Wednesday, June 28, 2023
In Italy, trade fair tourism has a production value of over 10 billion euros a year, corresponding to an added value of 4.8 billion euros.
This calculates into an employment impact estimated at around 90,000 employees. In other words, every euro spent by visitors to events generates 2.4 euros in production and 1.1 euros in added value for the national tourism economy.
This is what is estimated by the Prometeia-Aefi (Italian Exhibition and Fair Association) report presented at the Temple of Hadrian in Rome on the occasion of World Fair Day and the 40th anniversary of the association.
According to the consultancy firm, which for the first time has carried out a study on the impact of trade fair tourism in Italy, travel linked to the segment triggers an annual expenditure of tourist goods and services of 4.25 billion euros a year (including 204 million in consumption taxes), creating added value of almost 2 billion euros.
Added to this are 1.5 billion of GDP linked to the indirect impact on companies “upstream” of the tourist supply chain and an induced benefit (deriving from the consumption of employees in the activated supply chain) equal to another 1.4 billion euros of added value.
A form of travel – the trade fair – which, according to Prometeia estimates, accounts for 4% of the entire “typical” tourist expenditure made in Italy, is thanks to the 20 million visitors registered each year (2.5% of the total tourist trips in Italy).
The value of the direct annual production of Italian trade fairs instead stands at 1.4 billion euros, with 3,700 direct employees.
There are 267 international events and 264 national/local ones expected in 2023, with visitor flows that should return to pre-pandemic levels (about 20 million certified visitors, of which 1.5 million from abroad).
The average stay is almost one night per visitor, which rises to 2.5 nights for foreigners, while the average expenditure is 170 euros per day (235 euros for foreigners).
According to Giuseppe Schirone, Coordinator of the Prometeia team that carried out the impact study that the exhibition industry continuously attracts high-spending tourism with a daily spending budget of exhibition visitors 60% higher than that of the average tourist.
Already today it contributes significantly to the overall tourist economy: in terms of employment, for example, 47,000 euros in tourist expenses for trade fair visitors corresponds to a job in the national supply chain.
And some simulations conducted during the analysis – based on the high estimated multiplier effects – suggest that the ‘tourist potential’ of fairs is not yet fully exploited.