Confidence in the Tourism ecosystem drops dramatically in last months, while other ecosystems witness stagnation / slow recovery
9 February 2022
According to the latest update of the European Commission’s ecosystem confidence indicator, in January, confidence remained rather stable or slightly improved in most industrial ecosystems, with one important exception: Tourism.
1. Tourism sees confidence levels dropping dramatically and going back to negative, something that had not happened since April 2021; the decline of confidence in Tourism during the December and January is remarkable, moving from being the second best performing ecosystem to the worst performing one, together with Textiles; this confirms that Tourism is indeed the most sensitive ecosystem to the evolution of the pandemic and related measures.
2. A closer look at the factors that drive confidence shows a decoupling between the assessment of supply and demand factors by businesses:
a. In Mobility-Transport-Automotive, where firms have a negative and worsening assessment of supply (probably due to shortages) and a positive assessment of demand;
b. In Textiles, where instead the assessment of demand is much more negative than that of supply.
Zoom on most recent 6 months of GROW’s ecosystem confidence indicator
Synthetic overview of GROW’s ecosystem confidence indicator