Italy is the sixth country in the OECD area and the fourth in the European area by value of Gross Domestic Product. Italian production makes up more than 13% of the European Union’s GDP.
In terms of production structure, the Italian composition by sectors of economic activity is similar to that of the main European countries, with about one-third of production in the manufacturing and construction sectors and much of the remaining in the services sector. Transport and communications absorb a higher share of GDP than the average for European countries.
Located in the heart of the Mediterranean, Italy is a crucial hub for road, sea and air links between northern and southern Europe. Because of its strategic location, Italy allows to reach the 396 million consumers in the other European Union states and the 240 million in North Africa and the Middle East. Italy ranks first as the country with the lowest cost of establishment for the biotechnology sector, second for product testing in research and development, chemicals and electronics. Over the years, structural reforms have been introduced that have enabled Italy to harmonize its regulatory, fiscal and facilitation framework with European standards. In particular, important reforms have been implemented in the labor, credit, energy and public administration markets in order to make “Sistema Italia” more attractive to economic operators and more competitive in international comparison.
InvestinItaly.gov.it is the new English-language portal that presents the main investment opportunities in Italy in 13 strategic sectors, providing information on incentives and fulfillment for the acquisition of more than 250 industrial sites immediately available to investors.
Investor Visa for Italy is a two-year visa for non-EU citizens investing in strategic assets in Italy, extendable for another three years while maintaining the investment. Minimum investment requirements:
- 2 million euros in government bonds with a minimum maturity of two years
- 500 thousand euros in a corporation
- 250 thousand euros in an innovative start-up company
- 1 million euros in philanthropic donations for public interest projects
This visa is an ideal opportunity to settle in Italy on a tax-advantaged basis, paying a fixed amount of tax regardless of income. The program has already benefited more than 150 investors, attracting about €120 million, mainly in Italian corporations and innovative startups.
Italia Startup Visa is a program that was launched by the Ministry of Economic Development and is addressed at all entrepreneurs from non-EU countries who intend to obtain an entry visa to proceed with the establishment of an innovative startup in the territory.
Macroeconomic framework.
The most recent data on the performance of the Italian economy can be found from the sources listed below.
Bank of Italy
On the Bank of Italy website there is a link to the publications section through which one can access economic and statistical and monetary policy services on Italy. Of particular interest for the purposes of accurate and up-to-date analysis on the national economic picture is the Economic Bulletin in this section.
ISTAT
The National Institute of Statistics provides up-to-date data on all the country’s economic indicators.
Eurostat
The European Statistical Institute provides the most recent data on the major economic indicators of EU countries.
Reference Institutions
ICE- Agency for the Promotion Abroad and Internationalization of Italian Companies is the Italian agency that facilitates access to the global market for Italian companies, especially SMEs. With a global network of 79 Operating Units, it provides assistance, advice and trade promotion, customized for each company and for “Sistema Italia”. Its activities aim to facilitate international business by providing information on business opportunities, investments and international competitions, thus contributing to the country’s economic development.
Union of Chambers of Commerce, Industry, Handicrafts and Agriculture is the point of reference for productive sectors at local, national and international levels. It promotes and manages services for Chambers of Commerce and economic categories, develops collaboration with the CCIE network and facilitates access to EU programs and international agreements, promoting Italy in the world with advanced technologies.
Assocamerestero is the association of Italian Chambers of Commerce in the world, created to enhance and develop the activities of the Chambers, increasing their visibility with Italian and international institutions and business organizations. The Association promotes Italian Chambers of Commerce abroad, facilitating strategic collaborations, communications and assistance for new Chambers and international networking.
Confindustria (Organization representing manufacturing service enterprises in Italy): founded in 1910, represents manufacturing and service enterprises in Italy, with more than 147.000 companies and about 5.416.777 employees. Its main objective is to contribute, together with various institutions and organizations, to the economic growth and social progress of the country.
Cassa Depositi e Prestiti, controlled by the Ministry of Economy and Finance, uses national savings for economic growth. It collaborates with international financial institutions to promote infrastructure investment. It fosters relationships with foreign investors to support the expansion of Italian companies across borders.
SACE – Foreign Trade Insurance Services: an export insurance company supported by the Ministry of Economy, covers political, economic and commercial risks for Italian operators abroad. It promotes exports of Italian SMEs by facilitating access to insurance guarantees.
SIMEST – Financial Institution for the Development and Promotion of Italian Enterprises Abroad: a company controlled by the Italian government, promotes and supports the activities of Italian companies abroad, especially SMEs, through trade and investment support. It provides assistance, advice and financial support, manages venture capital funds, provides interest subsidies, finances feasibility studies and other initiatives to facilitate the international expansion of Italian enterprises.
Some representative organizations
CONFAPI – Italian Confederation of Small and Medium Industries.
Confapi has grown alongside Italian small business and is now a well-established organization representing more than 50 thousand companies with about one million employees. Confapi’s institutional aims are to defend the interests and enhance the value of small and medium-sized Italian industry. Initiatives and programs are carried out with the aim of promoting the economic and civil development of the country, in connection with national and European organizations and institutions. The Confederation plays its role of representation and proposal in favor of small and medium-sized industry, supporting a national economic policy, which facilitates entrepreneurial growth. The website can be consulted at the following address: CONFAPI
FORMEZ
Training and Study Center
Formez PA | Center for services, assistance, studies and training for the modernization of P.A.
INFORMEST
Center for Services and Documentation for International Economic Cooperation
Web sites of the Regions of Italy
Abruzzo
Basilicata
Calabria
Campania
Emilia Romagna
Friuli Venezia Giulia
Lazio
Liguria
Lombardia
Marche
Molise
Piemonte
Puglia
Sardegna
Sicilia
Toscana
Trentino Alto Adige
Umbria
Valle d’Aosta
Veneto