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Travel and Tourism Services in Italy: A Strategic Reference, 2006 - Product Image

Travel and Tourism Services in Italy: A Strategic Reference, 2006

  • ID: 602233
  • July 2007
  • Region: Italy
  • 262 pages
  • ICON Group International

How to Strategically Evaluate Italy

Perhaps the most efficient way of evaluating Italy is to consider key dimensions which themselves are composites of multiple factors. Composite portfolio approaches have long been used by strategic planners. The biggest challenge in this approach is to choose the appropriate factors that are the most relevant to international planning. The two measures of greatest relevance to travel and tourism services are “latent demand” and “market accessibility”. The figure below summarizes the key dimensions and recommendations of such an approach. Using these two composites, one can prioritize all countries of the world. Countries of high latent demand and high relative accessibility (e.g. easier entry for one firm compared to other firms) are given highest priority. The figure below shows two different scenarios. Accessibility is defined as a firm’s ease of entering or supplying from or to a market (the “supply side”), and latent demand is an indicator of the potential in serving from or to the market (the “demand side”).
Framework for Prioritizing Countries

Demand/Market Potential READ MORE >

1 INTRODUCTION & METHODOLOGY 1
1.1 What Does This Report Cover? 1
1.2 How to Strategically Evaluate Italy 1
1.3 Latent Demand and Accessibility in Italy 3
2 TRAVEL AND TOURISM SERVICES IN ITALY 5
2.1 Latent Demand and Accessibility: Background 5
2.2 Latent Demand: Market Composition 5
2.3 Latent Demand: Dynamics 6
2.3.1 In-Bound Market 7
2.3.2 Visitor Profile 7
2.3.3 Traveller Characteristics 8
2.4 Accessibility: The Structure of Competition 9
2.5 Latent Demand: Target Buyers 10
2.6 Latent Demand: Leading Segments 11
2.6.1 Destinations 11
2.6.2 Foreign Independent Traveler (FIT) 11
2.6.3 Business Travel 11
2.6.4 Pre-Paid Packages 12
2.7 Local Business Practices 12
2.7.1 Tour Operators 12
2.7.2 Web Sites 13
2.7.3 Travel Information Gathering 13
2.8 Key Contact 14
3 FINANCIAL INDICATORS: ARRANGEMENT OF PASSENGER TRANSPORTATION 15
3.1 Overview 15
3.1.1 Financial Returns and Gaps in Italy 16
3.1.2 Labor Productivity Gaps in Italy 19
3.1.3 Limitations and Extensions 19
3.2 Financial Returns in Italy: Asset Structure Ratios 20
3.2.1 Overview 20
3.2.2 Assets - Definitions of Terms 20
3.2.3 Asset Structure: Outlook 23
3.2.4 Large Variances: Assets 24
3.2.5 Key Percentiles and Rankings 27
3.3 Financial Returns in Italy: Liability Structure Ratios 42
3.3.1 Overview 42
3.3.2 Liabilities and Equity - Definitions of Terms 42
3.3.3 Liability Structure: Outlook 44
3.3.4 Large Variances: Liabilities 45
3.3.5 Key Percentiles and Rankings 48
3.4 Financial Returns in Italy: Income Structure Ratios 61
3.4.1 Overview 61
3.4.2 Income Statements - Definitions of Terms 61
3.4.3 Income Structure: Outlook 63
3.4.4 Large Variances: Income 64
3.4.5 Key Percentiles and Rankings 67
3.5 Financial Returns in Italy: Profitability Ratios 82
3.5.1 Overview 82
3.5.2 Ratios - Definitions of Terms 82
3.5.3 Ratio Structure: Outlook 84
3.5.4 Large Variances: Ratios 85
3.5.5 Key Percentiles and Rankings 88
3.6 Productivity in Italy: Asset-Labor Ratios 103
3.6.1 Overview 103
3.6.2 Asset to Labor: Outlook 104
3.6.3 Asset to Labor: International Gaps 105
3.6.4 Key Percentiles and Rankings 108
3.7 Productivity in Italy: Liability-Labor Ratios 123
3.7.1 Overview 123
3.7.2 Liability to Labor: Outlook 124
3.7.3 Liability and Equity to Labor: International Gaps 125
3.7.4 Key Percentiles and Rankings 128
3.8 Productivity in Italy: Income-Labor Ratios 141
3.8.1 Overview 141
3.8.2 Income to Labor: Outlook 142
3.8.3 Income to Labor: Gaps 143
3.8.4 Key Percentiles and Rankings 146
4 MACRO-ACCESSIBILITY IN ITALY 161
4.1 Executive Summary 161
4.2 Fundamental Dynamics 162
4.3 Dynamics in Agriculture 162
4.4 Dynamic Markets 162
4.5 Government Intervention Risks 163
4.6 Infrastructure Development 163
4.7 Economic Relationship with the United States 164
4.8 The Political System 164
4.8.1 Political Risks for Agriculture 165
4.9 Marketing Strategies 166
4.9.1 Distribution Channel Options 166
4.9.2 Agents and Distributors 167
4.9.3 Franchising 168
4.9.4 Direct Marketing Options 170
4.9.5 E-Commerce 170
4.9.6 Leasing 172
4.9.7 Joint Ventures and Licensing Options 173
4.9.8 Creating a Sales Office 173
4.9.9 Advertising and Trade Promotion 173
4.9.10 Pricing Issues 181
4.9.11 Quotes and Payment Terms 182
4.9.12 Selling Strategies 182
4.9.13 Public Sector Marketing 183
4.9.14 Hiring Local Counsel 183
4.9.15 Performing Due Diligence 183
4.9.16 Marketing Agricultural Products 184
4.10 Trade Barrier Risks 185
4.10.1 Broadcast Directive and Motion Picture Quotas 185
4.10.2 Civil Aviation 186
4.10.3 Government Procurement 186
4.10.4 Customs Regulations, Tariff Rates, and Import License Requirements 186
4.10.5 Value-Added Taxes 187
4.10.6 Temporary Goods Entry Requirements 187
4.10.7 Special Import/Export Requirements and Certifications 188
4.10.8 Labeling Issues 188
4.10.9 Restrictions on Imports 189
4.10.10 Controls on Exports 189
4.10.11 Local Standards 189
4.10.12 Free Trade Zones and Warehouses 196
4.10.13 Adherence to Free Trade Agreements 196
4.10.14 Customs Contact Information 197
4.10.15 Warranty and Non-Warranty Repairs 197
4.10.16 Trade Regulations and Standards for Agriculture 197
4.11 Investment Climate 198
4.11.1 Openness to Foreign Investment 198
4.11.2 Right to Private Ownership and Establishment 199
4.11.3 Intellectual Property Risks 199
4.11.4 Laws Governing Intellectual Property Rights 200
4.11.5 Foreign Trade Zones and Free Ports 202
4.11.6 Taxation Issues 202
4.11.7 Performance Requirements and Incentives 203
4.12 Transparency of the Regulatory System 203
4.12.1 Corruption 203
4.12.2 Labor 204
4.12.3 Capital Market Risks 205
4.12.4 Conversion and Transfer Policies 206
4.12.5 Expropriation and Compensation 206
4.12.6 Dispute Settlement 206
4.12.7 Political Violence 207
4.12.8 Bilateral Investment Agreements 207
4.12.9 OPIC and Other Investment Insurance 209
4.12.10 Capital Outflow Policy 209
4.12.11 Major Foreign Investments 209
4.13 TRADE AND PROJECT FINANCING 210
4.13.1 The Banking System 210
4.13.2 Foreign Exchange Control Risks 211
4.13.3 General Financing Availability 211
4.13.4 Financing Export Strategies 211
4.13.5 Financing Options 212
4.13.6 Availability of Project Financing 212
4.13.7 Banks with Correspondent U.S. Banking Arrangements 213
4.14 Travel Issues 216
4.14.1 Local Business Practices 216
4.14.2 Travel Advisory and Visas 216
4.14.3 Work Week 217
4.14.4 Infrastructure for Conducting Business 217
4.14.5 Temporary Entry of Goods 219
4.15 Key Contacts 220
4.15.1 U.S. Embassy Trade Contacts 220
4.15.2 American Chamber of Commerce 222
4.15.3 Italian Government Agencies 222
4.15.4 Italian Trade Associations 225
4.15.5 Market Research Firms 232
4.15.6 Italian Commercial Banks 233
4.15.7 Contacts in Washington D.C. 235
4.15.8 U.S.-Based Multipliers Relevant for Italy 235
4.15.9 Agricultural Contacts By Industry 236
5 DISCLAIMERS, WARRANTEES, AND USER AGREEMENT PROVISIONS 253
5.1 Disclaimers & Safe Harbor 253
5.2 Icon Group International, Inc. User Agreement Provisions 254

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