Our Market

Below provides a profile of the Western Europe market overall and interesting facts and information about issues important to both Italian and foreign executives working in Italy.

From its Alpine peaks and sparkling lakes of the north, to the dramatic islands of the south — with fertile countryside and dynamic cities in between — Italy is one of the most beloved and popular countries in the world. According to UNESCO, more than half of the world's historic and artistic heritage lies in the hundreds of archaeological sites and over 3,000 museums found in Italy. But Italy's allure only starts with its past. Present-day Italy has much to offer for explorers and businesspeople alike.

Today, Italy's economy is ranked as the seventh-largest in the world. Italy was founding member of NATO and belongs to the Group of Eight (G-8) industrialized nations. It is part of the European Union and the Organization for Economic Cooperation and Development (OECD).

Italy has the third largest GDP in the European Union with a  well-established industrial economy. One of the Italian system’s peculiarities lies in an “industrial cluster” model, well-established in a clearly defined area and consisting of a dense fabric of small and medium sized enterprises, each specialized in a specific phase of production. Thanks to this model Italy is a nation in which entrepreneurial initiative is highly developed and where entrepreneurial autonomy has led to the development of creativity and concentration on the beauty and good taste of those finished products that have raised the “Made in Italy” to world fame.

Milan is thought of as the fashion capital of the world. The names Armani and Prada are just two of the world's most prestigious and influential labels to come out of Italy, and the world flocks to Fashion Week and the Salone del Mobile Exhibition in Milan to find out what trends they should follow. Beyond fashion, many other industries are based in Milan, including finance, insurance, communications, automotive and manufacturing. Other brands, from Ferrari automobiles to Barilla foods, have cemented Italy's place as the source for the finest brands in every category.

The capital city, Rome is the country's political and administrative center. Other significant industries found in Rome include banking, telecom, pharmaceutical. Italy's film industry is located at the famed Cinecittà, just outside Rome; trade fairs and large business conventions are held in EUR, a modern suburb just south of the city center.

Between history, art, gastronomy and fashion, it's no wonder that services make up well over half of the nation's GDP. Over a quarter of the GDP is in the industrial sector, more specifically in precision machinery, motor vehicles, chemicals, pharmaceuticals, electric goods, and fashion and textiles. Most industry is found in the north, dominated by private companies. The southern portion of the country is less developed and more focused on agriculture. Overall, the country's strength is built on the processing and the manufacturing of goods, primarily in small and medium-sized family-owned firms.

As the Italian economy continues to recover from recent political and economic turmoil, and prepares for Expo 2015 in Milan, more and more organizations will be looking to take advantages of opportunities in this critical market. Boyden Italy, an Italian-owned and managed organization, is ideally positioned to support both global companies looking to establish a stronghold in Italy, and local firms looking to expand their reach. While it has the resources and perspective of the global Boyden organization, Boyden Italy consultants are local market leaders who have the network and contacts to find the executives who can take their companies to the next level.