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Supply and Demand in Rome

4023 words (16 pages) Business Assignment

1st Dec 2020 Business Assignment Reference this

Tags: Business AssignmentsInternational Business

Background

A map of Italy highlighting Rome

Rome, also known as the Eternal City, is the capital city of Italy and was once the center of the ancient Roman Empire. Today, it’s a historical and cultural centerpiece within Europe. According to legend, Rome was founded in 753 BC by Romulus and Remus, twin brothers raised by a female wolf.  Now, it’s the crowning jewel of modern Italy, with over 2.8 million inhabitants and some of the most iconic landmarks in the world.

Rome is one of the most ancient and culture rich cities in the world. They are home to historical masterpieces like Basilica di Santa Maria Maggiore, the Pantheon and the Trevi Fountain. It was also the birthplace of famous artists like Nicola Salvi, Arnaldo Putzu, and Michelangelo. Today, you can still see these artist’s works displayed throughout the nation, including the La Pieta and Michelangelo’s Moses.

Arriving Figures

In 2017 Euromonitor International declared Rome as the 12th most visited city in the world and the 3rd most visited city in Europe. That year, Italy registered over 58 million international tourists, making Italy one of the top five countries with the largest number of foreign tourists. The expenditure of international visitors amounted to 27.7 billion US dollars in 2017, making up almost thirteen percent of the Italian gross domestic product. In 2018, Italy had over 62 million visitors with over 9 million of those tourists visiting Rome specifically.

Why do people visit Rome?

Rome is famous for it’s ancient architecture, showcasing pieces of history dating back to 753 BC. Rome has over 25,000 points of historical, artistic and archeological interests for guests to enjoy, making it an attractive destination for many art and history enthusiasts. It’s also central to many of Italy’s other city, making it a perfect home base for tourists.

Demand side of Rome

Sports

  • The Rome Marathon
    This race takes place annually in late Spring and is one of the greatest marathons in the world.
  • 1000 Miglia
    What started as an open road endurance race for sports cars in the late 1920’s has become one of the most famous races in the world. It’s a race known for it’s beauty, elegance and luxury.
  • The Internazionali d’Italia
    The Internazionali d’Italia is one of the most important tennis events in the season, and is known as one of the most prestigious red clay tennis tournaments in the world.

Leisure

  • Negroni Week in Rome
    in 2019, Negroni celebrate it’s 100th anniversary with their annual festival in early summer. Its seven days long celebrating the world’s greatest cocktails and raising money for charities around the world.
  • Rome’s European Music Festival
    Over 4,000 musicians play in over 450 locations for free throughout Italy. It’s an eight-hour festival that allows both amateurs and professionals to play in town squares, parks, churches, hospitals, local markets and more.

Corporate

  • Social Media Week
    Social Media Week is one of the world’s premier conferences in the marketing industry. The idea behind the conference is to give professionals ideas and opportunities to advance themselves in their organizations.
  • Expo Consumatori 4.0
    This Italian exposition is dedicated to the issues of sustainability and the role of the consumer in society. The event takes place annually in Auditorium Parco della Musica.
  • International Conference on Environmental Science and Development
    This conference aims to bring together leading experts in the field of environmental science to exchange their research.
  • International Conference on Agriculture and Horticulture
    Concentrating on the global state of agriculture, this event is created to help people who are directly or indirectly related to the industry.
  • International Conference on Sustainable Development
    This conference provides a forum for sharing ideas, presenting research and discussing issues in sustainability.

Association/Profession/Club

  • Grande Venerdi de Enzo
    This event is hosted by ADCI, the Italian Art Directors Club, to allow meetings between agencies and young people looking to get into the industry. ADCI’s main objective is to improve the standards of creativity in the field of communication and to promote awareness of the importance of these standards within the institution.
  • Classical Association Conference
    FIEC hosts an annual conference of the International Federation of Classical Associations. The event includes workshops, lectures, panels and cultural activities.
  • SBL International Meeting
    SBL is the Society of Biblical Literature. They meet annually in Rome and provides an unique forum for international scholars.

Government Market

  • Scienza in Parlamento
    Science in Parliament is hosted by the AISUK, the Association of Italian Scientists in the UK, and the Luiss School of Government. It’s a gathering of an independent group of researchers, scientists and journalists who are wanting to create a permanent and politically impartial office that provides scientific and technological advice to the Italian Parliament.

  • The Opening of the Scala Santa
    The Scala Santa is the pontifical shrine in Piazza San Giovanni in Rome. It was closed for restoration, but now it’s reopening to the public

Supply Side of Rome

Rome is the capital of Italy and one of the most popular destinations in Europe. With it’s rich history and amazing culture, Rome is a popular place to host events. According to the Statista Research Department, the annual occupancy in hotels in Rome is 70 percent and is consistently growing.

Business Venues

  • Barcelo Aran Mategna
    Hotel Barcelo Aran Matenga is a beautiful hotel with it’s own two-story convention center. It has an auditorium for 450 guests and has a total capacity of 1,500. It’s located in Garbatella, the business district of Rome, and is therefore the perfect location for many business events.
  • Sheraton Roma Hotel and Conference Center
    The Sheraton Roma hotel is owned by Hiltion as part of their Bonvoy chain. This hotel also features their own conference center with 30 events rooms and a total of 76,983 square feet of space.

Festival Venues

  • Auditorium Parco dealla Musica

This auditorium is one of the most popular venues for festivals in Rome. It has over eight different spaces, the foremost being Sala Petrassi with 673 seats, Sala Sinopoli with 1,133 seats and Sala Santa Cecilia with 2,744 seats. Rome is hosting their annual summer fest here at the Auditorium Parco dealla Musica.

Entertainment Venues

  • Teatro Belli
    Teatro Bellii is a beautiful art theater located at the Piazza Sant’Apollonia in Rome. The venue can be rented as a meeting, conference or special occasion space.
  • Teatro dell’Opera di Roma
    This opera house is a legendary music venue known for it’s amazing acoustics. The current venue seats 1,600 guests.
  • Beba Do Samba
    Beba Do Smaba is a live bar that can also be turned into a music venue.
  • Bowling Brunswick Roma
    This is a bowling venue that is ideal for birthdays and other special events. The venue can host up to 200 guests.

Sport Venues

  • Stadio Della Roma
    This new stadium has 52,500 seats and is a custom designed soccer stadium. Stadio Della Roma boasts that every seat offers amazing views of the sporting event. The stadium was built to pay tribute to Rome’s history, but also to showcase modern Italian designs. This stadium is said to be the anchor for a larger privately owned multi-purpose development, transforming the way Romans experience sports and entertainment in their daily lives.
  • Stadio Olimpico
    The Stadio Olimpico opened in 1953 and still remains one of Rome’s most popular stadiums. With 72,698 seats the stadium the stadium has hosted several Champions League Finials as well as the 1960 Olympic Summer Games.

Stadio Olympico

Stadio della Roma

DMO of the Destination

Roma Turismoroma
Roma is the city’s official DMO. They organize the promotion of events in Italy and abroad, participate in Italian and international tourist fairs, coordinate welcome services and promote Rome as a world-class destination.

Top down or Bottom up?

Roma Turismoroma takes the top down approach. They are run by the Dipartimento Turismo – Formazione e Lavoro and focus on the management, promotion, inclusion and global involvement.

The top down approach includes initiatives like policymaking, planning, and strategizing as support platforms, funding, researching to support demand-side initiatives, and participation in national and regional event bids. It also includes enhancing learning networks, fostering globally competitive clusters with high potential, and pursuing special interest segments. Roma Turismoroma focuses on all of these aspects, listing their responsibilities as management of tourisim welcome services, organization and promotion of regional and international events, raising Rome’s profile internationally, participating in national and international fairs, coordinating projects that focus on special interest segments, creating tourist publications, coordinating welcome services in the historic centers, and monitoring abuse in the business sector.

Event Portfolio of Rome

 

 

Business

Sports

Entertainment

Festivals and Culture

International

-Social Media Week

-International Conference on Tourism and Business

-International Swimming Competition

-Pizza di Siena Horse Show

-BNL International Tennis Tournament

-France in Scene

-Literature: International -Festival of Rome

 

Hallmark Events

-Expo Consumatori 4.0

-Rally di Roma Capitale

-Roman Summer Festival

-Festival del Verde e del Paesaggio

Iconic Events

 

- 1000 Miglia

-Hippy Market Festival

-Festa Madonnadella Neve

-Festa della Befana

National

-INFORMS Society for Marketing Science

-Mastering Business Analysis

 

-The Art of Saving Art: Fragments of Italian History

-Along the Tiber

-VinoForum

-Citta della Pizza

-Fish and Wine Festival

Regional

-Rome Digital Marketing Conference

-Mondofitness Festival

-Frank Holliday In Rome

-Rome Hortus Wines

-Circus Maximo Experience

 

Local

-Bee Fest at Between the Rivers Farmers Market

-Full Moon Cycle in Rome

-Gergory’s By the River Concert

-Opening of the Scala Santa

 

Unique Events in Rome

Rose Petal Ceremony at the Pantheon

This ancient ceremony symbolizes the Holy Spirit’s descent to Earth. Fire-fighters drops tens of thousand of rose petals 43 meters into the interior of the Pantheon for the ceremony making a spectacular scene.

Roma Summer Festival

Hosted annually at the Auditorium Parco della Musica, this summer music festival is one of Rome’s most popular events. They feature every genre of music from rock to pop to classical. The event runs from May 26th to August 1st in 2019 and features over 40 concerts with international acts.

New Event: Fall Sidewalk Art Festival

When: Friday, October 2, 2020- Sunday, October 4, 2020

Where: Downtown Rome

Downtown Rome is an ideal place to host a sidewalk art festival. Being in the heart of Rome, it’s a central location for many of the hotels and is only a few miles away from the airport. Downtown has plenty of infrastructure, providing the concrete, space and light needed for this kind of festival.

Early October is the low end of peak season for Rome. The weather is idyllic, hotels have more space available, and it’s after the busy holidays in August. The event will showcase not only painting and drawing, but every expression of art, expressing the culture of Rome. Musicians will be encouraged to sign up for positions around Rome, dancers will be invited to have performances on the streets, and food trucks available to showcase their cuisine. Rome has a very culture-rich history, and having a fall sidewalk art festival will only add to it.

Brief Introduction

The Fall Sidewalk Art Festival will feature artists both professional and novice, will showcase the culture of Rome. Vendors and performers from across the nation will join, celebrating art in all of its many forms. The festival will last four days in early October and be held in the streets of Downtown Rome.

Sustainability of the destination

In 2013, Rome became a part of an European resilience project called 100 Resilient Cities. 100 Resilient Cities was created to help cities around the world become more resilient to the physical, social, and economic changes of the world. Their goal is to leave a better tomorrow for future generations, and in doing so, they’re slowly creating a sustainable city.

In 2018, Rome released their strategy to create a sustainable economy and environment. The strategy is broken into four pillars and priority actions. The first is to create an efficient city at the service of the citizens. This pillar includes creating an operation and management center and establishing a resilience office. Within this pillar, Rome has outlined action steps to achieve their goal. They plan to link the budget commitments to three-year annual programming of the Department’s activities, establish guidelines to optimize the planning, construction and management projects, construct a smart grid and more.

The second pillar is to create a dynamic, strong and unique city. To do this, Rome is planning on governing the relaunch of the Tiber River by implementing projects coordinated by the special office for the Tiber, evaluate the resilience potential of the Ostiense Marconi district, and promote the archeological and cultural heritage sites in Rome for citizen’s every day life. The outline action steps for this pillar includes supporting stakeholders in the contemporary culture sector, apply for the Ostiense Marconi district to become apart of the UNESCO World Heritage sites, create tourist facilities to promote student and youth involvement, create infrastructure and pilot projects to reduce the risk of flooding, and much more. Rome is actively trying to make their city safer and more sustainable for their citizens.

The third pillar is for Rome to be an open inclusive and supportive city. To do this, Rome plans on implementing a program to promote sports to enable social integration of diverse communities. They’re also creating a new social integration program for asylum seekers and others covered by international protection. To do so, Rome plans on establishing assessment criteria to assign public spaces to these programs, finalize the Public Housing Development Programs and develop new energy-efficient social housing, introduce projects for the inclusion of children and youths, and implement new intervention policies for unaccompanied foreign minors.

The fourth pillar is to create a city that protects and enhances its natural resources. Rome has a negative reputation for environmental sustainability. With the amount of traffic, poor waste management, and rising waters, Rome has struggled with keeping their environment safe. With this new initiative, they’re hoping to start reversing decades of abuse to their city. They will start by renewing the public vehicle fleet and introduce eco-sustainable busses for public transportation. Rome also plans to optimize separate waste collection of post-consumer materials. The action steps for this pillar include incentivizing the use of renewable resources, developing an efficient and economic transport system, protecting and enhancing water resources, developing the pedestrian and cycle network throughout the city, develop sustainable waste plants and more.

With this strategy in place, Rome hopes to make a recovery economically, socio-culturally and environmentally, re-establishing their city as a sustainable and diverse destination.

Sustainability of the Event

Economic

The addition of the Fall Sidewalk Art Festival will encourage guests to extend their stays after the busy holiday season in August and September. It will encourage artists from around the world to showcase their talents and musings in an unique environment. The festival will also increase employment, as it will need a large team to run efficiently. Local vendors and products will also be showcased, allowing the money to circulate within their economy.

Socio-cultural

Rome is the heart of art culture, and the Fall Sidewalk Art Festival will capitalize on that. It will be open to the public and be advertised world-wide. Young artists will have the opportunity to participate, as well as renowned singers, painters and dancers. The festival will highlight Rome’s history and rich culture.

Environmental

The festival will promote sustainability throughout its entirety. Vendors will be asked to use bio-degradable cutlery and use compost bins for leftover food. The new eco-busses will transport guests downtown, and the rest of the festival can be enjoyed on foot or by bicycle, cutting down on traffic and air pollution. Recycle and trash bins will be prominent throughout the event, giving guests an easy and convenient way to dispose of their trash.

Destination image

Rome is already known for its amazing works of art and prestigious festivals. However, the Fall Sidewalk Art Festival will encourage everyone to participate, from the novice to famous. This will promote Rome’s image as being inclusive, diverse and cultural.

 

Sidewalk Painting in Milan

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