“The latest socio-economic data from Veneto are encouraging signs. Starting from the projections on Gross domestic product: Prometeia estimates growth of 0.8% in Veneto’s GDP for 2024, compared to an increase in Italian GDP of 0.7%. Even looking ahead to 2025, the numbers are favourable: the growth estimate for the Veneto economy is +1% against the national 0.9%. Veneto is doing well, despite the negative effects of geo-political tensions. Among the driving sectors of the regional economy, tourism numbers should be highlighted. If 2023 was an exceptional year, with increases that even exceeded the record figures of pre-pandemic 2029, the start of 2024 is also very positive, with a +6.8% of arrivals and a +6.0 % of attendance in the first two months of the year compared to the same period in 2023″.
The says it President of the Veneto Region presenting the data from the “Veneto socio-economic bulletin” of April 2024 produced by the Regional Statistical Office, where the main economic and social economic indicators relating to the region are reported.
In detail, speaking of tourism, the data on 2023 flows are positive: compared to the previous year, arrivals grew by 16.1%, while presences grew by 9.1%. The pre-pandemic 2019 figures were exceeded, with a +4.3% of arrivals and +0.9% of attendance.
The data relating to the job market. 2023 was a positive year, recording employment growth after a long period of the opposite sign. Compared to 2022, last year saw a +3.7% of employed people in Veneto with over 80 thousand more jobs than in 2022. Female employment is rising: +4.9% in one year. The employment rate is growing: in Veneto it went from 58.5% in the early nineties to the 65% recorded at the beginning of the new century to 70.4% today, with a boost in the last year in which the rate rose by 2.6 percentage points. At the same time, the unemployed and inactive are decreasing: compared to 2019, the unemployed decreased by 23.5% and the inactive by over 8%. In the last year the inactivity rate in Veneto was 26.4% compared to the Italian figure of 33.3%, lower than that of 2022 by almost three percentage points and lower than that of 2019.
The Venetian NEETs are in sharp decline: in 2023 there will be around 75,300, a fifth less than last year, impacting the total of 15-29 year olds by 10.5% in 2023 compared to 13.1% the previous year. These are numbers that put Veneto on the podium among the Italian regions, ranking third on equal merit with Umbria (first: Trentino Alto Adige with 8.8% and Valle d’Aosta with 9.9%). This brings the European target of a maximum share of 9% by 2030 ever closer.
With regard to export the data paint a scenario of substantial stability for 2023 compared to the previous year: the production units present in Veneto export goods for 82 billion euros at current values, equal to 13.1% of national exports. It is the third region after Lombardy (26.1%) and Emilia-Romagna (13.6%).
Finally, a look at household consumption and gross fixed investments: in Veneto an increase of 1.3% and 4.8% respectively is expected in 2023. In 2024 it is expected that Venetian household consumption will grow by 0.7%, while gross fixed investments will suffer a contraction (-1.5%).
