Summarize this content to 2000 words in 6 paragraphs in Arabic
\n Rome anticipates a \u20ac17 billion economic boost from the 2025 Jubilee, though experts caution that estimates might be overblown and housing costs could rise.
\n ADVERTISEMENTJubilee spending and tourism are expected to boost the economy of Italy’s capital, but it seems estimates might have been too optimistic. More than 30 million pilgrims are set to flock to Rome. Nearly one month in, half a million visitors have already passed through the Holy Door of St Peter\u2019s Basilica.But some have not yet felt the massive influx \u2014 and major earnings \u2014 everyone is expecting.Alessandro Galardo owns a bed and breakfast in Rome and is an estate agent. He knows the market well and explains why both the long-term and short-term let sectors are struggling. For the first time, his business has suffered a sharp decrease in bookings.\u201dPilgrims don\u2019t usually stay in holiday homes. They tend to choose places where they can be accommodated with other pilgrims and spend much less,\u201d Galardo said. \u201cAdditionally, many visitors who don\u2019t want to be surrounded by crowds and prefer to enjoy the city as it is, have chosen to postpone their visit by a year or two,” he added.”This January 2025, the first month of the Jubilee, bookings have decreased by 60 to 75% compared to last year and previous years.\u201dIt’s too soon to tellThe projected turnover for the Italian capital is between \u20ac4 and \u20ac4.5 billion, and other cities are also expected to benefit. According to data released by Italy\u2019s Ministry of Tourism, the Jubilee is forecast to generate an estimated expenditure of \u20ac17 billion in Rome alone.According to Professor of Economic Geography at Rome’s Universit\u00e0 La Sapienza Filippo Celata, It\u2019s too early to assess the economic impact of the Jubilee and that forecasts are often exaggerated. \u201cIn general,\u201d Celata told Euronews, \u201cthe Jubilee is about driving investments and drawing visitors. In the case of Rome, the city usually takes advantage of these situations to compensate for the lack of ordinary resources to invest in.\u201d\u201cDespite its religious nature, the whole event is part of a touristification process which is mainly centring around visitors.\u201dCelata says that major events often come with overestimated projections on visitors and economic impact, adding that it\u2019s possible to draw lessons from previous Jubilees and, in this case, from a report issued by the Bank of Italy on the impact on the economy of 2000 Jubilee. \u201dWe can observe the structural effect of the 2000 Jubilee,\u201d Celata told Euronews, \u201cwhich is quite similar to this one in how the city of Rome is exploiting this opportunity, as a result, new permanent job opportunities are being created in poorer sectors, along with a rise in housing costs.\u201dJubilee for Vatican, renewal for Rome?A recent study carried out by IZILab and SoloAffitti on the potential effects of tourist consumption during the Holy Year confirms this trend, as one of the authors explains. Martino Bellincampi, the CEO of IZILab told Euronews that projected rental costs are already climbing. ADVERTISEMENT”In 2023, we already recorded a 13% rise compared to 2022. This year, the forecast is for an increase of up to 17%. This occurs in an already complicated housing market,\u201d Bellincampi explained. “Rome has a limited availability of rental properties, and interventions by public bodies are not enough to solve the issues.\u201dAlthough prices are set to increase, it’s not yet a sold-out situation. While the availability of properties for long-term rentals is limited, as many are used as holiday homes, most remain empty. The same applies to hotels. In a recent interview, the president of Federalberghi, the Italian federation of hoteliers, Bernab\u00f2 Bocca, said that tourist arrivals are expected to pick up again in March. However, he estimates the overall number of arrivals will remain the same as in 2024.ADVERTISEMENTBut the question for Rome \u2014 a city that has long struggled with overtourism and poor local governance \u2014 is whether the 2025 Jubilee will be remembered as a missed opportunity for renewal for the Italian capital.<\/p>\n","protected":false},"excerpt":{"rendered":"
Summarize this content to 2000 words in 6 paragraphs in Arabic Rome anticipates a \u20ac17 billion economic boost from the 2025 Jubilee, though experts caution that estimates might be overblown and housing costs could rise. ADVERTISEMENTJubilee spending and tourism are expected to boost the economy of Italy’s capital, but it seems estimates might have been<\/p>\n","protected":false},"author":1,"featured_media":160857,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[60],"tags":[],"class_list":{"0":"post-160856","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-politics"},"_links":{"self":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/posts\/160856","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/comments?post=160856"}],"version-history":[{"count":1,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/posts\/160856\/revisions"}],"predecessor-version":[{"id":160858,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/posts\/160856\/revisions\/160858"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/media\/160857"}],"wp:attachment":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/media?parent=160856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/categories?post=160856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/tags?post=160856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}