Italy's biggest bank, Intesa Sanpaolo, will invest €5 billion in Italy's tourism sector over the next three years, in a deal with the Ministry of Culture.
The deal, called 'Pact for Tourism 4.0,' also includes money for training workers in the industry, as well as tech innovations, modernization and more. It will help support a sector that accounts for around 12% of Italy's gross domestic product and 12.8% of jobs.
“I’m really happy with this agreement which marks a change of direction in how tourism is dealt with; a sector in which we not only have to get out of a crisis, but also to steer a strong growth,” said Culture Minister Dario Franceschini. "I say to entrepreneurs: invest in tourism! There's a need for both the public and private sectors to play their part."
In recent years, a number of well-known companies have financed restoration of significant cultural and artistic venues, including Rome's Colosseum, Trevi Fountain and Spanish steps. Most of the companies have been in the food or luxury goods fields. Two of the latest include restoration of frescoes in Naples' catacombs, paid for by a big prosciutto producer, and the restoration of Leonardo's The Last Supper, to be paid for by the Eataly food chain.
Photo: PHeymont/TravelGumbo
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