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PRODUCT NEWS
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| Italy's thermal spas starting to recover |
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| 26 Nov 2013 . BY Tom Anstey |
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| Demand for spas in Italy had dropped in 2011 and 2012, but results for 2013 have been encouraging / Shutterstock |
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Italy is showing “timid signs of a turnaround” for its recession-hit thermal spas, according to new data from Federterme – the Italian Federation of Industries Spas and Hot Springs Healing.
Commenting on the latest periodic survey of Italy’s spa performance, the results of which were announced at the Spa Tourism Expo held 22-23 November in Rimni, Italy, Fedeterme president, Costanzo Jannotti Pecci said: “The revenue of the spa industry over the past year has had no surprises. After performances did not live up to expectations in 2010 and 2011, the spa sector in 2012 showed a substantial reduction in activity levels determined by the general deterioration in confidence and a notable tightening on taxation.
“These factors have prompted a reduced demand for spa treatments and other goods and services related to wellness such as hotels.”
In 2012 revenues for the Italian thermal spa sector were €719m (US$974.6m, £602m). Compared to 2011 there was a 6 per cent drop in revenue with thermal treatments significantly dropping by 7.8 per cent while other goods and services saw a 4.4 per cent decline.
There have been signs of a recovery however. In the first nine months of 2013, total revenues for the Italian thermal spas have remained largely unchanged compared to the same period in 2012.
In 2013 there was a 9 per cent drop in expenditure as a result of both cutting staff and expenditure on goods and services.
“It’s too early to talk about a real reversal of the negative trend that has characterised the past three years,” said Pecci. “but the data collected by Fedeterme would indicate a slow recovery.
“Between January and September in 2013, the turnover and operating profit of the spa industry have shown some tentative signs of improvement. The economic performance, while continuing to fall into negative territory, appears more favourable in comparison of trends, which suggests that companies, with regard to operating profitably, have finally passed the intensity of the recession.”
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