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We work across the board to develop the Italian tourism industry, optimising accommodation facilities and laying the foundations so that Italian hospitality operators can grow.
Our commitment to tourism
Encouraging development in the tourism industry plays a key role in boosting the Italian economy.
Thanks to the country’s incredible artistic and natural heritage, tourism is one of those sectors with the greatest potential for creating economic wellbeing and new jobs. This explains why we have included tourism as a stimulus for economic and social development in Italy as part of our Industrial Plan. Our integrated strategy for kick-starting the sector is based on five areas of intervention:
Optimising real estate for guest accommodation
We are committed to modernising Italy’s real estate portfolio through the Tourism Investment Fund (“FIT”), a long-term investment in the tourism and hotel sector which is designed to attract institutional investors from Italy and abroad.
FIT investments are aimed at real estate in prime tourist locations in Italy. The objective is to encourage business networking schemes as well as to separate real estate ownership from hotel management.
With a view to establishing next-generation tourist accommodation facilities, we are also focusing on redeveloping vacant publicly-owned real estate complexes, particularly in the south of Italy.
Growing the hotel sector
When it comes to championing the Italian economy, we play a central role in supporting businesses through funding from the banking system as well as corporate loans.
Working in synergy with the banking system, we plough in significant resources to provide easier access to credit for a huge and varied target, including small and medium sized businesses operating in the tourism sector.
As regards loans granted to businesses through the CDP fund brokered by the banking system (Plafond 2009, NPPMI, Piattaforma Imprese e Beni Strumentali), the total amount allocated to the tourism sector as at 30 June 2016 totalled €741 million, with approximately 8,200 businesses benefitting from such loans (around 7% of the total receiving CDP funding to the same date).
The fundamental changes in the types of tourists visiting Italy (both in terms of the services they expect and their geographical and cultural background) is a challenge but also an opportunity for growth for the hotel industry, which is attracting interest from other European investors. Through CDP Equity we are committed to supporting businesses who take a modern, managerial approach to the hospitality sector with a view to boosting competitiveness in Italy’s tourism industry.
One of the objectives of our Plan is to “encourage a mind-shift in infrastructure development”.
As stated in CDP’s “Tourism Industry” Study, the key negative factors influencing a country’s ability to attract tourists are “not only a lack of strategic infrastructure such as airports, ports and high speed trains, but also poorly maintained landscapes, hydrogeological instability, urban decay, a belief that crime rates are high in cities, poor standards of local public services and inadequate digital infrastructure".
As a result we are working on projects to support strategic infrastructure development both through direct loans/investment (e.g. ports/airports) and by drawing on Italy’s Funds for small infrastructure and international Funds for large infrastructure within Europe.
Accessing European tourism funds for the Public Administration
Our action for the tourism industry also includes supporting Italy’s public administrations with projects requiring structural and European investment funds (ESI Funds).
Italy’s national and regional operational programmes include specific projects aimed at fostering the tourism industry, both through integrated product development and loans for businesses in the sector.
As the National Promotional Bank, CDP and its subsidiaries are in a position to manage financial instruments drawn from ESI Funds under a European Commission mandate or at the request of the managing authorities (Ministries, Regions, Agency for territorial cohesion).
Committing to culture
To us, investing in culture means helping to uphold Italy’s cultural heritage and encourage economic growth. We are currently looking into artistic, historical, cultural and environmental projects which will help boost Italy’s tourism industry.
Some of CDP’s pilot projects include creating a permanent exhibition space for the art portfolio we inherited from IRI; a memorandum of understanding with GNAM and Mibact for joint projects promoting Italy’s artistic heritage; and setting up a museum space at the former Geophysical Museum in Largo di Santa Susanna, Rome, owned by CDP Immobiliare.
Social investments made through partnerships with some of Italy’s leading cultural institutions – including La Scala Theatre and the Accademia di S. Cecilia – round off CDP’s commitment to culture.