Italy tourism

New recovery for Italian tourism to the tune of 1 billion euros

The initiative, in synergy with SACE, a state organization that works on the internationalization of companies, is the first direct intervention in SMEs (small and medium enterprises) in the sector as part of the Italian automotive strategic program. The credit institute’s investment plan provides for the provision of additional resources of 120 billion, launched this year with a ceiling of 50 billion, which will supplement the funds provided by the PNR for the recovery of the country. The sectors of digitization, ecological transition, sustainable mobility, education and research, inclusion and cohesion, and health are particularly concerned.

The support interventions announced by the banking group headed by Carlo Messina will finance SMEs in the sector mainly in 3 areas: upgrading and raising the quality standards of accommodation structures, environmental sustainability of the offer and digitalization. The measures provided for by Decree-Law 43 relating to the measures of the PNRR Tourism will also be integrated into the process.

There are 2 financing solutions designed in this context. The first is Suite Loan, aimed at tourism companies that want to target the quality of their accommodation structure. The second is S-Loan Turismo, intended to encourage investments aimed at the redevelopment and energy of hotel facilities.

Already in 2020, Intesa Sanpaolo has supported tourism businesses by activating the suspension of 70,000 loans worth 8 billion and disbursing billions in new financing through dedicated products.

“Tourism was inevitably one of the sectors most exposed to the pandemic. From the start, we offered our support by making €2 billion available to meet the immediate liquidity needs of companies,” said Stefano Barrese, head of the Institute’s Territorial Banking Division.

Positive reactions to the initiative were also recorded by representatives of the tourism sector. “The new intervention announced by Intesa Sanpaolo will allow small and medium-sized businesses in the tourism sector to be accompanied in the transition. We appreciate Intesa Sanpaolo’s willingness to support the restructuring of Italian hotels,” said Federalberghi President Bernabò Bocca.

According to Maria Carmela Colaiacovo, president of the Italian Hotel Association Confindustria, “the set of identified interventions is very well calibrated for the sector”.

“Support for the spa sector [also] comes from Intesa Sanpaolo,” added Massimo Caputi, president of Federterme Confindustria.