced, due to numerous factors, including, only by way of example: food service market and tourist flow trends in Italy, gold and jewellery market trends, green economy market trends; the evolution of raw material prices; general macroeconomic conditions; geopolitical factors and evolutions in the legislative framework. Moreover, the information contained in this release, does not claim to be complete, and has not been verified by independent third parties. Forecasts, estimates and objectives contained herein are based on the information available to the Company as at the date of this release.