12th Global Forum on Tourism Statistics Section 3 Measuring the tourism economy and labour market

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1 12th Global Forum on Tourism Statistics Section 3 Measuring the tourism economy and labour market THE CONTRIBUTION OF THE INBOUND TOUR OPERATING BUSINESS TO THE ITALIAN ECONOMY Analysing the production chain and the price components of inbound packages Mara Manente * and Valeria Minghetti + CISET Ca Foscari University Venice Riviera S. Pietro 83, Oriago di Mira (Venice), Italy (*) ciset@unive.it; (+) ming@unive.it Tel Abstract In Italy, inbound organized tourism currently represents about 11% of total inbound tourism flows and 18,8% of total inbound tourism expenditure. However, not all expenditure made by international tourists generate revenue for Italian tour operators: part of the price paid for the package goes to remunerate international transports and the activity of foreign tour operators and distribution networks, who resell the package bought from the Italian counterparts in their countries. Starting from an analysis of the expenditure made by inbound package tourists in Italy and from a face-to-face survey with a sample of Italian tour operators, an economic analysis was developed, in order to estimate the contribution of each stakeholder involved in the package production and distribution, and then the total amount of turnover that remains in Italy. The study provides guidelines for action aimed at maximizing the contribution of inbound package tourism to the national economy and then to the building of the Italian Tourism Satellite Account. Keywords Inbound tourism, package tours, production chain, price, turnover 1

2 1. Introduction In 2012, the Value Added at current prices generated by the activities of tour operators, travel agencies and other related activities in Italy was 1,65 billion Euro (0,2% of Value Added generated by Services and 0,1% of total Value Added)(ISTAT, 2014). However, different trends have characterized the evolution of organized outbound vs. inbound tourism in the last years. Whether the activities of Italian outbound tour operators seem to have suffered for the competition generated by Web distribution channels, the negative economic cycle and the growth of service costs and raw materials, the sale of inbound package holidays and tours to Italy recorded a steady expansion in the same time period. But Italian inbound tour operators do not generally sell their products and services on international markets directly. In each foreign country, they make use of local counterparts (tour operators and travel agencies, travel organizers, etc.), who resell their packages, also including additional services (e.g. return flight, transfer from tourists home to airport). Given these aspects, the assessment of the economic impact generated by organized inbound tourism in Italy requires to investigate the structure of the production and distribution chain. In particular, it is important to understand to what extent the expenditure made by international package tourists generate revenue for the Italian inbound tour operating sector and local service providers, and to what extent it remunerates the activity of foreign tour operators and distribution networks, who resell the package bought from the Italian counterparts in their countries, and of international transports, in cases when Italian transport companies have not been used. Furthermore, it has to be considered that inbound tourists make extra package expenditure at destination, which also contribute to feed the local economy. Starting from these considerations, the main goals of the study, carried out in co-operation with Confturismo-Confcommercio 1, were: first of all, to assess the production and distribution chain of inbound package tourism to Italy and, in particular, of cultural tourism packages sold in four markets: Germany, Russia, USA and Japan. The scope being to identify: the main typologies of packages offered (mono- vs. pluri-destination; standard vs. niche, etc.); the type of services included (return travel, transfer, accommodation, food and beverage, local transports, tourist guides, etc.); the stakeholders involved in their production and distribution (service suppliers, Italian and international tour operators and intermediaries); secondly, for each type of package analyzed, to identify the price paid by tourists (i.e. that published on the catalogue) and the contribution of every stakeholder to its development, by splitting the price into its main components (net cost of each service included; mark-up applied by the Italian TO and by its foreign counterparts); 1 Conturismo is the tourism branch of the Italian General Confederation of Enterprises, Professional Occupations and Self-employment 2

3 thirdly, to assess the amount of turnover generated by the sale of inbound package holidays and tours that remunerates the activity of Italian TOs, i.e. that remains within the country and contributes to the Italian tourism GDP, and the amount that goes abroad, to remunerate their international counterparts; finally, to estimate the total turnover generated by organized inbound tourism in Italy, also taking into account the additional extra package expenditure made by international tourists at destination. After having identified the key variables for the selection of different types of cultural packages, a face-toface survey was organized with a representative sample of Italian inbound tour operators selling a number of cultural packages in one or more of the four markets identified. Starting from the survey s results and from an evaluation of package and extra-package expenditures made by inbound tourists at destination, derived from the Bank of Italy database 2, an economic analysis was developed, in order to estimate the contribution of each stakeholder involved in the package production and then the total amount of revenue that remains in Italy. The study provides guidelines for action along the production chain aimed at maximizing the turnover generated by package tourism and then can contribute to the building of the Italian Tourism Satellite Account, by providing information useful to detail the section related to complex services bought by foreign tourists in Italy. 2. Inbound package tourism in Italy: the State of the Art According to Bank of Italy database on international tourism, in 2012 about 5,4 million international tourists bought a travel package to Italy, including at least two services, and generated 36,4 million nights. The average annual increase of overnight tourists was +7,2% on 2011 and +1,2% on 2008 (+5,6% and +2%, respectively, if nights are considered). Organized inbound tourism in Italy represents about 11% of total inbound tourism flows in the country (Tab. 1). Table 1. Evolution of inbound organized tourism flows and expenditure: INBOUND PACKAGE TOURISM Abs. values Average annual % change % Share on total incoming tourism (thousands) Overnight tourists ,2% 7,2% 11,9% 10,9% 11,1% Nights ,0% 5,6% 10,1% 10,5% 11,1% Package expenditure (mln ) ,0% 12,5% 16,0% 17,3% 18,8% Source: CISET elaboration on Bank of Italy database 2 Bank of Italy, Survey on international tourism to and from Italy, 3

4 But it is above all the package expenditure that recorded a steady growth, rising from 5,1 billion in 2011 to 5,7 billion in 2012 (+12,5%). In comparison to 2008, the annual average growth rate was +5%. The higher increase of expenditures in comparison to tourist flows highlights a rise in the average package expenditure per tourist and per night in the last years. The evolution of inbound package tourism is basically driven by leisure tourism (more than 85% of total flows and expenditure) and particularly by cultural tourism (60% of total inbound organized tourism flows for leisure purposes). The top five countries of origin of inbound package tourists are the United States (16,2% of inbound package flows), Germany (13,9%), the United Kingdom (13,4%), Austria (6,9%) and Russia (5,3%). The four markets considered for the analysis - Germany, Russia, USA and Japan - represent about 40% of total inbound package tourism flows in Italy. However, the weight of organized tourism on total inbound tourism is different in each country, going from a minimum of 7,1% for German tourists, to a maximum of 59,9% for Japanese tourists. For Russian and Us inbound tourists, the weight is 28,8% and 32,3% respectively. The most popular package bought by international tourists to holiday in Italy include two services: return travel (basically flight fares) and accommodation (24% of inbound tourists choose it). 17% of package tourists prefer a formula including return travel, transfer from home to the airport, accommodation and other services at destination (e.g. tickets for museums, attractions; local transports), while only 7,7% choose and all-inclusive package, which also comprehend food and beverage (Fig. 1). Figure 1. Organized inbound tourism in Italy. Most popular package formulas bought by tourists Other; 26,0% Return travel + accomm; 24,0% Return travel+italy transfer+accomm+ other; 6,3% All inclusive; 7,7% Return travel+home transfer+accom+ot her; 17,0% Return travel+ Italy transfer+accomm; 8,9% Return travel+ home transfer+accomm; 10,0% Source: CISET elaboration on Bank of Italy database Regarding the average expenditure met by an inbound organized tourist for a package holiday in Italy, in 2012 it amounted to about 1,054 Euro, corresponding to an average annual increase of +3,8% between 4

5 2008 and 2012 (+5% between 2011 and 2012). The average package expenditure per night was 156,7 Euro in 2012 vs. 139,5 Euro in 2008 (+2,9% on average each year), following a rise in the average length of stay from 6,5 to 7,0 days (Tab.2). Table 2. Evolution of average expenditure made by inbound package tourists for the package and at destination Abs. Values Average annual % change (thousands Euro) Average per capita expenditure for package 907, , ,88 3,8% 5,0% Average expediture for package per night 139,49 147,05 156,69 2,9% 6,6% Average per capita extra expenditure at destination 336,84 354,65 387,80 3,6% 9,3% Average extra expenditure at destination per night 51,78 51,94 57,66 2,7% 11,0% Average length of stay (gg.) 6,50 6,83 7,05 Source: CISET elaboration on Bank of Italy data As for extra-package expenditures, an inbound tourist spends on average 387,80 Euro at destination (57,66 Euro per night) and these expenditures have shown an average annual increase of +3,6% between 2008 e 2012 (+2,7% for expenditure per night). In detail, their expansion between 2011 and 2012 (+9,3% per capita and +11% per night) is higher than that recorded by the corresponding package expenditure in the same time period. This means that the economic impact generated by package tourists at destination grows more than the benefits for Italian inbound tour operators. Focussing on the four countries investigated, Extra-European tourists are those who spend the most for the package, given first of all the higher incidence of international transports and the longer length of stay. A tourist coming from the USA and Japan spends, on average, 1,773 Euro and 2,450 Euro respectively for the package (190 Euro and 313 Euro per night), versus 652 Euro and 923 Euro spent by a German and a Russian tourist (108 and 112 Euro per night). As for extra package expenditure, Russian tourists are the highest spenders at destination: the average expenditure per tourist is 800 Euro (97 Euro per night), versus 669 Euro and 555 Euro for Japanese and US tourists (85 and 59 Euro per night) and 194 Euro for German tourists (32 Euro per night). 3. Analysing the production chain of inbound package tourism: The research In parallel with the definition of the market, an investigation of the inbound tour operating business was developed, through the Sector Studies (statistics developed by the Italian equivalent of the Internal Revenue Service to estimate the income of a business and a company)(agenzia delle Entrate, 2013), and a face-to face survey with a representative group of Italian inbound tour operators. The main issues the study 5

6 wanted to address were: what is the role of the tour operating sector in the evolution of inbound tourism in Italy? What is the economic impact of inbound tour operating activity on the territory? To what extent does Italy as a destination benefits of the presence of organized inbound tourists? Finally, what are the actions that can make the Italian inbound tour operating business more competitive at international level? Looking at the structure and characteristics of the production chain, there is no consensus on the number of inbound tour operators in Italy. According to Sector Studies, in 2011 there were about 305 tour operators and travel agencies with double license (for both retail and organization activities) focused on inbound tourism only, with a turnover less than 5 million Euro (Agenzia delle Entrate, 2013). Then, there were also 437 businesses that had incoming tourism as prevailing activity (both TOs and Adv), for a total of 742 intermediaries specialized in inbound tourism. Looking at the intermediaries having inbound tourism as unique business (Fig. 2), more than 44% declared a turnover of 1 million Euro and over, while 24% a turnover equal or below 180,000 Euro. The average turnover per business is about 1,11 mln Euro. Figure 2. % Italy: distribution of TOs and Adv focused on inbound tourism, by range of turnover (Euro) 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 7,6% 36,7% oltre ,5% ,3% Fino a ,9% Sources: CISET elaboration on Agenzia delle Entrate database and CISET-Confturismo survey As regards the main typologies of packages sold by Italian inbound Tour operators, the following table summarizes their main characteristics in terms of: type of products/destinations (popular vs. niche); main purpose of visit; services included (Tab. 3). These packages can include one or more destinations and be developed for both individual tourists and groups. 6

7 Table 3. Main typologies of holiday packages sold by Italian inbound Tour operators Traditional packages Niche packages Luxury packages Product: traditional Destinations: popular (e.g. important art cities, like Venice, Florence, Rome) Main purpose: traditional cultural tour (main attractions) Services: standardized (e.g. 4 star hotel, BB or FB arrangement, transfer, guide, entrances) Product: niche, tailor-made Destinations: less popular or popular, but presented in an unusual way (e.g. wine tasting in Italian art cities). The activities proposed make the difference Main purpose: specific interests (e.g. gastronomy, trekking, classical music) Services: variety and quality of services driven by main purpose and activities offered at destination Product: transversal, both traditional and niche. The quality of services make the difference Destinations: both popular and less popular Main purpose: traditional cultural tour or specific interests Services: variety of services according to main purpose, high quality Source: CISET-Confturismo survey The final price of the package, i.e. that published on the catalogue and paid by the tourist, is formed by three main components (Fig. 3): the sum of net costs of every service included in the package (accommodation, transfer, local transports, attractions, etc.); the mark-up applied by the Italian tour operator; the remuneration of the foreign production chain, which comprehends the cost of the international services included in the package (e.g. the return flight) and the mark-up applied by the foreign counterparts of the Italian tour operator, i.e. the foreign tour operator and the local distribution network. Figure 3. Inbound package holiday. The main price components Accommodation Transfer/ Local transports Food & beverage Visits/entrances Tourist guides Excursions Tasting Insurance Net cost of services I n b o u n d + = T O Mark up inbound TO Source: CISET-Confturismo survey Package selling price made by the inbound TO (revenue) Other services (e.g. return travel) + = Mark up foreign TO Remuneration retail network Remuneration foreign production chain Package final price (catalogue) 7

8 As for the mark-ups applied by Italian inbound operators and their foreign counterparts in Germany, Russia, USA and Japan, according to the type of package, average values for individual and group packages are shown in Table 3. Table 3. Average mark-ups applied by Italian TO and by foreign TOs/retail network Packages Mark up Italian TO (avg. values on individual and group packages) Mark up foreign TO and remuneration of retail network (avg. values on individual and group packages) No. stopover Mono-destination* 10-12% 20% Pluri-destination* 12-15% 25% Type of package Traditional 10% 20% Niche (**) 13% 25% Luxury 15% 35% Country Germany 10% 20% Russia 12% 24% USA 13% 22% Japan 12% 20% (*) Lower % for groups, higher % for individuals (**) The mark-up applied by inbound tour operator depends on the level of package specialization and on the expertise of the operator. The higher the specialization and expertise the higher the mark-up applied. Source: CISET-Confturismo survey 4. The economic impact of inbound package tourism in Italy: from micro to macro analysis Given the information on: the package expenditures met by organized inbound tourists and on extra expenditures they make at destination (Section 2); the net costs of services included in the package; and the remuneration of the production and distribution channels (Section 3), the following figure summarizes the contribution of inbound package tourism to the Italian economy. In detail, the total turnover generated by inbound package tourism (package expenditure plus extra expenditure) that remains in Italy, and then remunerates the local production chain, amounts to 4,7 bln Euro, equal to 60% of total gross turnover (7,8 bln Euro)(Fig. 4). This means that 40% goes abroad to remunerate the foreign distribution chain. Looking specifically at the package component, the amount of net turnover gained by Italian tour operators and local service providers is 2,7 bln Euro, equal to 47% of gross turnover derived from package sales (5,7 bln Euro), while 53% remunerate their foreign counterparts. As for the extra expenditures made by inbound tourists at destination, the net turnover is 2,0 bln Euro, 95% of which go to Italian tourism-related businesses. 8

9 Figure 4. The contribution of inbound package tourism to Italian economy: from micro to macro-analysis Step1 Step 2 Step 3 Step 4 5,7 bln Euro Gross turnover of inbound packages Gross turnover from extra expenditure made by package tourists 2,1 bln Euro 7,8 bln Euro Gross turnover generated by inbound package tourism - 2,2 bln Euro International transports - 0,7 bln Euro Mark up foreign TO + remuneration retail network Remuneration of foreign Distribution chain 0,1 bln Euro Direct imports= - = 0,1 bln Euro Direct imports (direct+indirect = = 0,3 bln Euro) - = Step 5 2,7 bln Euro Net turnover of inbound packages Net turnover from extra expenditure made by package tourism 2,0 bln Euro (1,8 bln Euro) 4,7 bln Euro (4,5 bln Euro) Total turnover generated by package tourism that remains in Italy Sources: CISET elaboration and estimate on Bank of Italy and ISTAT database; Report on Italian Tourism; CISET-Confturismo survey But how these results have been calculated? Figure 4 also shows the steps of the process followed to estimate the economic impact of inbound package tourism, from a micro to a macro perspective. Starting from the gross turnover generated by the sale of inbound packages (Step 1), firstly the data has been cleansed from the expenditure for international transport (mainly air transport) managed by foreign companies (2,2 bln Euro), whose weight is about 39% of total gross turnover (Step 2). In more detail, transport expenditure that goes to international carriers represent about 86% of total transport expenditure included in inbound packages. Considering the four countries analyzed, the use of international carriers is the highest in Germany (97% of total transport expenditure included in packages sold in this country goes to German or international carriers), Russia (78%) and the USA (77%). On the contrary, for Japan about 58% of transport expenditure goes to Japanese or international carriers, while 42% goes to the Italian carrier, Alitalia. In the third step, also the costs of the foreign distribution chain have been deducted, which include the mark up of the foreign TO and the remuneration of the local retail network. These costs represent about 20% of package turnover (0,7 bln Euro). This is an average value, which takes into account the different types of packages (mono vs. pluri-destination, length of stay, services included, etc.). Their incidence is higher in Japan (24%) and Russia (22%), while it is around the average in the USA and Germany. 9

10 Consequently, the gross turnover generated by the selling of inbound packages that remains in Italy is about 2,8 bln Euro (49% of total gross turnover). From this amount, the imports of goods and services made by Italian TOs and other service providers to produce the package have to be deducted (0,1 bln Euro, 3,9% of gross turnover)(step 4). The value of these imports have been estimated starting from the imports generated by total inbound tourism (independent plus package) in Italy (Rapporto sul Turismo Italiano (2013)). Finally, the net value of the package turnover that remunerates the Italian production chain is 2,7 bln Euro (47% of total turnover). This value also includes the mark up of Italian TOs, which amounts to about 306 mln Euro (11% of net turnover). The following figure shows the breakdown of net turnover according to the services included in the package (Fig. 5). In detail, 58% of the turnover remunerates the accommodation sector, 16% benefits local transfers (public and private transports), and 10% the food & beverage sector. Tourist guides and monuments, attractions, etc. collect, respectively, 8,1% and 6% of net turnover. Figure 5. Breakdown of net turnover generated by the selling of inbound packages: the contribution to each service activity included Visits/entrance fees; 6,2% Tourist guides; 8,1% Tasting; 1,0% Other; 0,5% Food & beverage; 9,6% Accommodatio n ; 58,8% Local transfers; 15,9% Source: CISET-Confturismo survey Concerning the extra expenditures made by tourists at destination, which are not included in the package, they amount to 2,1 bln Euro. From this value, the incidence of imports made by local suppliers to produce the goods and services sold to tourists have to be deducted. If only direct imports are considered, their value is 109,1 mln Euro, which means that the amount of extra expenditure that remains in Italy is about 2,0 bln Euro. If direct and indirect imports are taken into account (308,5 mln Euro), the amount of extra expenditure that benefit Italian tourism-related activities is 1,8 bln Euro. Figure 6 shows the breakdown of net turnover generated by extra expenditure according to the services bought by tourists at destination. 10

11 Figure 6. Breakdown of net turnover generated by extra package expenditure at destination: the contribution of each service Other; 6,2% Accommodatio n; 2,5% Food & beverage; 36,0% Shopping; 50,9% Local transports; 4,4% Source: CISET elaboration and estimate on Bank of Italy database As shown in the figure, shopping and food & beverage are the most popular expenditure items. Shopping weight is about 51%, while the incidence of restaurants, bars, etc. is 36%. The share of other expenses (which include entertainment, visits to attractions if not included in the package, etc.) is 6,2%. Finally, looking at the four countries analyzed, inbound packages sold by Italian Tour operators in Germany and Russia are those that generate the highest benefits in comparison to the average: 54,4% and 58,2%, respectively, of net package turnover generated by packages bought in these countries remains in Italy versus an average of 47,1% (Tab. 4). For packages sold in the USA and Japan, the weight is around the average (47,9% and 49,3%, respectively), given the higher incidence of international transport and of the remuneration of local tour operators than in European countries. As for the total net turnover generated by inbound package tourism (i.e. including extra package expenditure made by tourists at destination), German and Russian tourists are those who generate the highest impact on the territory (Tab. 4). Taking into account net extra expenditure (i.e. excluding direct imports), 63,7% and 75,2%, respectively, of total package net turnover generated by German and Russian inbound package tourists remain in Italy, versus an average of 59,9% on total inbound tourism. For the USA and Japan, the incidence is around the average. Anyway, the countries where extra expenditure made by their package tourists give the highest contribution to the Italian economy are Russia and the USA: the ratio between net package turnover and total net turnover generated by package tourism is 1:2,4 for the first country and 1:1,6 in the second one (Tab. 4). 11

12 Table 4. Total turnover generated in Italy by inbound package tourists coming from the four countries analyzed Inbound average Germany Russia USA Japan Net package turnover that remains in Italy (% share on total package turnover) 47,1% (2,7 mld) 54,4% (261 mln) 58,2% (148 mln) 47,9% (760 mln) 49,3% (256 mln) Total net turnover generated by inbound package tourism in Italy (net extra expenditure included) (% share on total package turnover+ total extra expenditure)(direct imports deducted) 59,9% (4,7 mld) 63,7% (396 mln) 75,2% (357 mln) 59,1% (1,2 mld) 59% (391 mln) Sources: CISET elaboration and estimate on Bank of Italy and ISTAT database; Rapporto sul Turismo Italiano; CISET-Confturismo survey 5. Conclusions The total economic impact of inbound package tourism on the Italian economy is higher than that calculated focusing on package turnover only. According to the results of the analysis carried out, although only 47% of the turnover generated by the sale of inbound packages abroad remains in Italy - while 53% remunerates international transports and the foreign counterparts of Italian tour operators the share rises to 60% if also extra-package expenditures are considered (direct imports deducted). What is important to highlight is that the incidence of package turnover that remains is Italy shows a steady decrease in the last years, as a consequence of a number of factors. First of all, the evolution of air transport and routes and the role of scheduled versus charter flights. In particular, the growing use by Italian tour operators of international air carriers (traditional or low cost companies), based in the tourists country of origin or elsewhere, explains why an increasing share of the total package price (i.e. that published in the catalogue) goes to remunerate these operators. This share tends to rise in parallel with the increase of travel length. A second aspect concerns the bargaining power of tour operators. The larger the size of the Italian operator (in terms of turnover and staff) and the number of packages developed and sold, the higher its bargaining power over its foreign counterparts. In Italy, big inbound TOs are the minority. However, also smaller TOs, with a highly specialised niche product, can get more profitable contracts than other operators. A third important issue refers to tour operators mark-ups. The larger the size of the Italian operator and the number of packages developed and sold, the more the mark-ups applied are fixed and standardized. On the contrary, those applied by smaller TOs tend to be more flexible and shaped according to the type of package and the market. 12

13 As mentioned in the introduction, also the Web is having a heavy impact on tour operators activity. The opportunity for tourists to compare prices and packages proposed by different operators and the competition made by Online Travel Agencies (OTA) make it difficult for tour operators to apply high markups. Consequently, there is a growing need to cut costs and control profits in order to stay competitive, especially for Italian tour operators. A final aspect refers to the provision of some services included in the package. Apart from international transports, there are also other services that can be provided by tourism operators not located in Italy. For example, the EU Law 2013, implemented by the Italian Law no.97/2013, states that tourist guides qualified to practice in other EU countries can also operate in Italy, without any additional authorization or international license. The average incidence of a tourist guide on the net cost of services included in the package goes from a minimum of 5% to a maximum of 15% (3-13% on total package price), according to the type of package. All these factors contribute to explain why the economic impact of inbound package tourism in Italy is showing a decrease, in comparison to the rise of profits made by tourism businesses located at destination, who benefits from the growth of extra-package expenditures. The results obtained provide Italian tour operators with a comprehensive picture of the economic structure of the inbound production and distribution chain, showing what is their role in comparison to their foreign counterparts and giving indications for actions in order to increase their competitiveness at international level. The methodology adopted for the economic analysis, and then the combination of secondary data provided by main statistic sources (ISTAT, Bank of Italy, Agenzia delle Entrate) with primary data collected with the contribution of Italian tour operators, proves to be effective in assessing the contribution of inbound package tourism to the Italian economy. The economic analysis developed allows researchers, public and private institutions and operators to have reliable and exhaustive data on the impact of the inbound tour operating business in Italy, coherent with the rest of the National productive system and consistent with the most rigorous tools of analysis and with the Tourism Satellite Account. References Agenzia delle Entrate (2013), Studio di Settore UG78U: Attività delle agenzie di viaggio e turismo e dei tour operator, Codice attività Attività dei tour operator incoming. Periodo di imposta 2011 (Italian equivalent of the Internal Revenue Service (2013), Sector Study UG78U: Activities of travel agencies and tour operators, Activity code Activity of incoming tour operators. Tax period 2011) Bank of Italy, Survey on International Tourism to and from Italy, URL: 13

14 Becheri E., Maggiore G. (a cura di)(2013), Rapporto sul Turismo Italiano, XVIII edizione (Report on Italian Tourism, XVIII Edition), Mercury-IRAT, Franco Angeli Editore. Confturismo-Confcommercio and CISET (2014), Il turismo incoming organizzato: dalla spesa del turista all analisi della filiera, all individuazione delle aree critiche (Inbound package tourism in Italy: From tourists expenditure to production chain and identification of critical aspects) URL: ISTAT (2014), Aggregati dei conti annuali nazionali, per branca di attività economica (Annual National Accounts by economic branch) URL: 14