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Published in:
2017 | OriginalPaper | Chapter
The Effects of the Crisis on Nautical Tourism: An Analysis of the Italian Situation Regarding Port Features, Linked Economic Activities and Taxation
Authors : Enrico Ivaldi, Riccardo Soliani, Gian Marco Ugolini
Published in: Global Financial Crisis and Its Ramifications on Capital Markets
Publisher: Springer International Publishing
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Abstract
Since 2008 the Italian nautical industry has gone through a period of uninterrupted crisis with serious consequences both of an economic nature and in terms of loss of jobs. In particular, the sector of pleasure boating has undergone profound upheaval which has essentially affected three areas.
The non-renewal of the fleet due to a sharp decrease in new registrations is the first. The second is the inability to modify the port supply and number of berths, given that ports are in fact a stock of long-term real estate. This has resulted in falling prices and a difficult economic and financial situation for port managers. The third concerns boaters, the driving force of nautical tourism, who responded immediately to the general crisis with a change in behaviour, devoting less time and money to boating. This disaffection has been further aggravated by legislation that has proved almost hostile and heavily punitive towards boaters and boating in general.
Finally, since 2014–2015 the Italian Government seems to have changed course and has cancelled some vexatious rules (which weakened public finances) thus giving new hope to the shipyards and to boaters: the first challenge will be to bring back on board the 40,000 boaters who have deserted.