According to a March 2021 study, the revenue of hotels in Italy decreased by 50.4 percent in 2020 over the previous year. Meanwhile, food and drink services experienced a 40.3 percent year-on-year revenue drop.
The study also predicted the revenue change for 2022 by analyzing two different scenarios. The baseline scenario considered a gradual recovery during the second half of 2022, meanwhile, the worst-case scenario accounted for a slower recovery. In the worst case scenario, revenue in the hotel sector was predicted to fall by 28 percent in 2022 when compared to 2019.
Estimated change in revenue of the tourism industry due to the coronavirus (COVID-19) pandemic in Italy in 2020, with a forecast for 2022, by sector
Characteristic
2020 vs. 2019
2022 vs. 2019 (baseline scenario)*
2022 vs. 2019 (worst-case scenario)**
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*Baseline scenario: herd immunity is reached in autumn; restrictions are gradually loosened; recovery funds are efficiently implemented; economy starts to bounce back in the second half of 2021; GDP and revenues recover although at lower level than 2019.
**Worst-case scenario: vaccination campaigns are delayed; travel and tourism restrictions are still applied; there are delays in implementing recovery funds; economy recovers at a slow pace; GDP and revenues are at significantly lower levels than 2019.
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Cerved. (March 25, 2021). Estimated change in revenue of the tourism industry due to the coronavirus (COVID-19) pandemic in Italy in 2020, with a forecast for 2022, by sector [Graph]. In Statista. Retrieved July 21, 2024, from https://www.statista.com/statistics/1242872/revenue-change-tourism-industry-due-to-covid-19-italy-by-sector/
Cerved. "Estimated change in revenue of the tourism industry due to the coronavirus (COVID-19) pandemic in Italy in 2020, with a forecast for 2022, by sector." Chart. March 25, 2021. Statista. Accessed July 21, 2024. https://www.statista.com/statistics/1242872/revenue-change-tourism-industry-due-to-covid-19-italy-by-sector/
Cerved. (2021). Estimated change in revenue of the tourism industry due to the coronavirus (COVID-19) pandemic in Italy in 2020, with a forecast for 2022, by sector. Statista. Statista Inc.. Accessed: July 21, 2024. https://www.statista.com/statistics/1242872/revenue-change-tourism-industry-due-to-covid-19-italy-by-sector/
Cerved. "Estimated Change in Revenue of The Tourism Industry Due to The Coronavirus (Covid-19) Pandemic in Italy in 2020, with a Forecast for 2022, by Sector." Statista, Statista Inc., 25 Mar 2021, https://www.statista.com/statistics/1242872/revenue-change-tourism-industry-due-to-covid-19-italy-by-sector/
Cerved, Estimated change in revenue of the tourism industry due to the coronavirus (COVID-19) pandemic in Italy in 2020, with a forecast for 2022, by sector Statista, https://www.statista.com/statistics/1242872/revenue-change-tourism-industry-due-to-covid-19-italy-by-sector/ (last visited July 21, 2024)
Estimated change in revenue of the tourism industry due to the coronavirus (COVID-19) pandemic in Italy in 2020, with a forecast for 2022, by sector [Graph], Cerved, March 25, 2021. [Online]. Available: https://www.statista.com/statistics/1242872/revenue-change-tourism-industry-due-to-covid-19-italy-by-sector/
