The boom of American tourism to Italy, fueled by a strong dollar and improved air travel connections, is projected to decelerate in the near future. The forthcoming 2024 presidential elections are likely to contribute to a temporary slowdown in American travel. Hospitality operators are shifting their focus towards high-spending markets like India and China to counterbalance any potential decrease in US tourists.
The cyclical nature of reduced travel during election periods is well-known, prompting strategic efforts to attract visitors from Hong Kong, South Korea, Indonesia, and China. To mitigate the impact, Italy is exploring other niche markets such as India, Hong Kong, Myanmar, and Indonesia. The overall impact of elections on American travel behavior remains a subject of debate, as some experts believe that economic conditions and favorable exchange rates will continue to be the primary factors influencing demand from the United States.
According to Massimiliano Schiavon, President of Federalberghi Veneto, a slight downturn in the number of American tourists can be expected next year. This phenomenon occurs as Americans tend to limit their travel during election periods, adhering to a cyclical trend that the industry has come to understand. In response, hospitality operators are strategizing to redirect their focus and reposition their offerings to appeal to other lucrative markets.
Giuseppe Roscioli, President of Federalberghi Roma, supports this notion, stating that approximately six months before elections, American travelers typically begin to restrict their movements. However, he assures that any potential slowdown in American tourism will be balanced by an upsurge in visitors from other regions. Hong Kong, South Korea, Indonesia, and particularly China are expected to contribute significantly to Italy’s tourism industry. Furthermore, Roscioli predicts that the South American market will also witness increased visitation, with Brazil and Mexico already displaying positive performance. While the overall volumes are yet to reach pre-pandemic levels, this growth is encouraging for the industry.
