Vatican's 2025 Jubilee: Economic boost or missed opportunity?

euronews (in English)

Rome anticipates a €17 billion economic boost from the 2025 Jubilee, though experts caution that estimates might be overblown and housing costs could rise.

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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

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