The tourism sector in Italy is set for a boost after the government announced a plan that will see the country’s major banks providing €1.6 billion (£1.38 billion) in funding for the tourism sector in the country.

Prime minister Silvio Berlusconi said the plan was to double the contribution the sector makes to Italy’s gross domestic product to around 20 per cent, noting that the country presently lags behind nations like Spain in this regard.

This will see tourism companies being able to apply for low-interest loans of up to €2 million for construction projects.

Such a situation may boost Italy property investors looking to rent out homes to visitors, as the investment could lead to a major enhancement of the tourism facilities available in the country.

Britons have been increasingly drawn to Sicily as an Italian property destination in the past two years, Country Life reported recently.

It noted that most UK buyers are attracted to the east side of the island.

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