Displaying items by tag: private sector

Italy is turning to the private sector to try to increase the profitability of some of its cultural treasures, including the Uffizi gallery in Florence and Borghese gallery in Rome.

Under a new initiative sponsored by the government of the prime minister, Matteo Renzi, Italy’s cultural centers are likely to begin to look more like other great museums around the world, including the Metropolitan Museum of Art in New York, by opening more restaurants, gift shops, ticket booths, guides, and other tourist-friendly additions that can start generating bigger profits.

Berlin's art scene continues to grow. After over two years of controversy and political wrangling, the Bundestag's budget committee has approved €200 million for the construction of a new museum for modern art in Berlin, the DPA reports. The plan was confirmed by the SPD political party's budget expert Swen Schulz on Thursday. The new building is expected to open in 2021.

The confirmation brings an end to years of uncertainty first about whether Berlin would get approval to create its new museum at all, and later regarding who would pay for the creation of the institution (see "Will Private Sector Fund German MoMA?").