Trieste – The tertiary sector of Friuli Venezia Giulia closes 2023 with a record year, driven by the tourism boom which confirms itself as the locomotive of the regional economy. This is what emerges from the Observatory curated for Confcommercio Fvg by Format Research.
Tourism in mind
In the fourth quarter of 2023, the revenues of FVG tertiary companies improved, with tourism as the driving force. The sector has recorded an increase of 71% in foreign tourists and 30% in Italian tourists in the last two years. Expectations for 2024 are positive, with operators expecting a further 23.9% increase in foreign tourists.
Trade and transport in difficulty
Bucking the trend for tourism, non-food retail and transport and logistics are struggling. Credit tensions persist, but almost 35% of Fvg tertiary companies still requested credit to make investments.
Climate of trust
Business sentiment towards the performance of the Italian economy and its own business remains stable. Expectations for the next three months are positive.
Prices and employment
The situation of the prices charged by suppliers to Fvg tertiary companies remains worrying. The employment picture is stable, with the data expected for the beginning of the year falling within the expansion area.
Credit supply and demand
The share of Fvg tertiary companies that requested credit in the fourth quarter of 2023 increased slightly. Negative responses from banks increased, but 34.8% of companies requested credit to make investments, a sign of confidence for the future.
FVG tourist destination all year round
Friuli Venezia Giulia confirms itself as a tourist destination for all months of the year. Over the last ten years, there has been a shift in the revenues of tourist accommodation companies from the summer season in favor of winter and spring. Farmhouses record a +10% revenue in spring.
Conclusions
The Friuli Venezia Giulia tertiary sector closed 2023 with a record year, driven by the tourism sector. Friuli Venezia Giulia confirms itself as a highly attractive tourist destination all year round.
Expectations for 2024 are positive, despite the difficulties in some sectors and credit tensions.
