A view of the Colosseum after the latest stage of restoration by luxury goods firm Tod's in Rome, Italy, July 1, 2016. [Photo/Agencies]

Over the past three years, restorers have delicately cleaned more than 10,000 square meters of the stone facade with natural-fibre brushes, applying 1,700 kilograms of lime putty and filler into cracks in the surface, while the monument remained opened to throngs of tourists.

In a bid to support its artistic heritage, Italy introduced tax credits on donations to the arts in 2014. The government has also raised the culture ministry's budget after years of cuts.

Restoration work will now focus on the inside of the Colosseum, repairing its passageways and underground vaults and building a visitors' center.

Culture Minister Dario Franceschini said 18 million euros of public money has already been set aside to extend the central floor of the Colosseum in order to make it more suitable as a venue for cultural events.

($1 = 0.8986 euros)