Tourism in Italy: Growth in Defaults and Difficulties in Payments for 2024
At the end of 2023, the default rate of joint-stock companies in the Italian tourism sector remained stable at 4.1%, but an increase of between 1.2 and 1.3 points is expected percentages by the end of 2024. According to Pambianconews, this value is higher than the national average, which stands at 2.6%.
In detail, restaurants and bars are the most vulnerable, with a default rate of 5%. Furthermore, financing to tourism companies decreased by 1.4% in the first quarter of 2024 compared to the previous year, a less marked decline than the average of Italian companies (-3.6%). Commercial payments show that the tourism sector is performing below the national averagewith 20% of on-time payers and 17.4% of payments over 30 days late. Travel agencies and hotels perform better than restaurants and bars in terms of payment punctuality.
The Italian tourism sector has over 400,000 businesses, 97% of which operate in the catering and hospitality sectors. Most businesses are sole proprietorships (41%), followed by joint-stock companies (33%) and partnerships (25%). More than a third of businesses are located in the South and the islands, with Lombardy, Lazio and Campania as the regions with the highest concentration of tourism activities.
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