Business in the Vatican

Just like any other state in the world, Vatican is a center of business activities that contribute greatly to its economy. Vatican City is the only independent state in the world within another city and Rome itself is a beehive of business activities. The Vatican is a state that attracts millions of tourists every year and this has largely contributed to its economic independence. The Vatican is a business center and it also has its own independent Bank- the Vatican Bank.

There are many different types of business activities that take place in Vatican. One of these major business activities is tourism. Factually, Vatican is one of the most beautiful places in the world. The whole area of the Vatican is full of museums, parks, gardens, magnificent buildings, churches, mountains, hills, etc. These attractions are incredible and keep on attracting people from all over the world to view them and learn about their history and meaning in relation to the Catholic Church. The Vatican has also put in place measures to promote tourism to ensure security in and around the Vatican, providing online booking services, providing guided tours and investing in support facilities within the area. The major challenge that the tourism business in the Vatican is facing is the high rate of crime. However, the Vatican officials are putting in measures to reduce the crime rates and give a further boost to the tourism businesses.  

Construction of restaurants, bars, hotels and other recreational facilities is also one of the business activities that are blooming in the Vatican. There are many hotels and other structures that offer accommodation services to the visitors of the Vatican, with high class services. The hotels are different and vary in terms of prices; whether you want expensive or cheaper hotels, they are available.

Shopping in the Vatican is also very easy and interesting. There are all sorts of shopping centers ranging from open air markets to stalls. If you want to buy local items that are directly related to the Vatican, then you will find them on the Vatican streets. Roman Catholic items like rosaries are easily available in the streets and you will meet numerous people shopping and selling these items.

The Vatican bank has also undergone several changes despite the challenges it has been facing. With the new president of the bank recently appointed, he has promised transparency in the bank’s activities and this has left people in the Vatican more hopeful for accountability of the Vatican funds. With the current situation of businesses in the Vatican, more opportunities are opening up and the place is continually becoming more and more important in the business community of Italy and the world.