Summer 2022 finally marks the return of non-European tourists to Italy. This is confirmed by the data on tax free spending, a tax advantage reserved for non-European citizens with a receipt exceeding 154.94 euros.
Recovery underway but below 2019 levels. Americans lead
According to the Intelligence report of Planet – a company that operates in the integrated payments sector, including VAT refunds – in June 2022 the expenditure of non-EU tourists in our country increased by more than 100% compared to the same month of 2021. growth exceeds 100% even by extending the reference period of the first half of 2022.
The recovery, therefore, exists. Yet the monthly figure is down by 33% compared to June 2019 (-56% on the first half). The reasons for the non-recovery, however, are easily traceable: Chinese citizens, who at the time absorbed just one third of the value of tax free purchases in Italy, continue to be blocked at home due to the travel ban in force since 2020.
Among the top spenders in Italy there are the Americans – who currently benefit from a particularly advantageous euro-dollar exchange rate – and the British. Also in June, compared to the same month of 2019, the highest average receipt is that of the Americans (1,407 euros) followed by the United Kingdom (1,402 euros), India (803 euros), Singapore (1,430 euros) and Brazil (1,062 euros) EUR). The report highlights that among the most dynamic buyers there are young people from the United Kingdom: the exponents of Gen Z with British nationality on average spend € 1,715 in Rome, € 1,486 in Milan and € 1,384 in Florence.
Capri, Porto Cervo and Portofino fully recover
The recovery is confirmed by Global Blue, the main tax free operator in Europe. The estimates of the Swiss company focus on the Italian localities most loved by foreigners – Capri, Porto Cervo, Portofino, Forte dei Marmi, Taormina – which in June 2022 fully recovered (124% compared to 2019) the share of purchases for which it is VAT refund was requested. The average receipt also rose (+ 30%) to 1,651 euros (+ 30%). Americans, Arabs and British are the top spenders in this restarting summer. Americans alone are worth more than a third of international arrivals in Italian summer resorts, but it is the Arabs who record the highest average receipt after the Chinese, who however account for just 3% of total admissions.