Italy’s Hotels and Restaurants Brace for Another Bad Year
(Bloomberg) -- 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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