Marketing in Italy: The 8th Market in the World
Italy has become known around the globe for many different reasons. It is considered to be beautiful and historical based on cities such as Rome, Venice, and Florence. Some perceive it as a country famous for its artists and writers such as Leonardo da Vinci, Michelangelo, and Dante. While others may associate it with a brand “Italy” based on their food and wine, (who doesn’t love spaghetti, lasagne or Chianti?) or their fashion (Prada, Armani, Dolce & Gabbana etc.).
Although these are all great reasons to remember Italy, it has become clear that only a small percentage of worldwide managers identify Italy as one of the largest markets in the world. Italian GDP (a country with over 60 million inhabitants), despite the recent crisis, is one of the highest in the world.
Take a look at the chart below to compare Italy’s figures to those of other nations (click to enlarge)
Marketing in Italy
Italy has a diversified industrial economy with high Gross Domestic Products (GDP) per capita and advanced infrastructure. According to the International Monetary Fund, the World Bank and The World Factbook, in 2011 Italy was the eighth-largest economy in the world, fourth-largest in Europe, third-largest in the Eurozone based on nominal GDP, the tenth-largest economy in the world and fifth-largest in Europe in terms of Purchasing Power Parity (PPP).
It is a founding member of the G8, the Eurozone and the OECD.
Even with these charts available, few managers recognize that the Northern Area of Italy (a “macro-region”) is composed of Lombardia, Piemonte, Veneto and Emilia Romagna. All of these areas hold a population of 25 million, which accounts for 40% of the Italian population, and are one of the richest areas in both Europe and the world holding 75% of Italian GDP.
If your company sells medium to high level products and services, and are thinking of expanding into the Italian Market, you are looking in the right place! At DAG Communication, we are able to create opportunities for your company to capture an extensive audience and obtain your goals within the market.
