Luigi Brugnaro, the city's mayor, estimated damages from the flooding would reach at least 1 billion euros ($1.1 billion). He said a final tally of the damage to homes, businesses, stores and the city's rich cultural heritage would be done once the city dries out, according to Italian media.

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"Venice is once again being watched by the world and it needs to show that it can succeed and pick itself back up," the mayor said in an interview with the Gazzettino and Messaggero newspapers.

Brugnaro said Venice was setting up programs to help cover damages sustained by individuals and businesses. He said businesses and individuals suffering even more serious losses could possibly qualify for aid covering up to 70% of damages.

Among those recovering from Tuesday's devastating high waters was Sabrina Laggia and her husband. She was blowing dry stone jewelry made by her husband, Alfredo, in their workshop near St Mark's Square. She was dreading forecasts for more high water on Sunday.

"We have been here 30 years and we have never seen anything like this," she said. "Lots of acqua alta, but never this high." "Acqua alta" is the term Venetians use to describe flooding from wind-driven high tides.

AP