3 Important Revenue Sources Of Vatican
By Bindu Jacob | August 27, 2014 1:10 PM EST
Vatican City is an ecclesiastical monarchical state ruled by Pope, the state has the fund from various sources. Read on to find out the major revenue sources of Vatican.
1. Contribution is the main source of Income: People may unknown about the financial sources of the Holy See. According to Economy Watch, the Vatican City is running with the contributions from Roman Catholics and the Christians from all over the world. These donations are received by the Peter's pence, a special Vatican City department intended to collect and distribute the fund. The main purpose of the fund is to provide support to the people who are suffering with war, oppression, natural disaster and disease etc. Peter's pence collection is monitored by the United States Conference of Catholic Bishops' (USCCB) National Collections Committee.
2. Vatican Museums are providing strong financial support to the Holy See: The museums are located within the city boundaries. They are the immense collections of classical sculptures built by the Roman Catholic Church during the centuries. Michelangelo's Sistine Chapel and Raphael's Stanze della Segnatura are the popular visiting galleries in Vatican. 5.5 million people visited these museums in 2013 to view the wonderful paintings of the world famous sculptor and painter Michelangelo and Raphael. The museum also considered as the 5th most visited art museum in the world. Vatican museums are the key attractions of the tourists around the world. The important tourist destinations are Basilica of St. Peter's, Sistine Chapel, Vatican museums, and Vatican libraries. Vatican charges admission fee for the visitors to view the museums, it plays a key role in the Vatican economy. It enables to accommodate more than 20,000 visitors on a daily basis.
3. Postage stamp sales act as a source of income to the Vatican: Recently, they issued new stamps of Pope Francis for all enthusiasts around the world. The tourist also purchases coins, souvenirs, postage stamps, church publications, and coins.
The expenses of the Vatican City connects with the maintenance of buildings, infrastructure, the required arrangements for the foreign trip of Pope and his emissaries, publication expenditure for L'Osservatore Romano, the newspaper of the Vatican city.