The Province of Verona is the queen of wine, but the crisis is costing at least 260 million euros (including related industries)
This is the most conservative scenario drawn up by the University of Verona in collaboration with the Chamber of Commerce, based on the assumption of a 5 per cent fall in exports
Verona is the leading province in Italia in terms of production value and alone accounts for 10 per cent of Italian wine export turnover. For this reason, it is one of the provinces hardest hit by the sector’s current difficulties, with falling consumption, declining prices and challenges on international markets.
The impact of the wine crisis on the province of Verona was the focus of a meeting organised by the local Chamber of Commerce. With a 5 per cent drop in wine exports, the economic damage to Verona and its province is estimated at 261 million euros. This is ‘scenario 1’, the most optimistic one, outlined in the study conducted by Economics Living Lab, a spin-off of the University of Verona. As explained by Professor Francesco Pecci, the estimate takes into account not only the losses suffered by wine producers but also those of suppliers and the wider community that works in and benefits from a sector with high added value.
“In terms of exports and production value,” commented Paolo Arena, president of the local Chamber of Commerce – Verona, like other wine-producing provinces, adds the wine tourism phenomenon, capable of generating further benefits and jobs that add further value to an essential asset for our region.”
According to the Chamber of Commerce’s Research and Studies Department, Verona is one of the country’s leading wine-producing regions, with over 7,000 winegrowers, more than 24,000 hectares of vineyards, 15 DOC and 5 DOCG designations.
“Wine,” concluded the president of Coldiretti Verona, Alex Vantini, “is not merely an agricultural sector, but an economic driver that generates employment, tourism, services, trade and value for the local area. Faced with falling consumption and profitability, bold decisions are needed throughout the supply chain, first and foremost a halt to authorisations for new vineyards. At the same time, we need to strengthen dialogue between operators in the sector, including the catering industry, where in some cases mark-ups on bottles exceed 400 per cent and risk driving consumers away from wine.”
