The Import and Export Culture of Italy

Italy is in Southern Europe, right next to the Mediterranean Sea. Italy is one of the most prosperous countries in the world. Its influence on other countries has spread well beyond its borders. Italy is bordered by the Adriatic Sea on the east coast and France, Switzerland, Austria and Slovenia in the North. Italy has a vast climate and depending where you go you can find just about anything. In the southern parts of Italy, it’s very hot and dry. On the other hand, in the north you will find a cold climate and a snowy winter. Italy is divided into 20 distinct regions. Every area has its own exceptional culture, customs, and food so you'll discover a great deal of contrasts between areas in the north and in the south. Tuscany, which is in central Italy, is one of the most notable cities in the country. The city is a popular tourist destination. Italy’s population is about 60.8 million and about 53.3 million tourism population. Italy’s population is increasing due to immigrants, tourists and families entering the country. Most people are moving to Italy’s capital, which is Rome. In Rome, there is an abundance of things to do. Presently, nearly 3 million people live there, while there is a steady flow of people moving in. Even though Italy is growing more and more every day, their employment rate is still very low, because most families own their own their business or work from home. So, Italy is now trying to make the younger generation work along with women to decrease their unemployment rate.

Italy is a very big country and has many large and popular cities. The three most popular cities in Italy are Rome, Milan, and Naples. Each one of these cities represent what they are famous for. Rome is known for a rich history span for the last 2500 years. Rome was founded in early BC. Milan is known for their fashion, they call it the fashion capital of the world. Most of Italy’s famous art work can be found in Milan, such as Da Vinci’s famous painting and the last supper. Milan is also known for their economic headquarters. Another city that is well known in Italy is Naples. Naples is a popular tourist spot, because of its beautiful views, food and is one of the safest places for tourists. Naples averages about 58.3 tourists a year, which is the 5th most visited internationally.

Since Italy has many people coming in and out of there county daily they are very up to date on their culture. They want to make sure they give a good impression to people that are coming in. The number one thing they are famous for is their food. Whether you are in Rome, Naples, Venice, or other cities, their food is one of their top priorities. You can find pasta, pizza, cheese, prosciutto, gelato among many other staples on menus in their restaurants. Italy is very family ordinated. This is obvious when you look at their cuisine. Their food is homemade in their restaurants. In their country, you will not find fast food restaurants, like you would in the United States. On the contrary, you will find family run businesses that produce quality food.

Italy is the world’s largest producer of wine, and is home to some of the oldest wine producing regions. Italy has a lengthy history for homemade wine. For over 4,000 years, Italy has been growing and climate ideally suited to viticulture, Italy is one of the most diverse winemaking countries in the world. When the Greeks arrives in southern Italy, wine had already been a part of their everyday life (worldwidewinetours). Finally, what their most famous for in their culture is their incredible artwork. Italy has offered various structural styles, including old style Roman, Renaissance, Baroque and Neoclassical. Paintings and sculptures are present in many movements throughout the country. Artistic wonders can be found anywhere and everywhere in Italy. They are present in the nations churches, castles, and historical residences. Italy is home to the Colosseum and the Leaning Tower of Pisa. Florence, Venice and Rome are home to numerous historical centers. Most prominent is the roof of the Sistine Chapel of the Vatican, painted by Michelangelo at some point somewhere in the range of 1508 and 1512. Italy has an interesting legacy of 2,000 years of Christianity, which has penetrated each aspect of Italian life. The Vatican City was set up in 1929 and is an independent sovereign express inside the city of Rome. Italy has many religions including Christianity, Islam, Buddhism, and Hinduism, but the main religion in Italy is Roman Catholicism. Roman Catholicism is accountable for about eighty percent of the countries religion, while Islam is second. Even though Islam is second, it doesn’t even come close to Roman Christianity. Although, eighty percent of Roman Catholics live in Italy, only 30 percent attend church regularly. Italy is a democratic republic established in the early 1900.

Italians are expected to dress formally in business. Dress and presentation plays an important role in the Italian culture. If you dress fashionable with designer clothing/accessories you are considered wealthy in the social status. What companies are looking for is more of a business casual look. Men are expected to wear a suit (dark colors) and women are expected to wear black slacks and a blazer or a skirt and formal shirt, with jewelry and makeup. Companies are not looking for a fashion show.

Business in Italy doesn’t come without difficulty. Like in many other countries, Italians must deal with bribery and corruption. When dealing with the judicial system, it can be a lengthy process. Also, their complex bureaucracy can lead to headaches. On the one hand, Italy boasts one of the largest economies worldwide and in Europe in terms of GDP (1.9 trillion) A lack of stability in political office has led to major economic problems. The surprise resignation of Prime Minister Guiseppe Conte caused major controversy within the government and who would succeed him. When Carlo Cottarelli was appointed, it caused an uproar with opposing parties which greatly affected the economy. This has contributed to Italy having one of the largest debts (approx. 2.3 trillion euros) in the world. Their economy is one of the world’s largest, but it ranks low in the Index of Economic Freedom. Despite Italy’s issues, doing business in Italy is very helpful. It is one of the most diversified economies in the world which means people from all over work in Italy or have a worldwide company that expands to Italy.

Italy shipped a massive 550 billion (approximately) dollars’ worth of products around the world in 2018. That number accounts for 3.1% of overall global exports that year. Most of their exports (about 2/3) go to other European nations. 16% goes to Asia and another 11% to North America. Other places they ship to include Africa, Latin America, and Australia. Some of Italy’s biggest trading partners are Germany with 68.7 billion dollars, France with 57.2 billion dollars, US with 50.1 billion dollars, Spain with a decreasing amount of 28.4 billion dollars, and theUK with 27.7 billion dollars.

Italy is the 7th largest export in the economy and is still increasing and 10th largest imports in the economy. Some of the top exports that Italy has is export markets are Germany, France and the US. Together these countries will account for 35% of total exports. Italy’s main exports are machinery that represents 18 percent of total exports, metals, and metal products worth 13%. Clothing and footwear, motor vehicles, including luxury vehicles, motorcycles and scooters. While Italy’s imports are Germany, China and France account for 33% of total imports of Italy. Top imports in Italy are minerals, nonferrous minerals, transport, and energy products. Above there is a graph that explains where Italy is in the economy and how they are increasing each year. It shows you how Italy is improving every year with their GPD, showing how it’s always active and its never stopping. That is huge for Italy because years ago they were not where they were to today, and they have made a drastic change on that market venue and prices around the country.

Italy is a very open economy and a welcoming place for investors, having taken significant steps towards gaining investors' trust and confidence. After a series of reforms implemented since 2011, Italy has now been ranked 8th globally and 4th in the EU. After an exceptionally unstable time of FDI streams somewhere in the range of 2008 and 2012, ventures to Italy have settled and kept up a continued pace. As indicated by the World Investment Report 2019 of UNCTAD, FDI streams remained at USD 24.3 billion out of 2018, up from USD 22 billion out of 2017. Current stock is at USD 431 billion, 22.2% of GDP. The fundamental contributing nations are Luxembourg, the Netherlands, Switzerland and Germany. The speculations are coordinated principally to the assembling part, proficient, logical and specialized exercises, discount and retail exchange and monetary and protection exercises. Among the reasons to invest in Italy there is the way that the nation has perhaps the greatest market in the EU, it has a gifted workforce and great foundations, it is one of the fundamental assembling nations on the planet and has a vital situation, at the junction between Europe, Northern Africa and the Middle East. In any case, high procedural and charge costs and moderate managerial procedures, an instable political circumstance, high work costs, defilement and sorted out wrongdoing are still among the components that ruin ventures to the nation (santandertrade). The spending demonstration 2019 of the M5S-Lega government incorporates a few arrangements to advance speculations towards the nation, among them the formation of 'InvestItalia', an office dependant on the Prime Minister which should facilitate Italy's advancement exercises to pull in remote direct ventures (santandertrade). Italy positions 51st on the 2019 Doing Business report of the World Bank, losing four positions contrasted with the earlier year. Since many people are starting to invest in Italy because of their trading the economy has expected them to grow in 2020, thanks to a stronger domestic demand and a rebound in industrial production. However, Italy will likely stay behind its EU peers, weighed down by lackluster investments and muted productivity growth. Although their economy is projected to grow, it is not expected to be a substantial jump (.4%). Until Italy makes progress with their high unemployment rates which is still very high for them, lack of structural reforms, and political instability you can expect Italy’s economy to struggle