Italy is the fourth largest economy in the European Union1 and is renowned for its gourmet cuisine, art history and culture.
Italy is a crucial crossroads for land, sea and air routes, linking the north and the south of Europe. Getting around in Italy is best done via its extensive rail network. Italy ranks second best in Europe when it comes to the kilometres of rail network2.
Italy is home to a number of notable industry clusters including fashion and clothing, cosmetics and machinery, many of which contain globally renowned brands. The relatively large Italian domestic market offers opportunities for businesses to expand in the strategic sectors: logistics, ICT, life sciences, renewable energies and tourism. In fact, Italy is the largest investor in Europe and second in the world in clean energy3.
The most problematic factors for doing business in Italy are4:
• Inefficient government bureaucracy
• Tax Rates
• Access to financing
1 IMF World Economic Outlook Database- Oct 2010
2 Eurostat 2010
3 World Economic Forum, Green Investing - 2011.
4 World Economic Forum, Global Competitiveness Report 2011-2012