Italy Council of Ministers Approves Measures to Boost Tourism Now

1. €191.5 billion in resources being allocated through the Recovery and Resilience Facility.
2. This plan is an intervention that aims at repairing the economic and social damage caused by the pandemic crisis.
3. Funding includes investing in 2 key sectors for Italy, namely tourism and culture, utilizing a digital approach for the relaunch.

The National Recovery and Resilience Plan (NRRP) presented by Italy envisages investments and a consistent reform package, with €191.5 billion in resources being allocated through the Recovery and Resilience Facility and €30.6 billion being funded through the Complementary Fund established by Italian Decree-Law No. 59 of May 6, 2021, based on the multi-year budget variance approved by the Italian Council of Ministers on April 15.

The Plan is developed around 3 strategic areas shared at a European level: digitization and innovation, ecological transition, and social inclusion. It is an intervention that aims at repairing the economic and social damage caused by the pandemic crisis, contributing to addressing the structural weaknesses of the Italian economy, and leading the country along a path of ecological and environmental transition and has 6 missions which includes tourism.

“Digitization, Innovation, Competitiveness, Culture” allocates a total of €49.2 billion (of which €40.7 billion from the Recovery and Resilience Facility and €8.5 billion from the Complementary Fund) with the aim of promoting the country’s digital transformation, supporting innovation in the production system, and investing in 2 key sectors maka .tali, namely tourism and culture; in other words, a digital approach for the relaunch of tourism and culture.

Onye isi ala nke Federalberghi, the Italian national hotelier association, Bernabo Bocca, said that this is an important injection of confidence for businesses and workers, and he thanked the Italian Minister of Tourism, Massimo Garavaglia, for having accepted the application of Federalberghi. Bocca went on to say:

“[This is] an important confidence boost for tourism businesses and workers. The measures provided for by the decree offer an important contribution to the restart, as they support the redevelopment of accommodation facilities, with non-repayable contributions and tax credit, and accompany the disbursement of credit, for ensur[ing] the business continuity of companies in the tourism sector and guarantee liquidity needs and investments.

“We thank Minister Garavaglia for having accepted the requests of Federalberghi, activating tools to help companies overcome this phase which for many is still complicated, and to make the investments necessary to compete with the fierce international competition.”

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