ROME, ITALY – The first slight improvement since 2011 in bankruptcies among tourism operators occurred in the first half of 2015, as the number of failures fell 7% compared with 2014 figures, said a report released Monday July 20, 2015, by Confesercenti retailers’ association.
Despite the slight improvement, business closings in tourism still topped openings by nearly 16,000. Between January and April 2015, over 26,000 businesses shut their doors, while 15,908 opened in the same period.
The current number of business bankruptcies – 1,334 in the first half of 2015 – is still high overall, however: 36% higher than the same period in 2011 and more than double the 647 bankruptcies registered in the first half of 2009.
Late payment figures improved slightly in the second quarter of 2015 compared to the first, with an overall total of 24.2% of businesses paying invoices more than 30 days overdue, a 0.4% decrease on first quarter figures.
The problem is most pronounced in Italy’s South and its islands, where payments more than 30 days late topped out at 33.9%, and is lowest in the northeast, at 13.3%.
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