Rome: Financial Struggles and Cultural Heritage

In 2017, everyone heard about the sad Christmas tree of Rome. It was nicknamed “Spelacchio,” which means mangy, and became a little bit of a joke, or at least a conversation starter. Beneath the sickly needles of that tree, however, lay a troubling reality. Rome is financially depressed and for the stewards and admirers of the city’s cultural heritage, this was a symbol of a beautiful city struggling.

Since 2015, Rome has been in the news because of its precarious financial position. It has been plagued by a brutal combination of corruption, debt and chronic mismanagement. Reports that the city is on the verge of collapse have been following it for years. The state of its cultural heritage is a concern for many. It is not only a symbol of the eternal city’s historical wealth, but a necessary source of revenue the city needs to maintain any kind of healthy economic prospects.

Rome’s monuments are everywhere you look and their upkeep and care is a significant financial burden to the city and state. Just a little over a year ago, the city was asking private donors for more than €550 for historic preservation. People want to contribute, but the legacy of corruption and mismanagement is a liability. Recently, the debate over who should take over the stewardship of the Colosseum was settled and the State of Italy will now be in charge of the ancient amphitheater and will proceed with plans to modernize it, leaving Rome to miss out on key tourism revenue.

The larger problem seems to be the mismanagement of the funds that come through the city, more than the lack. Just as shocking as the state of the Christmas tree, was its price tag of €40,000. Until something can be done to reinstate the public’s trust, things will remain in flux.