Confcommercio, collapse in consumption in 2020: lost 126 billion, 2 thousand euros each

Heavy drop in foreign tourists – The numbers for 2020 are affected by the 60.4% reduction in spending by foreign tourists, which corresponds to a loss of approximately 27 billion, 23 of which concentrated mainly in the Centronord Regions, with Lazio and Tuscany in the lead.

Major losses in Centronord – The reduction in consumption has had different trends in the territory: the most penalized areas are the North and the Center, with the greatest losses, equal to more than 15%, in Veneto and Valle d’Aosta, while the South recorded slightly less dynamics negative, according to Confcommercio. In the last two months of 2021, however, “the reopening of activities and the elimination of many restrictions on mobility” led to an increase in consumption (+ 14.2% in May), consolidating the recovery of GDP (+2.9 % in June).

Signs of cautious recovery – These numbers could mark the start of a less difficult phase, even if the gap with respect to pre-Covid levels is still very large and the forecasts for 2021, albeit with consumption recovering by 3.8%, remain very cautious, especially for the unknowns on the restart of international tourism. The consequence is that, in absolute value, the average per capita expenditure will not be able to recover even a third of what was lost during the pandemic.

Source

Confcommercio collapse consumption lost billion thousand euros

NEXT Salone del Mobile Milano: the new digital platform is online