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Luxury tourism may be worth 100 billion, but the Chinese are needed

According to Altagamma, elite tourism is worth 25 billion in direct consumption, which rises to 60 if we count related industries. “But it would have a potential of 100 billion”, claims the president Matteo Lunelli. The Chinese love Italy, but perhaps not as much as it once was

Luxury tourism may be worth 100 billion, but the Chinese are needed

It will also be niche, in fact it involves less than 1% of the total of Italian tourism companies and 3% of nights, but its impact in economic terms is increasingly significant. Let's talk about luxury or high-end tourism whatever you want to say: tourism that involves 80% of Scrooges foreigners (increasingly Asian), who spend an average of 5.000 euros per person per stay (nine times more than the average traveller), who stay in hotels 5-star hotels or in villas or yachts, who love Italy above all for its cities of art, to the point of visiting them almost annually, but less and less for the sea. Our seaside resorts are in fact only in fourth place among those preferred by the new rich in the world (the Amalfi coast is always at the top but it is behind the French Riviera, the Maldives and Hawaii), while the cities of art are in first place and Italy is generally the Country most desired by high-end travellers, even if not the most visited: we are third, behind France and Great Britain.

We could therefore do better, but according to the data reported in the book “Turismo di Alta Gamma. Strategic lever for Italy”, published by Altagamma, we don't even do a little. High-end tourism is worth today 25 billion euros of direct consumption (of which 2 billion euros for catering and 14 billion euros for visits/excursions/shopping), with a multiplier effect of more than three times: in fact, tourists normally spend 58% on shopping and catering, while high-end tourists they spend as much as 72% with an increase in value for the area of ​​14 percentage points. In short, top tourism generates 15% of the total hospitality turnover and 25% of the total tourist expenditure. But considering related industries, the figure reaches 60 billion euros, i.e 3% of GDP. Appropriately boosted, according to Altagamma, elite hospitality can grow up to 100 billion in direct value, to which are added the positive spin-offs on the local area.

“A further development of high-end tourism – he comments the president of Altagamma Matteo Lunelli – can therefore lead to an exponential growth of related industries and become a strategic lever for the country's growth. In this phase of recovery and reconstruction of tourist flows, we believe it is urgent to define, within the government's strategies, a specific plan for the upward repositioning of the Italian tourist offer". Altagamma suggests nine key elements for a winning strategy: Quality and diffusion of excellent hotels and iconic residences; Diversified tourist offer and personalized experiences; Innovative and exclusive mobility; New digital communication plan for the top of the range; Network of tourist training schools; Seasonal adjustment through events/new destinations; Tax exemption for smart living in Italy; Repositioning for destinations of primary interest; Acceleration plan for Asian/Chinese tourists.

In fact, it is precisely the Asian tourists, increasingly numerous and increasingly wealthy, who are a little worrying. In fact, 80% of Chinese billionaires have never been to Italy yet and for the Chinese luxury travellers Italy is first on the wish list only as an art city destination, but it is not among the top 4-5 countries in any of the other types of travel, i.e. sea, countryside, big cities and mountains. In general, we are always at the top in terms of preferences in terms of food and wine and cultural experiences, but according to Altagamma we are behind on yachting, cycling itineraries, spas/wellness centers and golf. Yet the room for improvement would all be there and should be exploited: a single high-end tourist spends on average, in a year, more than 20.000 euros on luxury travel, excluding transport, and over 15.000 euros on shopping for luxury goods in the course of the trip. Your favorite places in Italy? Milan more than Rome, the Amalfi coast and Capri more than the Costa Smeralda, Cortina d'Ampezzo just in front of Madonna di Campiglio.

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