Italy’s biggest bank, Intesa Sanpaolo, has announced a landmark deal with the Ministry of Culture to invest €5 billion into the country’s heritage and tourism sectors.
Called the ‘Pact for Tourism 4.0’, the investment will take place over three years and will include money for training workers in the tourism sector, technological innovation, and modernization of tourist accommodation.
A large portion of the money will also go towards restoration and redevelopment projects, making more buildings available for cultural purposes.
In 2017, the Italian government offered to give away more than 100 historic buildings for free, on the understanding that any prospective owners must turn their site into a heritage attraction. A further 200 buildings, including castles, farmhouses and monasteries, will be made available over the next two years.
