When thinking of international investment destinations, it is usual to look towards emerging markets, major economic powers, or traditional financial centers.
However, very few times is the Vatican considered as a possible place to direct investments. Nevertheless, its financial structure, its global network of relationships, and its asset management raise interesting questions about whether it could be considered, in some sense, an attractive space for certain types of investment.
The Vatican does not function as an open capital market nor as a conventional financial center. However, it does operate with structures typical of a modern economy, albeit with unique particularities. Its main focus is not on profitability, but on sustainability and support for the religious, educational, and social missions of the Catholic Church worldwide. Thanks to these reforms, the Institute for the Works of Religion (IOR), known as the Vatican Bank, has achieved positive results. In its most recent annual report, sustainable net profits and a level of solvency that positions it among the highest in the international banking system are detailed.