Tourism and automotive, the sectors that point to the 172 billion of the Recovery Fund



Economy Minister Roberto Gualtieri expressed the hope that these sectors can count on the resources of the European Recovery Fund

by Andrea Carli

Recovery fund: here are the beneficiaries, Italy 172.7 billion

Economy Minister Roberto Gualtieri expressed the hope that these sectors can count on the resources of the European Recovery Fund

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Tourism and automotive look to those 172.7 billion of the Recovery instrument that the European Commission has provided for Italy. Before the “European turning point” manifested with the presentation of the proposal by President Ursula von der Leyen, in a hearing on the relaunch decree, the Minister of Economy Roberto Gualtieri had explained that “this decree is part of a path that he will then see with the Pnr, which the government is working on, a great reform and investment plan, a real strategy for recovery “with” specific plans “for some sectors,” I think of tourism as automotive “which” we hope will also count on resources from a European recovery fund “.

The crux: most of the resources of the European fund in 2021
However, the bulk of the resources, on which the Prime Minister Giuseppe Conte will still have to deal hard in Europe in view of the European Council on 19 June, is expected to arrive in 2021. This scenario complicates the process of the recovery measures and is not very in in line with the state of health of the two sectors, which are claiming new resources shortly to stem a crisis that has been biting for some time. Hence the need to make a new deficit or even to use the MES to face the most urgent measures is outlined among the hypotheses.

Conte thinks of a new deviation
The 172 billion that could come to Italy from the Recovery Fund have also given rise to other requests. In the videoconference meeting between Conte and the mayors of the metropolitan cities and the ANCI, the first citizens, who was present, spoke up, to denounce the risk of default. Luigi De Magistris threatened to hand over the keys of the Municipality of Naples to Palazzo Chigi after bankruptcy. Virginia Raggi warned that there is a risk of turning off the lights on the streets of Rome. Luigi Brugnaro complained that ministers and undersecretaries do not understand the seriousness of the situation. The head of the government anticipated the possibility that the government would ask for a new budget shift, to approve another economic decree in deficit. And tourism and the automotive sector also look at that provision.

Auto, market reset since Covid-19
The latest survey speaks of an auto market that was canceled in April, with registrations dropped by 97.5% and an entire sector struggling with Phase 2. Since the beginning of the year, registrations of new cars have recorded a contraction in the 50.7 compared to 2019, the Covid-19 will therefore leave a heavy mark on the auto market in Italy and Europe. If the lockdown completely blocked sales during March and April, the reopening of dealers will give some breathing space.

Cna: tourism lost 41 billion euros in the first half of 2020
The prospects for tourism are not rosy either. CNA points out that the health emergency linked to the spread of the Covid-19 epidemic has hit the entire economy and in particular tourism with a loss imaginable for the latter, only for the first half of 2020, of 41 billion EUR. The gradual restart cannot, in fact, count on the over 25 million international tourists who spent their holidays in Italy between July and September in recent years (2018 is the year taken as a reference). Above all, it cannot even count on the more than 12 billion euros that have been spent by foreign tourists in the 183 thousand hospitality activities (hotels and extra hotels) and in the entire tourism chain: travel agencies and tour operators, restaurants, shopping, culture , guides, tourist transport and experiential tourism. As for Italian tourists, 13.5 million will be those who will leave for summer holidays within national borders, according to CNA estimates. Eleven million more Italians than in the same period of previous years will not go on vacation.

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