Distribuzione e Revenue

🏖 In 2023, Italy's tourism expenditure hit a record €155 billion, translating to €368 billion in added value, as announced by Tourism Minister Daniela Santanchè in Florence. The sector accounts for 18% of the GDP, according to Fondazione Tor Vergata for Mitur, based on data from the Bank of Italy.

📍 Bari and Brindisi airports in Puglia surpassed 9 million passengers in the first 10 months, an over 9% year-on-year increase. Bari's growth hit 10.7%, reaching 6.3 million passengers. International routes jumped 17.4% to 4.2 million passengers compared to 2023. Antonio Maria Vasile, president of Aeroporti di Puglia, highlighted these "extraordinary numbers" despite challenging geopolitical circumstances.

📍 In 2024, Egypt saw a 5% year-over-year increase in inbound tourist arrivals. Sherif Fathy, the Minister of Tourism and Antiquities, at Wtm London, aims for 30 million tourists by 2028 and announces new developments, including the opening of the Grand Egyptian Museum. Hotels opening: Hyatt Centric Cairo West, Four Seasons Hotel Luxor (2025), two IHG Hotels & Resorts near Cairo (2026, 2028), the luxury Cairo House, and the Rixos hotel in New Alamein City. EasyJet will introduce UK flights to Luxor, Hurghada, and Sharm El Sheikh.

📍 Singapore Airlines invests over $1 billion to revamp the interiors of 41 long-haul A350-900 aircraft, including creating first-class cabins with 4 suites and enhancing business class suites for privacy and comfort. The cabin design will match that of the 31 Boeing 777-9s on order. The first redesigned A350-900 is set to enter service in Q2 2026, with the first A350-900ULR in Q1 2027, and project completion by the end of 2030.

🏖 Greater Miami Convention & Visitors Bureau (GMCVB) reported a satisfying year from October 2023 to September 2024, with visitors contributing over $20.6 billion to the local economy, marking a nearly 3% increase. The GMCVB sales and convention services team exceeded goals by achieving 103% of their booking target, generating over 406,000 room nights, reaching 111% of their goal. In August 2024, Miami International Airport recorded 10.6 million international visitor arrivals, a 9.6% increase from 2023, and PortMiami is expected to exceed 7.3 million cruise passengers. David Whitaker, president and CEO of GMCVB, noted the capture of 16 major new conventions and fairs, a 13% increase in travel from their top 10 international markets, and the addition of 250 new members, totaling 1,111 bureau partners. Julissa Kepner emphasized GMCVB's strategic vision focused on sustainability, technology, and key infrastructure investments.

🏖️ India, China, and the United States will dominate the global tourism market by 2040 according to the 'Travel 2040' report by Google and Deloitte. By 2040, there will be 2.4 billion international travelers, 60% more than today. Indian travelers' growth is set to increase fivefold over the next 15 years, with a current trend of booking international flights less than 50 days in advance. The United States will remain a key player, with up to 40% of travelers today preferring extra-European destinations, and 78% willing to pay more for a famous tourist brand. By 2040, Spain will surpass France as the most visited country, followed by Mexico, and tourism in the Middle East, particularly in the United Arab Emirates and Saudi Arabia, will significantly grow.

🏠 Italian Hotel Monitor data for Q3 2024 shows the Italian tourism industry recording positive outcomes, with room occupation increasing from 78.3% to 78.7%, and average room prices jumping from 140.15€ to 151.47€ (+8.1%). The rise is attributed to a resurgence in business tourism and a surge in international visitors, notably from the U.S. Luxury and premium accommodations are in high demand among these tourists. Comparing with 2023, the upscale (4-star) sector saw ADR rise by +6.7% and R.O. by +0.6 points, while luxury (5-star) enjoyed ADR growth of +8.2% and R.O. increase of +1.4 points. The midscale (3-star) segment also noted nearly a ten-point price hike (+9.7%) and a +0.2 point R.O. uplift. Among 39 monitored cities, 32 surpassed the 70% room occupation rate, with Rimini leading at 89.3%. Venice remains the most expensive city with an average room price of 262.92€, a +6.9% increase from the previous year.

💰 Domestic flight booking intentions for Christmas in Italy decreased by 39% compared to 2023, while bookings from continental travelers to Italy by air dropped by 14%. Internals flights hold the largest market share at 19.4%, with the United States representing the second-largest tourist market at 17.7%, followed by the UK at 9.5%. Top cities for hotel stays are Rome (48.4%), Milan, Florence, and Venice. Italians will spend an average of 843 euros on Christmas travel and 525 euros on entertainment and experiences. 📉

🏖️ 71% of Italians plan to vacation during Christmas, with 38% staying away up to 3 days, 25% for 3-5 days, 21% for a week, and 14% for 8-15 days. Nearly half choose family holidays (46%), followed by couple (29%), friends (18%), and solo trips (7%). Top national destinations: Milan, Naples, Rome, Catania, and Turin; top European cities: Paris, Vienna, London, Prague, Amsterdam; top non-European locations: New York, Sharm El Sheikh, Istanbul, with Dubai and the Maldives in the mix. More at www.jetcost.it.

🐔 Aretè highlights a 15% surge in EU egg prices since August 2024, reaching €223/100 Kg, the highest level since January 2024 and 32% higher than the 2019-2023 average. This is due to increased seasonal demand and avian flu outbreaks, with 128 cases in the EU since the start of the year, compared to 356 in 2023. Cacao bean prices on the London financial market reversed a declining trend, rising by 3% between September and October, and are now 72% higher than in October 2023. Q3 2024 grinding of cacao beans showed a 1% increase both over Q2 2024 and Q3 2023, despite a slight decrease in Europe.