Travel
Rome’s Jubilee Fails to Deliver Rental Boom, Leaves Landlords Disappointed and Locals Frustrated
As Rome passes the halfway mark of its 2025 Jubilee year, hopes of a tourism-driven economic windfall have dimmed for many landlords and local businesses. Despite major beautification efforts and an expected influx of tens of millions of pilgrims, the short-term rental market has failed to deliver the boom many had anticipated.
Held every 25 years by the Roman Catholic Church, the Jubilee is a sacred event that draws pilgrims from around the world for a year of spiritual reflection and the symbolic passage through the Holy Doors of Rome’s papal basilicas. This year’s celebrations, running from late 2024 through 2025, were accompanied by extensive public works across the city — restoring landmarks like the Trevi Fountain, Spanish Steps, and Castel Sant’Angelo.
However, the anticipated surge in visitors has yet to materialise. While Rome’s streets are bustling and the city appears vibrant and restored, early visitor numbers have not met projections. Reports had predicted up to 35 million pilgrims would descend on the city, but actual figures so far have been significantly lower.
“The renting situation is truly tragic,” said Giulio, a 32-year-old doctor who was forced to relocate after being priced out of central Rome. “Everything around St Peter’s is being used for holiday rentals, leaving locals with few options.”
Real estate firms are also reporting muted returns. Leading agency Tecnocasa noted an 8–10% drop in holiday rental activity during the first quarter of 2025. Many landlords, expecting a Jubilee gold rush, converted residential properties into short-term lets — only to be met with underwhelming demand. “There’s been an oversupply,” explained Tecnocasa’s Fabiana Megliola, “and some owners are already reverting to long-term leases or selling.”
Local business sentiment mirrors this disappointment. “There are tourists, but nothing out of the ordinary,” said Federico Ndoj, who runs a salon near the Spanish Steps. “This whole Jubilee thing was hyped up to make money.”
Others suggest that pilgrims opted for convents or more affordable hotels, bypassing expensive Airbnbs entirely. “People pinned their hopes on pilgrims who never came,” said Rosanna De Bonis, head of SoloAffitti, a major rental agency. “Now landlords are slashing prices — some down to €100 a night — or returning to residential leases.”
While some optimism remains for a stronger second half of the year — especially following the election of Pope Leo XIV — industry insiders suggest the Jubilee’s failure to deliver could mark a turning point. “The holiday rental trend has reached its peak,” De Bonis warned. “Romans want results — and they’re not seeing them.”
Travel
Global Tourism Leaders Meet on Suez Canal Cruise as Middle East Conflict Threatens Summer Travel
More than 300 tourism executives and government officials from around the world have gathered aboard a luxury cruise ship on the Suez Canal to discuss the growing crisis facing global travel as conflict linked to Iran disrupts fuel supplies, aviation routes and summer holiday plans.
The three-day summit, organised by the World Travel & Tourism Council, comes as the tourism industry faces mounting pressure from rising oil prices and ongoing instability around the Strait of Hormuz, a key global energy corridor through which much of the world’s oil and liquefied natural gas normally passes.
Industry leaders warned that the conflict could lead to higher airfares, reduced flight schedules and weaker tourism demand during the peak summer season.
WTTC President and Chief Executive Gloria Guevara said the disruption was already affecting airline capacity worldwide.
“The crisis is affecting airline supply as there are fewer seats available,” Guevara said during the gathering, while expressing hope that the Middle East tourism market could recover within a few months if tensions ease.
Fuel shortages and rising energy prices have sharply increased operating costs for airlines, where fuel already represents one of the largest expenses. Tourism officials fear those costs will eventually be passed on to travellers through more expensive tickets and reduced route availability.
In its latest transport assessment, the European Commission warned that passengers could face delays, cancellations, longer travel times and rising prices if the crisis continues.
Guevara urged governments to consider reducing taxes on airlines to ease pressure on the sector and help prevent further increases in ticket prices.
Sherif Fathi, Egypt’s tourism minister, said the country was already feeling the economic effects of the regional conflict. He noted that tourism arrivals in Egypt fell 16 percent in April due to a reduction in available flights and airline seats.
“The main challenge for international tourism is not demand, but transport supply,” Fathi said, adding that disruptions in maritime, rail and land transport were also affecting global tourism and trade.
European tourism officials said governments across the continent were closely monitoring the situation. Eduardo Santander, head of the European Travel Commission, said European authorities were considering contingency measures if fuel shortages worsen.
He predicted travellers may increasingly choose destinations closer to home this summer, potentially boosting domestic and regional tourism within Europe.
Despite the uncertainty, tourism leaders attending the floating summit stressed that the industry had become more resilient after navigating previous crises including the Covid-19 pandemic and earlier geopolitical conflicts.
Tourism remains one of the world’s largest industries, supporting an estimated 376 million jobs globally and accounting for nearly 10 percent of the global economy. Industry executives said developments in the Middle East over the coming weeks could play a major role in shaping international travel patterns for the rest of the year.
Travel
Rising Jet Fuel Costs Revive Interest in Travelling to Spain Without Flying
Escalating tensions in the Strait of Hormuz are pushing up jet fuel prices worldwide and forcing travellers to reconsider how they reach popular destinations such as Spain, as airlines face mounting pressure from higher operating costs.
The Strait of Hormuz, a crucial global energy corridor, handles around 40 per cent of the fuel used by commercial aircraft worldwide. Continued disruption in the region has sharply increased the price of aviation fuel, creating fresh uncertainty for airlines ahead of the busy summer travel season.
While major carriers are attempting to reassure passengers, concerns are growing across the aviation sector about how long airlines can absorb the rising costs.
Iberia said this week that it plans to maintain its summer flight schedule and avoid introducing additional fuel surcharges despite the worsening energy situation. The airline’s president, Marco Sansavini, said the company’s financial restructuring over recent years had helped it withstand the shock better than some competitors.
However, he acknowledged that the impact on the wider aviation industry could be long-lasting. The parent group IAG expects its fuel bill to rise from €7 billion to €9 billion by 2026, reflecting the sustained pressure on energy markets.
As ticket prices climb, many travellers are again considering alternatives to flying, particularly within Europe.
Rail travel remains one of the main options, especially for passengers travelling from neighbouring countries. Spain’s high-speed rail network has improved its international connections in recent years, including services linking Barcelona with Paris and routes operated between Madrid and Lyon.
Yet Spain still faces major rail connectivity challenges. Much of the country’s railway system uses a different track gauge from the rest of Europe, limiting seamless international travel. Direct rail connections from the United Kingdom to Spain do not currently exist, and journeys from northern Europe often require multiple transfers and lengthy travel times.
Ferry travel is also attracting renewed attention. Routes linking southern England with northern Spanish ports such as Santander and Bilbao continue to operate, offering crossings lasting between 24 and 35 hours. Operators including Brittany Ferries have seen interest from travellers seeking alternatives to increasingly expensive flights.
Long-distance bus services are another option for budget-conscious travellers. Companies such as FlixBus operate routes connecting Spain with major European cities including Amsterdam, Milan and Paris, although journeys can last up to 20 hours.
Electric vehicles are also becoming a more practical alternative as charging infrastructure improves across Europe. Travellers driving from countries such as Germany, Belgium or France can increasingly reach Spain using major charging corridors, though infrastructure gaps remain in some inland regions.
Analysts say the situation highlights Spain’s heavy dependence on air travel. Tourism remains a cornerstone of the Spanish economy, while destinations such as the Canary Islands and Balearic Islands rely almost entirely on aviation links.
Industry experts warn that if major airlines reduce services or significantly increase fares because of fuel costs, Spain could face a direct impact on visitor numbers during the peak travel season.
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