Travel Reference
In-Depth Information
Austerity, Culture & Fashion
Italy's well-publicised economic woes have caused headaches in Rome as well as board-
rooms across the eurozone. But while the politicians strive to balance the topics, Rome's
citizens have faced increased taxes and cuts in services. Tensions came to a head in
November 2012 when thousands took to the streets to protest, resulting in clashes between
police and a small minority of demonstrators.
Austerity cut-backs have also affected the city's ability to maintain its high-profile
monuments. To make up for budget shortfalls, mayor Gianni Alemanno has courted
private investment and in recent years has struck deals with two of Italy's best-known
fashion firms. Tod's, the luxury shoemaker, has agreed to finance a major restoration of
the Colosseum costing €25 million, while Fendi has signed up to fund a €2.5 million
makeover of the Trevi Fountain.
Tourism Thrives
Surprisingly, though, all this political and economic turmoil has not adversely affected
tourism, a mainstay of the Roman economy, and the number of visitors continues to grow.
According to figures released by the Comune di Roma, 2012 was a bumper year with 11.9
million arrivals registered, a record for recent times.
