ROME - UniCredit bank has launched a programme to help revitalise Italy's tourism industry by offering innovative support for the development and improvement of the services provided to visitors.

The UniCredit 4 Tourism programme, a new line of banking products and loans for businesses involved in tourism, targets Italy's untapped potential, said UniCredit high officers during a launch attended by Italy's Minister of Cultural Heritage and Activities and Tourism Dario Franceschini, in Rome. Franceschini, praising the initiative, stressed the need for better, improved synergies between public and private entrepreneurship.

Italyhas a brand that is unequalled in the world and heritage with infinite potential. It is up to us Italians to make visiting the country more attractive. With UniCredit 4 Tourism, the Group pledges to provide structured and complete support for Italy's tourism operators so they can improve their hospitality, it was stated.

International tourism generated €165 billion for Italy's economy in 2013, representing roughly 10 per cent of the country's GDP. Tourism directly provides jobs to over one million Italians and creates roughly 2.6 million indirectly. However, considering the exceptional historic, artistic, cultural and natural attractions to be found in the country, those figures can be greatly increased, according UniCredit.

“Tourism,” added Gabriele Piccini, Country Chairman Italy of UniCredit, “represents eight per cent of the overall exports from Italy, third after Textiles/Clothing and Transport. In terms of international arrivals, Italy is only fifth in the world, with a number of visitors that is approximately half of France's, behind Spain's, and facing growing competition from Turkey. When we consider that Italy is the world leader in the number of UNESCO World Heritage Sites, we can see there is a wide margin for improvement”.

Outlining the details of UniCredit 4 Tourism, he said that the new programme aimed to help modernise Italy's image and ensure the development of high-quality services for tourists, opening up more opportunities for the country's economic growth. “UniCredit,” stated Mr. Piccini, “has been involved for some time in specially designed initiatives supporting sectors such as fashion, cinema, food and wine, and made-in-Italy products more generally, and has already developed numerous projects in the tourism industry. Today we support over 45,000 companies in this sector, with loans totalling around € 4 billion”.

UniCredit 4 Tourism focuses on four key pillars of the industry: technology, financing, insurance and skills.

First, in terms of technology, it provides companies access to data analytics from Travel Appeal, a start-up funded by H-Farm Ventures that was recently part of the UniCredit Start Lab. The technology enables operators to use data to analyse their markets, to better manage their reputations and to define effective strategies in order to improve their businesses.

Second, through UniCredit 4 Tourism the Group will make €2 billion in new funding available to Italian tourism businesses by 2018. More than 75 per cent of those funds will go to companies with annual turnovers of less than €5 million, in the knowledge that the industry is predominantly composed of small enterprises.

Third, UniCredit will respond to the insurance needs of companies, offering tailored products in cooperation with strong and already familiar insurance industry partners.

Finally, UniCredit 4 Tourism will support the development of tour operators' financial, marketing and digital skills by organising ‘Tourism Days’, training sessions that will be held from June to December in Costa Smeralda, Treviso, Lecce, Catania and Florence.