In tourism, Italy has always wanted to be the top tourism destination in the world. The country is working towards that end as well. There is a strong draw to the southern regions there. The key element that is in demand currently is quality rental property. Italy has become the fifth largest tourism destination in the world. Up 17.2 per cent in just 2007, people are coming. Venice and Rome tend to be the largest draws.
In southern Italy, property owners offering rental properties will continue to see demand rise. Accordingly, even with a global tourism slowdown, the World Travel and Tourism Organization foresees a 2 per cent growth in 2008 and through the next several years. Property here is valuable because of the demand.
In Northern Italy, ski resorts are another large draw. Here, the property market is very much in demand. Locations like Pragelato offer resorts to rival the best in the world including those in Austria and Switzerland.
Another benefit that many tourists say about Italy is that the people are warm and welcoming compared to the unwelcoming feeling in other ski or tourism towns around the world.
Tourism in Italy will play a significant importance in the property market here in the coming months and years, investors say. The stronger the tourism market, the more likely that property values will increase due to demand.
