Private investment into tourism
ROME - Intesa Sanpaolo, has announced a deal with Culture Minister Dario Franceschini to invest 5 million euros into tourism.
Large sums for investment of this kind are likely to be channelled into the developmental elements of the tourism industry such as refurbishment and repurposing in order to optimise a site to attract tourists.
Investment from private funds have increased in the past few years such as Gucci funding the restoration of Florence’s Bobili Gardens.
Private enterprise investing in tourism as a means of increasing their own customer base is a mutually beneficial arrangement with the state, as Franceschini said, “there’s a need for both the public and private sectors to invest” in the sector that makes up 12 percent of the nation’s economy.