Cate Blanchett was the picture of understated glamour this week as she continued to enjoy her stay in Italy amid the Venice Film Festival.

The Elizabeth star, 56, was spotted arriving at her swanky Venetian digs at the five-star Hotel Excelsior via boat on Friday.

Stepping off the ritzy water taxi, Cate beamed and waved to passers-by as she made her way into the hotel. 

She wore a crisp white Louis Vuitton top that was tucked into a patterned black midi skirt.

She left one side of her top untucked, allowing a train to flow gracefully down her leg to the knee. 

The actress tied the look together with a pair of Freda Salvador black leather loafers, embossed with a crocodile skin pattern.

Cate accessorised her look with a pair of black cat's eye-style sunglasses, and a black Louis Vuitton handbag to match.

The luxe calfskin accessory comes with the equally high-end price tag of $7,250. 

She left her flaxen locks loose for the trip, playfully tucking her hair back behind her left ear.   

Cate was happy to be helped off her aquatic transport by two assistants, stopping for a chat as she disembarked. 

The Aussie actress attended the opening night of the Venice Film Festival on Wednesday, recycling one of her best looks.

She wore a jaw-dropping plunging black gown that had all eyes on her.

The figure-hugging dress boasted a very risqué neckline embellished with large stones to draw attention to her décolletage and tiny waist.

And it marked the second time that Cate stole the show on the red carpet in the daring Armani number, after first wearing the gown to the 2022 SAG Awards.

It comes after the Oscar winner recently revealed plans to eventually retire from acting.

During an interview with Radio Times in April, Cate hesitated to define her job title before revealing she hopes to step away from the camera.

'It's because I'm giving up [acting]. My family roll their eyes every time I say it, but I mean it. I am serious about giving up acting,' she said.

Cate insisted she had 'a lot of things I want to do with my life'.

It's not the first time that Cate has teased an eventual departure from acting, telling Vanity Fair in 2023 that she often contemplated the idea. 

 She said: 'It's not occasional—it's continual. On a daily or weekly basis, for sure.

'It's a love affair, isn't it? So you do fall in and out of love with it, and you have to be seduced back into it.'