Blog

🚢 The Italian Official Gazette No. 222 published the implementation regulation of the recreational boating code, awaited for four and a half years. It activates reforms for the boating sector, including significant simplifications. The regulation required the coordinated signature of 14 Ministers, with contributions from Confindustria Nautica towards easing processes for companies and users. It addresses small boating and superyachts, covering registration, mooring, safety equipment, and introduces a long-awaited boating license for 16-year-olds. For more details: www.confindustrianautica.net.

💸 Booking.com hit by the Court of Justice of the European Union ruling: clauses of parity with hoteliers deemed neither 'necessary' nor 'proportionate'. The judgement annuls the ban on offering lower rates through other channels and requires removing restrictions that hinder competition among booking platforms, affecting smaller or emerging ones. Spain has fined Booking €413 million, highlighting the penalty's positive impact on businesses, with Booking having almost a 90% market share in some years.

🏖️ Nearly 790 million tourists traveled internationally in the first seven months of 2024, an 11% increase from 2023, reaching 96% of pre-pandemic levels. Europe and the Americas recovered 99% and 97% of pre-Covid arrivals, respectively. The Middle East saw the strongest relative growth, with international arrivals up 26% from 2019 levels. 67 out of 120 destinations reported recovery to 2019 arrival numbers by mid-2024. Notable increases in tourism revenue include Albania (+128%) and Serbia (+126%) compared to the same period in 2019. International tourism export revenues hit $1.8 trillion in 2023, with the direct GDP contribution from tourism reaching $3.4 trillion, or 3% of global GDP. United Nations tourism confidence index reflects positive expectations for tourism performance in late 2024.

🏦 Starting February 1, 2024, Italy's tax-free shopping threshold was lowered from €154.95 to €70.01, resulting in a 43% increase in transactions, a 5% rise in spending, and over 300,000 new shoppers in the €70-€155 bracket. Secondary locations contributed 26% to tax-free shopping, with a notable 53% decrease from the four major cities (Milan, Rome, Florence, Venice). Cities like Catania (72%) and Como (67%) led in transaction growth. Retail and local crafts saw a 54% increase in transactions and a 12% rise in spending, with an average receipt of €111. Leather goods and bags surged by 57% in transactions and 18% in spending, footwear jumped by 79% and 26%, and perfumes and cosmetics by 141% and 4%, respectively.