Italy needs no introduction. It’s unique, lively and complex. And it’s also a country positioned in the top-ten economies in the world. The Italian economy is in large part driven by the manufacture of high-quality consumer goods produced by small and medium-sized enterprises, driven by a relentless race to originality and creativity.
Italy won a large share of the global market as excellence dots the economic scenario. Leading sectors are precision machine tools, packaging, fashion, stylish furniture, luxury boats and other goods with a high design content. Italy also boasts excellent results especially in new materials, robotics, ICT, nanotechnologies, technologies for the food industry and for the preservation of the artistic heritage.
As you can easily see, Italy has a diversified industrial economy, which is divided into a developed industrial North, dominated by private companies, and a less developed, welfare-dependent, agricultural South, with high unemployment. Given the starting features, potentialities when setting up a business in Italy are in both.
Agriculture is well-developed and organised. The main products are grapes, potatoes, sugar beets, soybeans, grain, olives, beef, dairy products, fish. Italian industry has evolved in the manufacturing and processing of goods, like machinery, food products, vehicles, electric appliances, integrated defence and security equipment, packaging, textiles and clothing, ceramics, tourism, commerce, telecommunications and services.
Expanding a business to Italy always requires a certain grade of adaptation and difference-awareness. The Italian business etiquette is very different for the British standards. The language may also represent an obstacle, as English is not always spoken, even in business environments. When thinking about expanding a business in Italy, keep in mind the high level of regional segmentation.
It is therefore necessary to know well the territorial specificities in order to identify the most suitable area on which to invest or do business, exploiting key factors such as adequate infrastructure, low crime, an efficient judicial system, ad hoc incentives promoted for the development of the territories and a lively economic context.
Thanks to a deep knowledge of the market and the Italian language, the Canadian Chamber in Italy can guarantee you the best support to invest in Italy.