Italy's tourism and travel sector could almost reach pre-epidemic levels by 2023, an estimated 0.3% difference from 2019, according to a recent report by the World Travel and Tourism Council (WTTC).
The sector could contribute 194 billion euros to the country's GDP next year, with employment rapidly increasing to meet growing needs.
The report also predicted that the sector will grow at a rate of 2.5% per annum over the next decade, resulting in more than 53,000 new jobs being increased each year. The sector is expected to be worth more than €226 billion by 2032.
This year, italy's tourism and travel sector's contribution to Italy's GDP is expected to grow by 8.7%, just below 10% of the country's GDP this year. Employment is expected to grow by 2% this year, for nearly 2.7 million people.
By comparison, the sector's contribution to the country's GDP was 10.6% in 2019. Approximately 2.9 million Italians have been employed in tourism and travel.
Julia Simpson, President and CEO of the World Travel and Tourism Council, said: "The epidemic has been disastrous for Italy's travel and tourism sector, wiping out billions of dollars in the economy as companies collapse and thousands lose their jobs. After two very difficult years, the prospects are now brighter. The travel and tourism outlook provides a huge boost, not only for Italy's general economy, but for the creation of new jobs."