The spending items of foreign tourists visiting Italy change. Today they are above all in search of experiences, to discover the peculiarities of the Belpaese to experience unique moments. Shopping still retains its importance but foreign guests who have visited Italy in recent months have started to spend a lot on unique experiences. In fact, in our country, spending on experiences by tourists increases by 114%, marking a clear gap with that destined instead for the purchase of material goods (+12%). This is what emerges from the Travel Industry Trends 2023, a report prepared by the Mastercard Economics Institute which offers interesting useful elements for understanding the evolutions, the interests of tourists and their spending habits in the first quarter of 2023. The growing weight of purchases thus stands out experiential. A new custom that especially appeals to Chinese tourists. For them, luxury shopping gives way to the purchase of unforgettable experiences in the main Italian destinations which include Rome, Florence, Milan, Venice and Naples. Those arriving from Beijing conquer the primacy of experiential purchases but Italians also appreciate this new type of consumption. «After more than two years of uncertainty, the travel sector is showing important signs of recovery. The trend in favor of the experiential economy is consolidating, which in Italy can be reflected in a tourist offer of excellence made up of secular traditions, passions, territorial uniqueness and major international events capable of giving tourists memorable experiences – explains Michele Centemero, Country Manager Italy of Mastercard -. In this context, the attractiveness of the Italian territory, combined with the quality offer of companies linked to tourism, are undoubtedly favorable elements for the recovery of this fundamental sector for the country’s economy, despite the fact that some important challenges remain on the horizon”. . And according to the forecasts of the report, Italy will be among the most popular destinations for European travelers in spring and summer 2023, attracted by the charm of Italian beaches.
Chinese tourists looking for experiences
Italy is among the top destinations of 2023 and takes fourth place among the most popular ones for European tourists and sixth place for those arriving from North America. With the restart of flights from China, Mastercard analysts predict a massive return of tourists from Beijing, traditional shopping big spenders, especially for clothing and food products compared to catering and hospitality. Among the novelties of the year now there is their desire to live unique, unforgettable experiences. This trend is confirmed in the main Italian tourist destinations – Naples, Rome, Milan and Venice – where spending on experiences is in first place with an average of +96% compared to 2019, followed by that for material and luxury goods. Standing out among the most exclusive destinations is Positano, known as the pearl of the Amalfi coast, which recorded a record 283% in experience spend compared to 2019 levels. The pearl of the Amalfi coast offers experiences of all kinds, from boat tours to kitchen or on the preparation of limoncello as well as tours to discover the area that fascinates tourists. Now with the massive return of visitors from mainland China, demand is expected to shift towards discretionary services, such as tourism, hospitality and experiences, and travel-related goods. “So despite the love of shopping, we expect mainland Chinese travelers to spend more on experiences rather than things after a zero-Covid environment,” Centemero reports. Luxury travel experiences, including the splurge for top accommodation and luxury travel in destinations like France and Italy, are likely to attract mainland Chinese tourists emerging from a Covid-free environment to rejoin the experience economy ». As far as European guests are concerned, the main wishes are for a journey of full cultural immersion, with the charm of lesser-known destinations and sustainable experiences. Thus in Italy, in March 2023, spending on experiences increased by 114% compared to the same month in 2019, while spending on the purchase of material goods grew by only 12% in the same period. The same goes for the purchases of Italians: in particular, among the main categories of expenditure in 2023, Italians give priority to the purchase of accommodation (21%) and restaurants (11%), to the detriment of material goods such as, for example, petrol and consumer goods (-13%), household products (-5%) and electronics (-3%), whether these are in-store or online purchases.
Business travel starts again
Among the Mastercard analyzes emerges the recovery of business travel which from the second half of 2022 will grow at the same rate as leisure travel, with business flight bookings catching up with respect to consumer ones, driven by countries where there is a lower diffusion of the smart working, including Italy. The most significant growth is that of spending on corporate travel and entertainment events led by Asia Pacific and Europe, respectively increasing by 64% and 42% between January and March 2023. Looking at the incoming flows, Italy is one of the major global destinations, especially for tourists from Europe, North America, the Middle East and Africa (respectively ranked 4th, 8th and 10th in the Top 10 Preferred Travel Destinations). As far as outgoing flows are concerned, different trends are recorded depending on whether they are travel for pleasure or for business. In the first case, in fact, Italians prefer long and medium-haul flights, which thus return to exceed pre-pandemic levels. Among business flights, on the other hand, long-haul bookings particularly increased starting from the month of December, following the reopening of China and the return to the office.