tourism-italia.com

According to the npr website, the economic slowdown has finally hit Italy with the tourism sector shrinking by 25% since 2008. Apparently it is the Americans who the Italians are missing the most as data from the Bank of Italy shows that there were 2.5 million American tourists in 2006 compared to just 1.75 million in the first nine months of last year. This is worrying news as the tourism industry is worth 10% of Italy’s GDP and 150,000 people who were dependent on tourism have already lost their jobs. With a lack of italia.it website and fewer local tourists, Italy may not have seen the worst of this recession yet. However, more people may now be able to visit Italy with big brands having to cut their prices!

Forecasts predict that Silvio Berlusconi has won his third term in office. Now what will this one-man powerhouse do to encourage growth in our economy? As I have previously pointed out, there are less Italians willing to part with their cash as local tourists so something has to be done to improve the situation. Seeing as Berlusconi runs media, insurance and marketing companies, among others, can he lead the way and encourage more Italians to enjoy the delights of their own country? Berlusconi has promised tax cuts and handouts so maybe these will help. We will not always be able to rely on foreign tourists to boost the tourism trade.