a high cost of the war which, together with the contemporary war in Spain and the corruption of the regime, prevented a wider modernization of the Italian armed forces in view of the Second World War; part of the expenses was also for the passage of troops from Suez, going to directly finance the future English enemy
international isolation for aggression against a nation that is part of the League of Nations on a par with the rest of the world and for the use of weapons prohibited by international conventions such as toxic gases
economic sanctions that worsened the living conditions of the population, who had to fall back on poor substitutes for tobacco and coffee such as chicory, and also slowed down the modernization of the armed forces
a cost of military occupation and attempted integration into the Italian economy of Ethiopia disproportionate to what could be obtained from it. The Minister of the Colonies clearly told Mussolini that "Your Excellency, the colonies are eating the motherland". Mussolini's response was to fire the minister
leaving troops and supplies isolated after the declaration of war on England by the Suez blockade, effectively unable to do anything but resist as long as possible
Benefits:
the consent of the Italians towards the regime was at its maximum after the victorious war and the touted "return of the empire to Rome"
thanks to German supplies of coal and other materials to replace those under democratic sanctions, it was easier for the regime to make the population accept the alliance with Germany, which had been the sworn enemy of the Nation until the previous war