Current Position: Earth Sector, U.S.A. Outpost, Breakroom Module 3
Mission Status: Doing some research
Today we look at some major countries that have large amounts of philatelic income and Vatican finances using Microsoft Copilot as the information source.
To inquire about countries having large amounts of philatelic revenue we asked Microsoft Copilot the following question:Q. Which countries depend on philatelic stamp collecting for a large part of their economy?
A. Some small island nations and microstates—like Tuvalu, the Cook Islands, and San Marino—have historically relied on philatelic stamp sales as a meaningful source of revenue, though it's rarely a dominant part of their economy today. Vatican City was listed as a fourth country having notable philatelic revenue.
While philatelic revenue was once substantial for some countries, digital communication and declining stamp collecting trends have reduced its economic impact. Many nations now treat stamp programs as cultural or promotional tools rather than major revenue sources.
Q. Can you give a percentage of economic revenue derived from stamps for these four countries?
A. Exact percentages of GDP from stamp sales are rarely published, but here's the best available data and estimates for Tuvalu, Cook Islands, San Marino, and Vatican City. Tuvalu once earned up to 15% of its government revenue from stamps; for the others, philately is culturally significant but economically minor.
Tuvalu - Historically up to 15% of government revenue - Stamp sales were once a major foreign exchange earner, but have declined significantly in recent years.
Cook Islands - No current data; likely 5% of GDP - Stamp sales were important in the 1970s–1990s, but current GDP reports do not list philately as a major sector.
San Marino - Likely 1% of GDP - Stamp sales are mentioned as part of cultural exports, but the economy is dominated by industry and services.
Vatican City - Part of a broader category contributing to budget - Stamp and coin sales help fund the Vatican’s €770M budget, but exact percentages are not disclosed. They are grouped with museum fees and souvenirs.
Primary Revenue Streams of Vatican City
1. Donations from the Faithful
• Peter’s Pence: A global collection taken annually in Catholic parishes, raising around €50 million in 2024.
• Diocesan Contributions: Bishops worldwide pay annual fees based on their dioceses’ resources. U.S. bishops alone contributed over one-third of the €19.3 million collected annually from 2021–2023.
• Total Donation Share: Together, these donations cover roughly 25% of the Holy See’s budget.
2. Vatican Museums and Tourism
• Ticket Sales & Souvenirs: In 2024, the Vatican Museums welcomed 7 million visitors, generating nearly $100 million in revenue.
• Cultural Export: Tourism is Vatican City’s closest equivalent to an export industry.
3. Investment Income
• Managed by APSA (Administration of the Patrimony of the Apostolic See):
• Originated from the 1929 Lateran Treaties.
• Includes Italian government bonds, equities, and over 5,000 properties.
• Only 1 in 7 properties is rented at market rates, reflecting mission-driven priorities.
4. Vatican Bank (Institute for the Works of Religion)
• Clients: Dioceses, religious orders, and Vatican departments.
• 2024 Profit: €30.6 million on assets of €5.4 billion.
• Contribution to Charity: €13.6 million passed directly to the Pope’s charitable budget.
Vatican Budget Challenges
• 2022 Budget Projection: €770 million (≈ $878 million), mostly for embassies and media operations.
• 2024 Deficit: €83 million, despite museum revenue rebound.
• Pension Fund Shortfall: Estimated at €631 million.
• Real Estate Issues: Many properties underperform due to below-market rents and past investment scandals.
Christmas 1960 stamps
Holy Family by van Honthorst
— VPSrobotHoly Family by van Honthorst
To see the VPS slideshow on Vatican Christmas stamps clink on the following link:
https://vaticanstamps.org/stamplist/vsd30.php?topic=Christmas