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New Recovery for Italy Tourism to the Tune of 1 Billion Euros

Intesa Sanpaolo banking group has committed to help SMEs recover

1 Billion Euros for Italy Tourism Recovery

The Italian international banking group of Intesa Sanpaolo has made 1 billion euros available to support the recovery of small- and medium-sized enterprises in the tourism sector. It encourages investments that go in the direction of sustainable tourism, in line with the path of the National Recovery and Resilience Plan (PNRR).

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The initiative, in synergy with Sace, a state body that works on the internationalization of companies, is the first direct intervention to SMEs (small- and medium-sized companies) in the sector as part of the Italian motor strategic program. The investment plan of the institute of credit, provides for the provision of additional resources for 120 billion, this year launched with a ceiling of 50 billion, which will go to supplement the funds provided by the NRP for the relaunch of the country. In particular the sectors of digitization, transition ecological, sustainable mobility, education and research, inclusion and cohesion, and health are being focused upon.

The support interventions announced by the banking group led by Carlo Messina will finance SMEs in the sector mainly in 3 areas: upgrading and increasing the quality standards of accommodation facilities, environmental sustainability of the offer, and digitalization. The measures provided for by decree law 43 relating to the measures of PNRR Tourism will also be integrated into the initiative.

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

Already during 2020, Intesa Sanpaolo supported tourism companies by activating the suspension of 70,000 loans for a value of 8 billion and disbursing billions of new finance through dedicated products.

“Tourism was inevitably one of the sectors most exposed to the pandemic. Right from the start, we offered our support by making 2 billion euros available to meet the immediate liquidity needs of companies,” said Stefano Barrese, head of the Bank of the Territories Division of the Institute.

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 enterprises in the tourism sector to be accompanied in the transition. We appreciate Intesa Sanpaolo’s willingness to support the restructuring of Italian hotels,” highlighted the President of Federalberghi, Bernabò Bocca.

According to Maria Carmela Colaiacovo, President of the Italian Association of Confindustria Hotels, “The package of interventions identified is very well calibrated for the sector.”

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

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About the author

Mario Masciullo - eTN Italy

Mario is a veteran in the travel industry.
His experience extends worldwide since 1960 when at the age of 21 he started exploring Japan, Hong Kong, and Thailand.
Mario has seen the World Tourism develop up to date and witnessed the
destruction of the root/testimony of the past of a good number of countries in favor of modernity/progress.
During the last 20 years Mario's travel experience has concentrated in South East Asia and of late included the Indian Sub Continent.

Part of Mario's work experience includes multi activities in the Civil Aviation
field concluded after organizing the kik off of for Malaysia Singapore Airlines in Italy as an Institutor and continued for 16 years in the role of Sales /Marketing Manager Italy for Singapore Airlines after the split of the two governments in October 1972.

Mario's official Journalist license is by the "National Order of Journalists Rome, Italy in 1977.

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