The COVID-19 pandemic is having a devastating impact on tourism in Italy, the Bank of Italy said in a report on Thursday.
It said that foreign visitors to Italy spent 1.193 billion euros in October, down 70.4% with respect to the same month in 2019.
"The sudden, drastic contraction in tourism flows in Italy will have a significant impact on national GDP and serious consequences on businesses in the sector and their suppliers," the report said.
"Tourism is an important sector of the economy in Italy and around the world with strong potential in terms of growth and employment as well as in terms of social and cultural integration.
"The effects of the recent COVID-19 pandemic have highlighted the importance of this sector".
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