Italy’s Hotels and Restaurants Brace for Another Bad Year

Italy’s Hotels and Restaurants Brace for Another Bad Year

For Italy’s hotels and restaurants, 2021 is shaping up to be very much like 2020. Sales will barely rebound after the 44% pandemic-induced slump of last year, according to a study by Italy’s association of accountants published on Tuesday. Overall, foreign tourism revenues shrank 61% in 2020, according to the Bank of Italy, and 2021 promises little improvement, with tourist arrivals down 79% in January compared to a year ago.

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