Alleluia! Rome with almost 450,000 of active companies within its boundaries finally overtakes Milan attending Cerved. It was bound to happen and it shows an interesting trend whereby we can also expect a clientele change. More like it already happens in Paris we're looking forward to welcoming some more business clients, as it stands in Rome tourism for us covers over 90% of our clientele. It doesn't exactly reflect the inflow of foreigners to Rome, more and more of which are here for business.
With over 140 billion of euros in GBP Rome currently is only second to Milan in Italy. Attending RomaEconomia, compared to the other European cities we are currently marketing in Europe, the aggregated GBP of Rome is only two thirds of Paris, but three times Copenhagen and the double of Amsterdam. Rome GPL is also bigger than Barcelona (10% smaller GBP) and Berlin (20% smaller GBP than Rome). When compared to purchasing power Rome's compared gbp per head falls dramatically, which makes it less interesting to an employeed worker, but more interesting (at least on paper) to us, since it reflects a comparatively higher cost of life which should give us better margins when competing to hotels. Yet the dramatic growth of income experienced in the last decade here has also drawbacks. Rents were so low compared to vacation rental income in 1997 that is was a leverage when talking owners into renting short term over long leases. Over a decade on cost per square meter in yearly leases has grown 13fold while cost of hotel rooms (which we tag to) a meager 10%!