ILTM held in Cannes emphasizing luxury tourism

Wednesday, March 22, 2023

The International Luxury Travel Market (ILTM) is an event completelydevoted toward the luxury segment. It was held in Cannes and participated by thousands of expert operators in that segment.

Now, luxury means the capability to mingle ahigh-classholiday with exclusive cultural allures, culinary experiences in the name of typicality, orpurely, glamping opportunities and extraordinarytripsamid nature.

This section, as perstatistics from the Bank of Italy and ENIT – The Italian Government Tourist Board, presentlysignifies 3% of the Italian GDP and is one of thoselimited areas where capitalizing means a profit on incomes which also includesconnected industries.

Luxury tourists can breed business prospectssingle-handedly – 15% of the entirerevenue of the hotel segment and 25% of theentire tourist spending, both direct and indirect.

Last year, the first year with no less than 10 months at pre-COVID functioning levels, high-end global tourists, mostly Northern European and American, consistent withthe Bank of Italy figures, paid around 24 billion euros in Italy. This comprises 7 billion euros for lodging (majorly luxury hotels, private cottagesand also historic homes); 3 billion euros for cuisine and 14 billion euros for holidays, trips, outings and shopping.

Amongst the regions that profitmaximum from the presence of high-end travelers, Lombardy features with its lakes, Milan with its fashion, Piedmont for wine tastings and Lazio, Tuscany and the Veneto for art.

« Back to Page

• Marriott’s 2024: Transformative luxury with unprecedented hotels & resorts