Probably not enough left.
No, I don't think this can be salvaged. There's not much to work with. Unfortunately, you can't recover details that don't exist.
Thanks, that's what I was thinking
As Nancy and others have said, there is too little information in the digital file to get any sort of result. Do you have the print the file was scanned from? It is possible — but probably unlikely — that a better result can be gained by using the highest resolution the scanner is capable of, carefully setting the exposure, always scan to full colour.
There might be tricks you can use to improve the scan, and if there are, I'm thinking RetouchPro would be the place to find them. They are the experts in this sort of work. Try my link above, and if you do manage to improve the scan, it would be cool if you came back and shared your experience.
Good luck. I restored my families prints and transparencies some years back, and is not something I'd want to do again.
From the file you have barely anything can be restored. Since this is a physical print however, there's a good chance a lot of info could be recovered with infrared and x-ray photography based on the traces left by the chemicals in the paper. Of course it's a specialist thing that costs a lot of money, so it depends how valuable the photograph would be to you ...
One thing you can try is using Multiply blending mode. Here, I duplicated the image layer twice, and set the copies to Multiply mode, and a Curves adjustment layer to help the color an shadow contrast.
It's pretty damaged, so there's not that much you can do, really.