Open Access Journal Article

Variability of Income Flows of Tourism Companies during a Nine-Year Period

by Iovino Felicetta a,b,* orcid
Business School, University of London, London, UK
Business School, UNICAF, Larnaca, Cyprus
Author to whom correspondence should be addressed.
JES  2023, 11; 1(2), 11;
Received: 1 April 2023 / Accepted: 26 July 2023 / Published Online: 16 August 2023


The global financial crisis has affected all countries during the period 2007-2014. Tourist companies, especially in Italy, play a significant role in the economy of a country. The performance of tourism companies, and in particular hotels and travel agencies and tour operators, will be analysed in this paper, relative to the period of the crisis. The aim of this paper is to analyze profitability dynamics of the aforementioned tourist companies, to check whether they have suffered the effects of the global crisis. To this end, data from AIDA database relating to Italian companies in the sector were used. The profitability of these companies has been analyzed using the main profitability ratios, ROI and ROS ratios. An analysis of the trends and ANOVA of these ratios was carried out for the period 2007-2015. In this way, it has been verified whether the global crisis has affected profitability dynamics of hotels and travel agencies and tour operators in Italy. There is a parallelism in the trends of the main operators' indices in the three Italian macro-regions. The best performance is in the South, in a less developed economic context. The crisis has reduced the income indices in the first three years, even if the figure remains positive. Since 2012 there is a clear recovery, especially for hotels; intermediaries, on the other hand, suffer from competition from websites. However, the indices confirm the close relationship between travel agencies, tour operators and hotels. ROI mainly rewards first, while ROS intermediaries.

Copyright: © 2023 by Felicetta. This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY) (Creative Commons Attribution 4.0 International License). The use, distribution or reproduction in other forums is permitted, provided the original author(s) or licensor are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.

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ACS Style
Felicetta, I. Variability of Income Flows of Tourism Companies during a Nine-Year Period. Journal of Economic Statistics, 2023, 1, 11.
AMA Style
Felicetta I. Variability of Income Flows of Tourism Companies during a Nine-Year Period. Journal of Economic Statistics; 2023, 1(2):11.
Chicago/Turabian Style
Felicetta, Iovino 2023. "Variability of Income Flows of Tourism Companies during a Nine-Year Period" Journal of Economic Statistics 1, no.2:11.
APA style
Felicetta, I. (2023). Variability of Income Flows of Tourism Companies during a Nine-Year Period. Journal of Economic Statistics, 1(2), 11.

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