The global downturn and the banking crisis together with slow productivity and a weak economy (its annual rate of growth is only 1.5% compared to an EU average of 2.2%) meant that Italy officially went into its worst recession in 30 years in the third quarter of 2008. But the signs are now pretty strong that she has come out the other side. According to Irwin Stelzer of the Hudson Institute “Economists at Goldman Sachs expect the Italian economy to grow 1.6% next year.”
The ‘Marco Polo’ Effect: Chinese FDI in Italy
There are twenty regions of Italy, five of which are autonomous. Each region is sub-divided into provinces and then further divided into municipalities (known as comuni).
The twenty regions are below, with their Italian name in brackets, followed by their provinces:
The ‘made in Italy’ brand is one of the most iconic in the world. From pasta to Prada, Ferrari to Fellini, Brunello to Benetton the country is outrageously over-endowed with world class talent in many diverse fields. Little wonder then that an investment in Italy is one made as much with heart as with head.
As the sixth largest world economy and with 60 million consumers, Italy has always offered numerous opportunities for international investment. Its location at the crossroads of the Mediterranean, its reputation for creativity and design, its high number of SMEs, its highly skilled workforce and high standard of living make it an attractive option for the overseas investor.
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