The 2025 Giro d'Italia generated an estimated €2.1 billion in total economic impact for Italy, according to a study by Ifis Sport, the research division of Banca Ifis, presented by organisers RCS Sport at the BIT International Tourism Exchange in Milan on Tuesday.
The study, which accounts for both direct spending during the race and indirect expenditure from subsequent tourism, found that live spectator numbers rose 4.5% year-on-year to 2.3 million. Total visitor presences exceeded 5.5 million, with an average daily per-capita spend of €124, the research said.
The figures continue the upward trend recorded since RCS Sport and Banca Ifis began systematic economic measurement of the race in 2023.
This sits at odds with a underlying caution from many regions to take on hosting of a major Grand Tour. As we reported in 2025, Limburg rejected the prospect of a Vuelta a España start on account of perceived "financial risks".
Data from the Grande Partenza, the race's traditional opening stages held in Albania last May, provided a specific case study that very much flew in the face of that caution. Among surveyed spectators at the three Albanian stages, 39% attended more than one stage, 42% stayed at least one night, and 93% expressed an intention to visit Italy and purchase Italian products afterwards. Some 74% of respondents said the stages represented an opportunity for tourism promotion.
The race was broadcast in more than 200 countries, with 18.4 million active foreign spectators recorded, 18.1 million of whom followed via broadcast or digital channels and 300,000 attending in person.
Among other activities undertaken by live spectators, nature and leisure ranked first at 52%, followed by cultural and food-and-wine experiences. Cycling tourism accounted for 17% of visitors.
"The Giro is no longer viewed solely as a sporting event, but as a lever for promoting the country as a whole," Paolo Bellino, CEO of RCS Sports & Events, said. He described the €2.1 billion figure as encompassing both immediate spectator spending along stage routes and spending by those who return to host regions for further tourism.
Ivana Jelinic, CEO of ENIT, the Italian national tourism board, said the race "showcases Italian excellence and uniqueness, helping to reveal destinations that are still relatively unexplored."
The Ifis Sport study was commissioned by Banca Ifis, a commercial partner of RCS Sport since 2023, and its methodology relies in part on spectator surveys and economic modelling rather than direct transaction data alone.
Cover image credit: Zac Williams/SWpix.com
