Rome anticipates a €17 billion economic boost from the 2025 Jubilee, though experts caution that estimates might be overblown and housing costs could rise.
Category
🗞
NewsTranscript
00:00Jubilee spending and tourism are expected to boost the economy, but it seems estimates
00:07might have been too optimistic. More than 30 million pilgrims are set to flock to Rome.
00:12Nearly one month in, half a million visitors have already passed through the holy door
00:16of St. Peter's Basilica. It's too early to assess the economic impact of the jubilee
00:21as Professor Celata tells us. Celata, who works at La Sapienza University in Rome, believes
00:26forecasts are overrated.
00:56The trend is confirmed by a recent study on the possible effects of tourist consumption
01:06during the holy year. Although prices are set to increase, it's not yet a sold out
01:30situation. While the availability of properties for long term rentals is limited, as many
01:35are used as holiday homes, most of them remain empty. Alessandro Calardo is both the owner
01:40of a bed and breakfast in Rome and an estate agent. He knows the market well.
02:05But the question for Rome, a city that has long struggled with over-tourism and poor
02:24local governance, is whether the 2025 Jubilee will be remembered as a missed opportunity
02:29for renewal for the Italian capital. Giorgia Orlandi for Euronews in Rome.
02:35Euronews.com