During the Arezzo Economy Day, the main economic indicators of the province of Arezzo and the Arezzo 2030 Report were presented
The Economy Day organized by the Arezzo-Siena Chamber of Commerce was held this morning at the Arezzo Commodity Exchange, during which the main economic indicators of the area were presented.
The Day was an important opportunity for analysis and comparison on the state of health of the economy of the Arezzo area through the contributions of the President and the Secretary General of the Arezzo-Siena Chamber of Commerce Maximum Gascons e Mark Randellini.
The IRPET Director also spoke Nicholas Sciclone who outlined the economic situation of the Tuscan economy and the Councillor for Economy and Tourism Leonardo Marras which focused on the performance of the production system and the dynamics of regional foreign trade.
As regards the provincial analysis, after the brilliant result recorded in 2022 (+6.3%), the 2023 added value data shows clear signs of slowdown. The Chamber of Commerce’s elaborations on Prometeia’s estimates place it at 10.6 billion euros at current values, with growth in real terms falling to +0.5% compared to 2022 due to the decline in industry (-2%) and the slowdown in services
(+1.8%), while construction continued to register strong growth (+10.8%), as did agriculture (+13%).
In the 2024always according to the Chamber of Commerce/Prometeia elaborations, provincial added value should show moderate growth (+0.8%) with a different sectoral trend compared to the previous year: the tertiary sector has a similar trend to 2023 (+1.4%), industry is stable (-0.1%), Agriculture is always positive (+10.1%) while there is a strong slowdown in the construction sector (-5.1%) due to the reduction of eco-bonuses.
On the front of theoccupationas regards employed people, a growth of 3% is expected in 2023, which will then slow to +1.7% in 2024. Turning to work units (ULA), a unit of measurement of the volume of work performed, a similar trend is seen: for 2023, a growth of 3.1% is recorded, which will then go to +1.5% this year.
Positive data on the matter to the trend of disposable income of Arezzo families: 2023 shows an increase of 4.4% which should also be confirmed during 2024 (+3.7%).
The final consumption expenditure of households is the liveliest indicator for 2023: estimates indicate a 6.9% increase compared to 2022. The data is certainly affected by inflationary dynamics but is representative of an effective recovery in consumption, especially in the services sector. Estimates for 2024 remain positive, but with a less brilliant trend (+2.8%).
The contribution of exports to the provincial economic system is always significant: Arezzo is confirmed in 2023 as the second province in Tuscany for turnover from export activities with 18.7% of the regional total, preceded only by those of the province of Florence (35.5%) and if we consider the level of incidence of exports on the added value with 104.1% it records almost double compared to the second province (Siena, 54.3%) and the regional average (45.2%).
The related data for export in the first quarter of 2024 show particularly strong growth equal to 3 billion and 523 million euros with an increase in the period January-March 2023 of +33.2%.
A result attributable above all to Jewelry which, reaching 1 billion and 845 million euros, records an increase of absolute importance (+133.4%) compared to the same period of 2023.
This performance is only partially attributable to the increase in the price of gold (+8.4%) and sees growth in all the main outlet markets.
Precious metals are decreasing, reaching 912 million (-9.1% on 2023) and Fashion is decreasing by -2.2% with a value of almost 180 million euros. The contraction is mainly determined by leather goods, -20.2% with 42.3 million euros and footwear, -0.5%, 41.3 million euros, while clothing and textiles have positive signs.
Electronics are also positive, 66 million, +11.9%, and Machinery: 55.3 million, +1.9%, while Chemical products show negative signs, 93.6 million, -31.8%, Pharmaceuticals 24.1 million, -17.0%, and wine 15.8 million, -16.1%.
Based on data from the ISTAT “Labor Force” survey, in the province of Arezzo in 2023 there were over 153 thousand employed people (15-89 years old), 78.4% of whom were employees and the remaining 21.6% were self-employed. Compared to 2022, approximately 4,400 job positions were gained with a relative growth of +3%, higher for employed workers (+3.6%) than for self-employed workers (+0.8%).
With 2023, the recovery of pre-pandemic employment levels already achieved since 2021 will be extended, exceeding the 2019 figure by over 8 thousand units (+8.2%): however, this is valid only for employed workers (+10.5% on 2019) while for self-employed workers we are still below approximately 2,400 units in absolute value and 2.4% in relative terms.
In 2023, Arezzo tourism will continue its post-pandemic recovery path both in terms of arrivals (+13.4%) and presences (+9.2%) compared to 2022 and will complete the recovery of pre-pandemic levels both in terms of arrivals (+7.7%) and presences (+12.4%).
The average stay decreases slightly (from 2.8 to 2.7 days) but is still in line with the regional value (2.8 days). The breakdown by origin shows a greater liveliness of foreigners who, however, present the only data still below the 2019 levels in terms of arrivals (-1.1%).
Italians are slowing down their growth but are well above 2019 levels. In terms of types of accommodation, hotels are showing more marked growth than non-hotels, but they are still unable to recover 2019 levels in terms of number of tourists (-2.4%).
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