Confcommercio, collapse in consumption in 2020, lost 126 billion euros – Economy

“With an overall decline in consumption of 11.7%, equal to over 126 billion euros, 2020 recorded the worst data since the second postwar period, a figure which is weighed down by the 60.4% reduction in spending by foreign tourists, equal to a loss of approximately 27 billion, 23 of which concentrated mainly in the regions of the Center-North, with Lazio and Tuscany in the lead “. from the report of Confcommercio on consumption 2019-2021 and in which it is emphasized that the collapse in demand led, on average, to “a loss of over 2,000 euros each” compared to 2019, bringing consumption back “to 1995 levels”. For 2021 Confcommercio expects an increase in domestic consumption of 3.8%, warning however that the forecasts remain “very cautious”, especially due to the “unknowns on the restart of international tourism”, with the consequence that, in absolute value, the per capita, on average, “will not be able to recover even a third of what was lost during the pandemic”.

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Confcommercio collapse consumption lost billion euros Economy

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