Bank of Italy Reports Modest Q1 Growth Aided by Winter Games
Italy saw modest first-quarter growth as the Winter Olympics boosted tourism. The central bank warned that energy costs and global conflict pose risks to 2026.
Italy recorded modest economic growth during the first quarter of 2026, largely supported by the Milano-Cortina Winter Olympics. According to the Bank of Italy's quarterly economic bulletin, the international sporting event held in February drove a significant influx of tourists, bolstering the services sector and firm-related activities. While the central bank did not provide a specific numerical estimate for the gross domestic product (GDP) in the first three months of the year, the report suggested a continuation of the moderate expansion seen in late 2025. The euro zone's third-largest economy previously grew by 0.3% in the fourth quarter of last year.
The Milano-Cortina Winter Olympics are estimated to have made a positive contribution, as shown by data on the presence of foreign tourists and on international flights.
