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Tourism in Italy
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Tourism in Italy is one of the largest economic sectors of the country. With 65 million tourists
per year (2019) according to ISTAT, Italy is the fifth most visited country in international tourism
arrivals. According to 2018 estimates by the Bank of Italy, the tourism sector directly generates
more than five per cent of the national GDP (13 per cent when also considering the indirectly
generated GDP) and represents over six per cent of the employed.[7][8][better source needed]
The Colosseum in Rome, one of the most popular tourist attractions in the world The city of
Venice, ranked many times as the most beautiful city in the world[1][2] The Santa Maria del Fiore
cathedral in Florence by Filippo Brunelleschi, which has the largest brick dome in the world,[3][4]
and is considered a masterpiece of world architecture The Sassi di Matera have been described
by Fodor's as "one of the most unique landscapes in Europe"[5] Milan Cathedral is a busy tourist
spot in Milan. It is the world's 3rd biggest cathedral and took over five centuries to complete.[6]
The Amalfi Coast seen from Villa Cimbrone, in Ravello, Campania, one of the most popular
tourist destinations in Italy
People have visited Italy for centuries, yet the first to visit the peninsula for tourist reasons were
aristocrats during the Grand Tour, beginning in the 17th century, and flourishing in the 18th and
19th centuries.[9] This was a period in which European aristocrats, many of whom were British
and French, visited parts of Europe, with Italy as a key destination.[9] For Italy, this was in order
to study ancient architecture, local culture and to admire the natural beauties.[10]
Nowadays the factors of tourist interest in Italy are mainly culture, cuisine, history, fashion,
architecture, art, religious sites and routes, naturalistic beauties, nightlife, underwater sites and
spas. Winter and summer tourism are present in many locations in the Alps and the
Apennines,[11] while seaside tourism is widespread in coastal locations along the Mediterranean
Sea.[12] Small, historical and artistic Italian villages are promoted through the association I
Borghi più belli d'Italia (literally "The Most Beautiful Villages of Italy"). Italy is among the
countries most visited in the world by tourists during the Christmas holidays.[13] Rome is the 3rd
most visited city in Europe and the 12th in the world, with 9.4 million arrivals in 2017[14][better source
needed]
while Milan is the 5th most visited city in Europe and the 16th in the world,[15][16] with 8.81
million tourists.[17][better source needed] In addition, Venice and Florence are also among the world's top
100 destinations. Italy is also the country with the highest number of UNESCO World Heritage
Sites in the world (58).[18] Out of Italy's 58 heritage sites, 53 are cultural and 5 are natural.[19]
The Roman Empire, Middle Ages, Renaissance and the following centuries of the history of Italy
have left many cultural artefacts that attract tourists.[20] In general, the Italian cultural heritage is
the largest in the world since it consists of 60 to 75 percent of all the artistic assets that exist on
each continent,[21] with over 4,000 museums, 6,000 archaeological sites, 85,000 historic
churches and 40,000 historic palaces, all subject to protection by the Italian Ministry of
Culture.[22] As of 2018, the Italian places of culture (which include museums, attractions, parks,
archives and libraries) amounted to 6,610. Italy is the leading cruise tourism destination in the
Mediterranean Sea.[23]
In Italy, there is a broad variety of hotels, going from 1-5 stars. According to ISTAT, in 2017,
there were 32,988 hotels with 1,133,452 rooms and 2,239,446 beds.[24] As for non-hotel facilities
(campsites, tourist villages, accommodations for rent, agritourism, etc.), in 2017 their number
was 171,915 with 2,798,352 beds.[24] The tourist flow to coastal resorts is 53 percent; the best
equipped cities are Grosseto for farmhouses (217), Vieste for campsites and tourist villages (84)
and Cortina d'Ampezzo mountain huts (20).[25][26]

Contents

● 1 History
○ 1.1 Beginnings
○ 1.2 Grand Tour
○ 1.3 Mass tourism
● 2 Land and climate
○ 2.1 Geography
○ 2.2 Climate
● 3 Transport
● 4 Tourist flows
● 5 Statistics
○ 5.1 Arrivals by country
○ 5.2 Nights spent by country
○ 5.3 Italian regions by number of visitors
○ 5.4 Italian provinces/metropolitan cities by number of visitors
○ 5.5 Italian cities by number of visitors
○ 5.6 Italian archaeological sites and museums by number of visitors
History edit
Islands such as Capri became popular in the late 14th century and
first decade of the 19th century The Forum of Pompeii with Vesuvius
in the distance. Pompeii is Italy's third and the world's 48th most
visited destination, with over 2.5 million tourists a year. Cinque Terre
on the Italian Riviera, one of the most popular tourist destinations in
Italy
Beginnings edit
People have visited Italy for centuries, yet the first to visit the peninsula for touristic reasons
were aristocrats during the Grand Tour, beginning in the 17th century, and flourishing in the 18th
and the 19th century.[9]
Rome, as the capital of the powerful and influential Roman Empire, attracted thousands to the
city and country from all over the empire, which included most of the Mediterranean, Northern
Africa, mainland Great Britain (England) and parts of Western Asia. Traders and merchants
came to Italy from several different parts of the world. When the empire fell in 476 AD, Rome
was no longer the epicentre of European politics and culture; on the other hand, it was the base
of the papacy, which then governed the growing Christian religion, meaning that Rome
remained one of Europe's major places of pilgrimage. Pilgrims, for centuries and still today,
would come to the city, and that would have been the early equivalent of "tourism" or "religious
tourism". The trade empires of Venice, Pisa and Genoa meant that several traders,
businessmen and merchants from all over the world would also regularly come to Italy. In the
16th and early 17th centuries, with the height of the Renaissance, several students came to Italy
to study Italian architecture, such as Inigo Jones.

Grand Tour edit

Main article: Grand Tour
Real "tourism" only affected Italy in the second half of the 17th century, with the beginning of the
Grand Tour. This was a period in which European aristocrats, many of whom were British,
visited parts of Europe, with Italy as a key destination.[9] For Italy, this was in order to study
ancient architecture, local culture and to admire the natural beauties.[10] The Grand Tour was in
essence triggered by the book Voyage to Italy, by Roman Catholic priest Richard Lassels, and
published in 1670.[27][28] Due to the Grand Tour, tourism became even more prevalent – making
Italy one of the most desired destinations for millions of people.[29] Once inside what would be
modern-day Italy, these tourists would begin by visiting Turin for a short while. On the way there,
Milan was also a popular stop, yet a trip to the city was not considered essential, and several
passed by or simply stayed for a short period of time. If a person came via boat, then they would
remain for a few days in Genoa. Yet, the main destination in Northern Italy was Venice, which
was considered a vital stop,[27] as well as cities around it such as Verona, Vicenza and Padua.
As the Tour went on, Tuscan cities were also very important itinerary stops. Florence was a
major attraction, and other Tuscan towns, such as Siena, Pisa, Lucca and San Gimignano, were
also considered important destinations. The most prominent stop in Central Italy, however, was
Rome, a major centre for the arts and culture, as well as an essential city for a Grand Tourist.[27]
Main article: Geography of Italy
Italy is located in southern Europe and it is also considered a part of western Europe,[33]
between latitudes 35° and 47° N, and longitudes 6° and 19° E. To the north, Italy borders
Switzerland, France, Austria and Slovenia and is roughly delimited by the Alpine watershed,
enclosing the Po Valley and the Venetian Plain. To the south, it consists of the entirety of the
Italian Peninsula crossed by the Apennines and the two Mediterranean islands of Sicily and
Sardinia, in addition to many smaller islands. The sovereign states of San Marino and the
Vatican City are enclaves within Italy,[34][35] while Campione d'Italia is an Italian exclave in
Switzerland.[36]
Italy is part of the Northern Hemisphere. The country's total area is 301,230 square kilometres
(116,306 sq mi), of which 294,020 km2 (113,522 sq mi) is land and 7,210 km2 (2,784 sq mi) is
water.[37] Including islands, Italy has a coastline of 7,900 km (4,900 mi) on the Adriatic Sea,
Ionian Sea, Tyrrhenian Sea, Ligurian Sea, Sea of Sardinia and Strait of Sicily, and borders
shared with France (488 km (303 mi)), Austria (430 km (267 mi)), Slovenia (232 km (144 mi))
and Switzerland (740 km (460 mi)). San Marino (39 km (24 mi)) and Vatican City (3.2 km (2.0
mi)), both enclaves, account for the remainder.[37]

Climate edit

Map of the climate of Italy

Main article: Climate of Italy
The climate of Italy is influenced by the large body of water of the Mediterranean Sea that
surrounds Italy on every side except the north. These seas constitute a reservoir of heat and
humidity for Italy. Within the southern temperate zone, they determine a particular climate called
Mediterranean climate with local differences due to the geomorphology of the territory, which
tends to make its mitigating effects felt, especially in high pressure conditions.
Because of the length of the peninsula and the mostly mountainous hinterland, the climate of
Italy is highly diverse. The inland northern areas of Italy (for example Turin, Milan, and Bologna)
have a relatively cool, mid-latitude version of the Humid subtropical climate (Köppen climate
classification Cfa), while the coastal areas of Liguria and the peninsula south of Florence
generally fit the Mediterranean climate profile (Köppen climate classification Csa).[38]
Conditions on the coast are different from those in the interior, particularly during winter months
when the higher altitudes tend to be cold, wet, and often snowy. The coastal regions have mild
winters and warm and generally dry summers, although lowland valleys can be quite hot in
summer. Between the north and south there can be a considerable difference in temperature,
above all during the winter: on some winter days it can be −2 °C (28 °F) and snowing in Milan,
while it is 8 °C (46.4 °F) in Rome and 20 °C (68 °F) in Palermo. Temperature differences are
less extreme in the summer.

Transport edit
Main article: Transport in Italy
Autostrada A1 runs through Italy linking some of the largest cities of the country: Milan,
Bologna, Florence, Rome and Naples Milano Centrale railway station in Milan is the largest
railway station in Europe by volume.[39] Leonardo Da Vinci International Airport in Rome
Transport infrastructure in Italy is well developed. Italy's paved road network is widespread, with
a total length of about 487,700 km (303,000 mi).[40] It comprises both an extensive motorway
network (7,016 km (4,360 mi)), called autostrade, mostly toll roads, and national and local
roads. The Strade Statali is the Italian national network of state highways. The total length for
this network is about 25,000 km (16,000 mi).[41] The Strade Regionali ("regional roads") are
maintained by the regions they traverse. A regional road is less important than a state highway,
but more important than a Strada Provinciale ("provincial road"). A provincial road is more
important than a Strada Comunale ("municipal road").
The national railway network is also extensive, especially in the north, totalizing 16,862 km of
which 69% are electrified and on which 4,937 locomotives and railcars circulate. It is the 12th
largest in the world, and is operated by state-owned Ferrovie dello Stato, while the rail tracks
and infrastructure are managed by Rete Ferroviaria Italiana. While a number of private railroads
exist and provide mostly commuter-type services, the national railway also provides
sophisticated high-speed rail service that joins the major cities.
Italy is the fifth in Europe by number of passengers by air transport, with about 148 million
passengers or about 10% of the European total in 2011.[42] There are approximately 130 airports
in Italy, of which 99 have paved runways (including the two hubs of Leonardo Da Vinci
International in Rome and Malpensa International in Milan).
In 2004 there were 43 major seaports including the Port of Genoa, the country's largest and the
third busiest by cargo tonnage in the Mediterranean Sea. Due to the increasing importance of
the maritime Silk Road with its connections to Asia and East Africa, the Italian ports for Central
and Eastern Europe have become important in recent years. In particular, the deep water port of
Trieste in the northernmost part of the Mediterranean Sea is the target of Italian, Asian and
European investments.[43][44] The national inland waterway network comprises 1,477 km (918 mi)
of navigable rivers and channels. In the northern regions of Lombardy and Veneto, commuter
ferry boats operate on Lake Garda and Lake Como to connect towns and villages at both sides
of the lakes.
Seven Italian cities have metro systems:
City Name Lines Length (km) Stations Opening
Brescia Brescia Metro 1 13.7 17 2013
Catania Catania Metro 1 8.8 10 1999
Genoa Genoa Metro 1 7.1 8 1990
Milan Milan Metro 5 102.5 119 1964
Naples Naples Metro 2 20.3 23 1993
Rome Rome Metro 3 60 75 1955
Turin Turin Metro 1 15.1 23 2006
Tourist flows edit
Further information: Public holidays in Italy
New Year's Day fireworks display in Rome on 1 January 2012
The peaks of tourist flows in Italy are recorded in winter, due to the Christmas and New Year's
Day holidays,[45] in spring, due to the Easter holidays,[46] and in summer, due to the favourable
climate.[47]
For internal tourism, peaks of tourist flows are also recorded on the occasion of the three
national civil holidays, the Festa della liberazione (25 April), the Festa dei lavoratori (1 May) and
the Festa della Repubblica (2 June),[48][49] as well as for three religious holidays, the Ferragosto
(15 August),[50] the Ognissanti (1 November)[51] and the Festa dell'Immacolata Concezione (8
December).[52]
Ra Country Nights
nk spent
83
13 Czech Republic 4.127.5
67
14 Denmark 3.058.5
30
15 Australia 2.881.0
36
16 Brazil 2.824.6
86
17 Romania 2.765.2
52
18 Canada 2.665.2
09
19 Japan 2.544.3
62
20 Sweden 2.372.8
91
21 Hungary 2.210.4
68
22 Ireland 1.815.2
23
23 Norway 1.247.3
98
24 Greece 903.86
8
Extra-European countries 17.437.
507
Other European countries 5.311.2
76
Total 220.66
2.684
Italy overall had 420.63 million visitor nights in 2017, of which 210.66 million were of foreign
guests (50.08 per cent). With 37.04 million nights spent in hotels, hostels or clinics, the
Metropolitan City of Venice has the most visitors.[54]

Italian regions by number of visitors edit

According to regional data, in 2018 tourism presences in Italy amounted to 436 million (216
million residents and 220 million non-residents).[55]
With 71 million nights spent in tourist accommodation establishments, Veneto has the highest
number of visitors and ranks sixth in Europe.[56][57]
Below is a table with the most visited regions in Italy (data as of 2019)[better source needed]
# Region Total nights Resident Non resident
1 Veneto 71.236.630 23.068.000 48.168.630
Below is a table with the most visited province/metropolitan cities in Italy (data as of 2017)
Rank Province/Metropoli # of nights of whom Region
tan City in 2017[54] foreign visitors[54]
1 Venice 37,042,454 27,477,075 Veneto
2 Bolzano/Bozen 32,400,662 22,125,350 Trentino-Alto
Adige/Südtirol
3 Rome 29,833,225 7,046,098 Lazio
4 Trento 17,776,030 7,412,103 Trentino-Alto
Adige/Südtirol
5 Verona 17,293,792 13,388,082 Veneto
6 Rimini 15,967,490 3,808,354 Emilia-Romagna
7 Milan 15,468,199 9,291,198 Lombardy
8 Florence 14,716,466 10,780,968 Tuscany
9 Naples 13,161,395 7,247,964 Campania
10 Brescia 10,463,688 7,472,887 Lombardy
11 Livorno 8,663,572 3,491,172 Tuscany
12 Sassari 7,492,538 4,162,225 Sardinia
13 Turin 7,046,219 1,842,052 Piedmont
14 Ravenna 6,698,702 1,381,666 Emilia-Romagna
15 Salerno 6,029,649 2,098,781 Campania
16 Savona 5,717,487 1,471,811 Liguria
17 Grosseto 5,714,546 1,601,673 Tuscany
18 Padua 5,479,110 2,426,489 Veneto
19 Udine 5,371,339 3,027,318 Friuli-Venezia
Giulia
20 Forlì-Cesena 5,357,398 1,027,558 Emilia-Romagna
21 Lecce 5,048,739 949,521 Apulia
22 Siena 4,928,092 2,880,531 Tuscany
23 Perugia 4,689,356 1,699,019 Umbria
24 Bologna 4,607,456 2,101,001 Emilia-Romagna
25 Foggia 4,503,604 697,073 Apulia
26 Genoa 4,082,817 1,945,743 Liguria
27 Belluno 3,806,806 1,208,331 Veneto
28 Aosta/Aoste 3,599,402 1,434,422 Aosta Valley
29 Lucca 3,546,044 1,696,020 Tuscany
30 Messina 3,493,859 2,153,932 Sicily
31 Teramo 3,419,387 523,718 Abruzzo
32 Pesaro and Urbino 3,295,759 729,067 Marche
33 Cosenza 3,290,418 369,693 Calabria
34 Imperia 3,202,619 1,324,925 Liguria
35 Verbania 3,095,668 2,443,754 Piedmont
36 Como 3,088,807 2,375,038 Lombardy
37 Pisa 3,032,756 1,632,412 Tuscany
38 Ferrara 3,020,136 1,142,220 Emilia-Romagna
39 Palermo 2,981,947 1,703,615 Sicily
# Comune Region Province / Nights
Metropolitan city
32 Palermo Sicily Palermo 1,594,187
33 Riva del Garda Trentino-Alto Trento 1,590,189
Adige/Südtirol
34 Castelrotto Trentino-Alto Bolzano 1,584,220
Adige/Südtirol
35 Castiglione della Tuscany Grosseto 1,506,463
Pescaia
36 Grado Friuli-Venezia Gorizia 1,398,262
Giulia
37 Chioggia Veneto Venice 1,376,237
38 Livigno Lombardy Sondrio 1,337,223
39 Forio Campania Naples 1,295,862
40 Selva di Val Trentino-Alto Bolzano 1,294,036
Gardena Adige/Südtirol
41 Ischia Campania Naples 1,236,669
42 Sirmione Lombardy Brescia 1,209,423
43 Arzachena Sardinia Sassari 1,209,220
44 San Vincenzo Tuscany Livorno 1,198,640
45 Fiumicino Lazio Rome 1,180,562
46 Badia Trentino-Alto Bolzano 1,178,014
Adige/Südtirol
47 Limone sul Garda Lombardy Brescia 1,167,770
48 Orbetello Tuscany Grosseto 1,165,731
49 Merano Trentino-Alto Bolzano 1,148,867
Adige/Südtirol
50 Assisi Umbria Perugia 1,146,596
Italian archaeological sites and museums by number of visitors edit
Below is a table with the most visited archaeological sites and museums in Italy (data as of
2019)[59][60][better source needed]
# Site City Visitors Region
1 Archaeological Rome 7,617,649 Lazio
Park of the
Colosseum, the
Roman Forum and
the Palatine Hill
2 Vatican Museums Rome 6,756,000 Vatican City
3 Uffizi Florence 4,391,861 Tuscany
4 Archaeological Pompei 3,933,079 Campania
Park of Pompeii
5 Galleria Florence 1,704,776 Tuscany
dell'Accademia
6 Castel Sant'Angelo Rome 1,207,091 Lazio
7 Museo Egizio Turin 853,320 Piedmont
Europe (e.g. Italians in Germany, Italians in France and Italians in the United Kingdom), the
Americas (such as Italian Americans, Italian Canadians, Italian Colombians and Italians in
Paraguay, among others), Australasia (Italian Australians and Italian New Zealanders), and to a
lesser extent in the Middle East.
This phenomenon has led to an important flow of tourists of Italian origin who visit the country
and discover their roots.[304] The trip to Italy of these tourists is mainly about knowing the places,
the language, the cuisine and the people to which their ancestors belonged.[305] In 2018, about
10 million tourists of Italian origin went to the country to rediscover their roots.[304]

Student programmes tourism edit

Bologna University, established in AD 1088, is the world's oldest university in continuous

operation
Further information: Education in Italy and List of universities in Italy
A student exchange programme is a programme in which students from a secondary school
(high school) or university study abroad at one of their institution's partner institutions.[306] Italy is
one of the destinations of secondary school students and university students participating in
exchange programmes.[307][308] Students who go to study in Italy also take advantage of their stay
to visit the country.[309][310]
Italy is one of the main destinations of the Erasmus Programme, fifth in Europe after Spain,
Germany, France and the United Kingdom respectively.[311] The Erasmus Programme is a
European Union (EU) student exchange programme established in 1987.[312][313] Erasmus+, or
Erasmus Plus, is the new programme combining all the EU's current schemes for education,
training, youth and sport, which was started in January 2014.
The first five Italian universities that have hosted the largest number of students of the Erasmus
Programme are, respectively, the University of Bologna, the Sapienza University of Rome, the
University of Florence, the Polytechnic University of Milan and the University of Padua.[314] In
particular, the University of Bologna, founded in 1088, is the oldest university in continuous
operation in the world, and the first university in the sense of a higher-learning and
degree-awarding institute, as the word universitas was coined at its foundation.[315][316][317][318]
Also, University of Padua, founded in 1222, and University of Naples Federico II, founded in
1224, are the oldest universities in Europe.[319][320] 33 Italian universities were ranked among the
world's top 500 in 2019, the third-largest number in Europe after the United Kingdom and
Germany.[321]

Regions edit
Further information: Regions of Italy

Northwest Italy edit

Fénis Castle, 13th century (Aosta Valley)

Further information: Northwest Italy
Regions: Piedmont, Liguria, Lombardy and Aosta Valley
Home of the Italian Riviera, including Portofino, Sanremo, and of Cinque Terre. There are many
historic cities in this part of Italy: Turin, the manufacturing capital of Italy, Milan, the business and
fashion capital of the country and the important port of Genoa are the most popular tourist
destinations of the area.
Other cities like Aosta, Bergamo, Brescia, Como and Mantua have a rich cultural heritage,
which shares the region's visitors with beautiful landscapes such as the lakes Garda (with
Grottoes of Catullus and Gardone Riviera), Como (with Bellagio and Varenna) and Maggiore
(with Borromean Islands and Angera). There are also important ski resorts like Sestriere,
Courmayeur, Breuil-Cervinia, Livigno and Bormio.

Northeast Italy edit

Villa Capra "La Rotonda" in Vicenza. One of Palladio's most influential designs.
Further information: Northeast Italy
Regions: Emilia-Romagna, Friuli-Venezia Giulia, Trentino-Alto Adige/Südtirol and Veneto
This part of Italy also boasts several important tourist attractions, such as the canal-filled city of
Venice, the cities of Verona, Vicenza, Padua, Trento, Bolzano, Cremona, Bologna, Ferrara,
Parma, Ravenna, Cesena, Rimini and Trieste.
There are also several mountain ranges such as the Dolomites, the Carnic and Julian Alps and
first-class ski resorts like Cortina d'Ampezzo and Madonna di Campiglio. These four regions
offer much to see and do. The area has a unique cuisine, including wines and dishes such as
Prosecco and Tiramisu in Veneto and Cotechino, Ragu and Parma ham in Emilia Romagna,
San Daniele ham and D.O.C. wines in Valpolicella, Lake Garda, Valdobbiadene, Trentino and
Friuli-Venezia Giulia.

Central Italy edit

Urbino, Marche
Further information: Central Italy
Regions: Lazio, Marche, Tuscany and Umbria
This area is possibly the most visited in Italy and contains many popular attractions as well as
sought-after landscapes. Rome boasts the remaining wonders of the Roman Empire and some
of the world's best-known landmarks such as the Colosseum.
Florence, regarded as the birthplace of the Italian Renaissance, is Tuscany's most visited city,
whereas nearby cities like Siena, Pisa, Arezzo and Lucca also have rich cultural heritage.
Umbria's population is small but it has many important cities such as Perugia and Assisi. For
similar reasons, Lazio and Tuscany are some of Italy's most visited regions and the main targets
for Ecotourism.
Other cities in Marche like Pesaro, Fabriano and Urbino have a rich cultural heritage. This area
is known for its picturesque landscapes and attracts tourists from all over the world, including
Italy itself. Pristine landscapes serve as one of the primary motivators for tourists to visit central
Italy, although there are others, such as a rich history of art.

Southern Italy edit

Trulli in Alberobello, Apulia

Further information: Southern Italy
Regions: Apulia, Basilicata, Calabria, Campania, Abruzzo, and Molise
Southern Italy (also called Mezzogiorno) is well known for its cuisine, which offers a wide choice
of food at lower prices. It is also known for the pairing of Mediterranean clime with the beautiful
beaches of each region, an important element for local tourism. Naples is the most visited city in
the area, and the ruins of Pompeii are the most visited sights.
Other important tourist destinations include the Amalfi Coast, Ravello, Benevento, Caserta,
Salerno and Pozzuoli. The natural parks of Abruzzo, the greenest region in Europe,[322] include
the Abruzzo National Park, the National Park of Gran Sasso and Monti della Laga the Maiella
National Park and Sirente-Velino Regional Park which attract thousands of visitors due to more
than 30 protected Nature Reserves and the presence of 75% of all Europe's living species.[323]
Apulia, which includes the historical cities of Lecce and Bari and villages composed of trulli; like
Calabria it is famous for its coasts. Basilicata is very famous for so-called Sassi di Matera. The
main cities of Molise are Campobasso and Isernia, the most important sight is the Basilica of
Castelpetroso. Calabria coasts are very appreciated by tourists; the capital city is Catanzaro but
its most populated city is Reggio Calabria.

Insular Italy edit

Interior of the Monreale Cathedral, Sicily

Further information: Insular Italy
Regions: Sardinia and Sicily
Sicily, the largest island in the country, is a diverse and popular tourist island, famous for its
archaeology, seascape and unique Sicilian cuisine. Mount Etna, the beaches, the
archaeological sites, and major cities such as Palermo, Catania, Syracuse and Ragusa are the
favourite tourist destinations, but the old town of Taormina and the neighbouring seaside resort
of Giardini Naxos draw visitors from all over the world, as do the Aeolian Islands, Erice,
Terrasini, Castellammare del Golfo, Monreale, Cefalù, Agrigento, the Pelagie Islands and Capo
d'Orlando. An important sight is Val di Noto which offers a lot of Late Baroque cities built after
the catastrophic earthquake of 1693.
Sardinia is a large island some 250 kilometres west of the Italian coastline. It includes several
popular tourist attractions and has several beaches and archaeological ruins. It is also known
for its beaches, which are among the most beautiful in the world, and include the famous pink
beaches in the archipelago of La Maddalena. The most popular cities in Sardinia are: Cagliari,
Sassari, Alghero, Olbia and Porto Cervo. Porto Cervo, located in Costa Smeralda, is a popular
summer destination famous for its beaches and clubs among high-income earners.

Vacation in Italy in ancient times edit

Ruins of Herculaneum
It was the ancient Romans who invented the concept of "vacation".[324] The vacation was the
prerogative of the patricians, the wealthiest social caste, who owned villas outside Rome, mainly
in the Latium hinterland and on the Tyrrhenian coast.[325] The most popular place in Roman Italy
to vacation was Naples, an important cultural centre and a place that attracted artists,
philosophers and scholars of the time.[325]
The ancient Romans also visited Italy to learn about their origins, especially in regards to the
history, ancient legends and myths related to the founding of Rome.[324] Among the most popular
destinations for this type of vacation were the Circeo, where the jug was kept which, according
to tradition, had been used by Odysseus during his stay with the sorceress Circe.[324] Another
destination was a visit to the ship with which, according to tradition, Aeneas, a hero destined by
fate to the founding of Rome, had arrived on the shores of Latium.[324]
At the height of the imperial era, the city of Rome became a destination for aristocrats from all
over the Roman province who visited the capital to admire its most important monuments such
as the Colosseum, the Ara Pacis, the Pantheon and the Trajan's Column.[324] However, the
vacation resorts were numerous, from the lakes of Northern Italy to Sicily. The most visited by
the ancient Romans were the Phlegraean Fields, Pozzuoli, the hill of Posillipo, Baiae, Cape
Miseno and the island of Capri.[324]
In particular, in Baiae, which was characterized by a favourable climate all year round, there
were natural springs of sulphurous hot water with healing properties.[324] The city then became a
famous seaside resort, embellished by the presence of spas and luxurious villas.[324] Here Julius
Caesar, Pompey, Marcus Licinius Crassus, Cicero, Seneca the Younger, Caligula and Nero
owned a villa for vacationing.[324] Other important vacation localities of the ancient Romans were
Pompeii and Herculaneum, which were destroyed by the eruption of Mount Vesuvius in 79
AD.[324]

Cities edit
Further information: List of cities in Italy

Rome edit
Main articles: Tourism in Rome and List of tourist attractions in Rome
Further information: Rome

The Colosseum and the Arch of Constantine

Palazzo Senatorio, seat of the municipality of Rome. It has been a town hall since AD 1144,
making it the oldest town hall in the world.[326]
Rome is the capital city of Italy. It is also the capital of the Lazio region, the centre of the
Metropolitan City of Rome, and a special comune named Comune di Roma Capitale. Rome is
the country's most populated comune and the third most populous city in the European Union by
population within city limits. Rome is located in the central-western portion of the Italian
Peninsula, within Lazio (Latium), along the shores of the Tiber. Vatican City (the smallest
country in the world)[327] is an independent country inside the city boundaries of Rome, the only
existing example of a country within a city; for this reason, Rome has sometimes been
described as the capital of two states.[328][329]
Rome is often referred to as the City of Seven Hills due to its geographic location, and also as
the "Eternal City".[330] Rome is generally considered to be the "cradle of Western Christian
culture and civilization", and the centre of the Catholic Church.[331][332][333] Rome's history spans
28 centuries. While Roman mythology dates the founding of Rome at around 753 BC, the site
has been inhabited for much longer, making it a major human settlement for almost three
millennia and one of the oldest continuously occupied cities in Europe.[334] The city's early
population originated from a mix of Latins, Etruscans, and Sabines. Eventually, the city
successively became the capital of the Roman Kingdom, the Roman Republic and the Roman
Empire, and is regarded by many as the first-ever Imperial city and metropolis.[335] It was first
called The Eternal City (Latin: Urbs Aeterna; Italian: La Città Eterna) by the Roman poet Tibullus
in the 1st century BC, and the expression was also taken up by Ovid, Virgil, and Livy.[336][337]
Rome is also called "Caput Mundi" (Capital of the World).
Rome has become increasingly popular as a tourist destination globally. 45.6% from 2006 (6.03
million), Rome hosted 8.78 million international tourists in 2014, placing itself as the 14th most
visited city in the world.[338] Popular tourists attractions in the city include the Colosseum, St
Peter's Basilica, the Pantheon and so on, all of which are part of the World Heritage property.[339]
Other main sights in the city include, the Trevi Fountain, Piazza Navona, Roman Forum,[340]
Castel Sant'Angelo, the Basilica of St. John Lateran,[341] the Spanish Steps, Villa Borghese park,
Piazza del Popolo, the Trastevere and the Janiculum.[342]

Milan edit
Main article: Tourism in Milan
Further information: Milan

The Galleria Vittorio Emanuele II, the Milan Cathedral, the Royal Palace of Milan and the
Palazzo dell'Arengario in Piazza del Duomo
Piazza Mercanti used to be the heart of Milan in the Middle Ages
Milan is a city in northern Italy, capital of Lombardy, and the second-most populous city proper
in Italy after Rome. Milan is considered a leading alpha global city,[343] with strengths in the fields
of art, commerce, design, education, entertainment, fashion, finance, healthcare, media,
services, research and tourism. Its business district hosts Italy's stock exchange (Italian: Borsa
Italiana), and the headquarters of national and international banks and companies. In terms of
GDP, Milan is the wealthiest city in Italy, it has the third-largest economy among EU cities after
Paris and Madrid and is the wealthiest among EU non-capital cities.[344][345][346] Milan is viewed
along with Turin as the southernmost part of the Blue Banana urban development corridor (also
known as the "European Megalopolis"), and one of the Four Motors for Europe.
Milan is one of Europe's most important tourist destinations, and Italy's second; with 6.05 million
international arrivals as measured in 2014, it placed itself as the 24th most visited city in the
world.[338] According to a particular source, 56% of international visitors to Milan are from
Europe, whilst 44% of the city's tourists are Italian, and 56% are from abroad.[347] The most
important European Union markets are the United Kingdom (16%), Germany (9%) and France
(6%).[347] According to the same study, most of the visitors who come from the USA to the city go
on business matters, whilst Chinese and Japanese tourists mainly take up the leisure
segment.[348]
The city boasts several popular tourist attractions, such as the city's Duomo and Piazza, the
Teatro alla Scala, the San Siro Stadium, the Vittorio Emanuele II Gallery, the Sforza Castle, the
Pinacoteca di Brera and the Via Monte Napoleone. Most tourists visit sights such as Milan
Cathedral, the Sforza Castle and the Teatro alla Scala, however, other main sights such as the
Basilica of Sant'Ambrogio, the Navigli and the Brera district are less visited and prove to be less
popular.[348]
The city also has numerous hotels, including the ultra-luxurious Town House Galleria, which is
the world's first seven-star hotel, ranked officially by the Société Générale de Surveillance, and
one of The Leading Hotels of the World.[349] The average stay for a tourist in the city is of 3.43
nights, whilst foreigners stay for longer periods of time, 77% of which stay for a 2-5 night
average.[348] Of the 75% of visitors who stay in hotels, 4-star ones are the most popular (47%),
whilst 5-stars, or less than 3-stars, represent 11% and 15% of the charts respectively.

Naples edit
Further information: Naples
San Francesco di Paola, Naples, in Piazza del Plebiscito Teatro di San Carlo, the oldest
continuously active venue for opera in the world[350][351]
Naples is the regional capital of Campania and the third-largest city of Italy, after Rome and
Milan. Founded by Greeks in the first millennium BC, Naples is one of the oldest continuously
inhabited urban areas in the world.[352] In the ninth century BC, a colony known as Parthenope
(Ancient Greek: Παρθενόπη) was established on the Island of Megaride.[353] In the 6th century
BC, it was refounded as Neápolis.[354] The city was an important part of Magna Graecia, played
a major role in the merging of Greek and Roman society, and was a significant cultural centre
under the Romans.[355]
Its historic city centre is the largest in Europe and is listed as a UNESCO World Heritage
Site.[356] Naples is also near the famous volcano Vesuvius and the ruins of the ancient Roman
towns of Pompeii and Ercolano. Before italian unification it was the capital of Kingdom of the
Two Sicilies and the most important and populated city of Italy. Naples is well known for cuisine,
especially for pizza. In the city there are many tourist attractions, such as the Royal Palace, the
basilica of Santa Chiara, the Gesù Nuovo (New Jesus) church, Castel dell'Ovo, the Castel
Nuovo, the Castel Sant'Elmo, the city's Duomo, the Real Teatro di San Carlo (the oldest
continuously active opera house in the world), the Palace of Capodimonte, the Naples
underground geothermal tunnels, the Via Tribunali, Spaccanapoli street, the Veiled Christ (one
of the world's most remarkable sculptures), the various catacombs around the city (for example
the Catacombs of San Gennaro, or the Fontanelle cemetery, or the Catacombs of Saint
Gaudiosus), the Umberto I Gallery and the Via Toledo with its metro considered one of the most
beautiful of Europe.[357][358]
The Archaeological Museum of Naples is the most important in the world regarding Roman
history and also includes Egyptian and Greek finds. It is the home of the Federico II, the oldest
public and secular university in the world, and of the L'Orientale, the oldest school of Sinology
and Oriental Studies in Europe. Naples also boasts one of the most picturesque waterfront
promenades and charming locations at Gaiola Island and Marechiaro. Close to Naples, there is
a myriad of world-renowned tourist attractions such as the Amalfi Coast, Capri island, Ischia
island, Procida island, the picturesque city of Sorrento, and the city of Salerno.

Florence edit
Further information: Florence
Piazza della Signoria in Florence with the Palazzo Vecchio and the Loggia dei Lanzi The
Santa Maria del Fiore cathedral by Filippo Brunelleschi, which has the largest brick dome in the
world[359][360]
Florence is a city in Central-Northern Italy and the capital city of the Tuscany region. It is the
most populated city in Tuscany, with 383,084 inhabitants in 2013, and over 1,520,000 in its
metropolitan area.[361]
Florence was a centre of medieval European trade and finance and one of the wealthiest cities
of that era.[362] It is considered by many academics[363] to have been the birthplace of the
Renaissance, becoming a major artistic, cultural, commercial, political, economic and financial
center.[364] During this time, Florence rose to a position of enormous influence in Italy, Europe,
and beyond.[365] Its turbulent political history includes periods of rule by the powerful Medici
family and numerous religious and republican revolutions.[366] From 1865 to 1871 the city served
as the capital of the Kingdom of Italy (established in 1861). The Florentine dialect forms the
base of Standard Italian and it became the language of culture throughout Italy[367] due to the
prestige of the masterpieces by Dante Alighieri, Petrarch, Giovanni Boccaccio, Niccolò
Machiavelli and Francesco Guicciardini.
The city attracts millions of tourists each year, and UNESCO declared the Historic Centre of
Florence a World Heritage Site in 1982. The city is noted for its culture, Renaissance art and
architecture and monuments.[368] The city also contains numerous museums and art galleries,
such as the Uffizi Gallery and the Palazzo Pitti, and still exerts an influence in the fields of art,
culture and politics.[369] Due to Florence's artistic and architectural heritage, Forbes has ranked it
as the most beautiful city in the world.[370]
Florence plays an important role in Italian fashion,[369] and is ranked in the top 15 fashion
capitals of the world by Global Language Monitor;[371] furthermore, it is a major national
economic centre,[369] as well as a tourist and industrial hub. It is the 4th richest Italian city.[372]

Venice edit
Further information: Venice and List of palaces in Venice
Venice, with the Rialto Bridge in the background St Mark's Basilica in Venice, one of the best
known examples of Italo-Byzantine architecture [373]
Venice is a city in northeastern Italy and the capital of the Veneto region. It is built on a group of
118 small islands[374] that are separated by canals and linked by over 400 bridges.[374][375] The
islands are in the shallow Venetian Lagoon, an enclosed bay lying between the mouths of the
Po and the Piave rivers (more exactly between the Brenta and the Sile). In 2020, 258,685
people resided in the Comune di Venezia, of whom around 55,000 live in the historical city of
Venice (centro storico). Together with Padua and Treviso, the city is included in the
Padua-Treviso-Venice Metropolitan Area (PATREVE), which is considered a statistical
metropolitan area, with a total population of 2.6 million.[376]
The name is derived from the ancient Veneti people who inhabited the region by the 10th
century BC.[377][378] The city was historically the capital of the Republic of Venice for over a
millennium, from 697 to 1797. It was a major financial and maritime power during the Middle
Ages and Renaissance, and a staging area for the Crusades and the Battle of Lepanto, as well
as an important centre of commerce—especially silk, grain, and spice, and of art from the 13th
century to the end of the 17th. The city-state of Venice is considered to have been the first real
international financial centre, emerging in the 9th century and reaching its greatest prominence
in the 14th century.[379] This made Venice a wealthy city throughout most of its history.[380] After
the Napoleonic Wars and the Congress of Vienna, the Republic was annexed by the Austrian
Empire, until it became part of the Kingdom of Italy in 1866, following a referendum held as a
result of the Third Italian War of Independence.
Venice has been known as "La Dominante", "La Serenissima", "Queen of the Adriatic", "City of
Water", "City of Masks", "City of Bridges", "The Floating City", and "City of Canals". The lagoon
and a part of the city are listed as a UNESCO World Heritage Site. Parts of Venice are
renowned for the beauty of their settings, their architecture, and artwork.[374] Venice is known for
several important artistic movements—especially during the Renaissance period—and has
played an important role in the history of instrumental and operatic music, and is the birthplace
of Baroque composers Tomaso Albinoni and Antonio Vivaldi.[381]
Although the city is facing some challenges (including an excessive number of tourists and
problems caused by pollution, tide peaks and cruise ships sailing too close to
buildings),[382][383][384] Venice remains a very popular tourist destination, a major cultural centre,
and has been ranked many times the most beautiful city in the world.[1][2] It has been described
by the Times Online as one of Europe's most romantic cities[385] and by The New York Times as
"undoubtedly the most beautiful city built by man".[386]

Other cities edit

The Duomo and the Leaning Tower of Pisa The Mirror Gallery of the Royal Palace of
Genoa
● Palermo—ancient capital of the Kingdom of Sicily and of the Holy Roman Empire under
Frederick II. It is noted for its history, gastronomy and architecture; the particularity of the
city (such as the rest of Sicily) is that is a meeting point of Greek, Roman, Arabian,
Norman and Aragonian cultures.
● Bologna—home of the first university in the western world. This city has a rich history,
culture, and technology. Bologna is well known for its cuisine.
● Bari—is well known as a port and university city as well as the city of Saint Nicholas.
Capital of Apulia and second most important economic centre of Southern Italy after
Naples. The city has a rich culture and history.
● Genoa (Genova)— the Republic of Genoa was one of the most important maritime
republics of the Middle Ages. Very wealthy and diverse city. Its port brings in tourism and
trade, along with art and architecture. Genoa is the birthplace of Christopher Columbus
and the originator of jeans.
● Pisa—the Republic of Pisa was one of the medieval maritime republics, and the city has
many medieval palaces and squares. Home to the unmistakable image of the Leaning
Tower of Pisa. A very touristy city. Famous too for the Scuola Normale Superiore di Pisa.
● Turin (Torino)—the first capital of Italy, after being the capital of Kingdom of
Piedmont-Sardinia, which had promoted national reunification. The city has a rich culture
and history. Home of the FIAT, the most important industry in Italy, Turin is a well-known
industrial city, based on the aerospace industry and, of course, the automobile industry.
Home of the 2006 Winter Olympics.
● Verona—it is one of the main tourist destinations in northern Italy because of its artistic
heritage and several annual fairs and shows as well as the opera season in the Arena, an
ancient Roman amphitheatre.
● Padua (Padova)—it is picturesque, with a dense network of arcaded streets opening into
large communal piazze, and many bridges crossing the various branches of the
Bacchiglione, which once surrounded the ancient walls like a moat.

Other popular destinations edit

Mantua, Lombardy
Apart from Rome, Milan, Naples, Venice, and Florence are the top destinations for tourism in
Italy. Other major tourist locations include Turin, Verona, Bari, Padua, Bologna, Mantua,
Messina, Perugia, Palermo, Genoa, Sicily, Sardinia, and Salento.
Two factors in each of these locations are history and geography. The Roman Empire, Middle
Ages, Renaissance and the following centuries of the history of Italy have left many cultural
artefacts that attract tourists.[20] Winter and summer tourism are present in many locations in the
Alps and the Apennines,[11] while seaside tourism is widespread in coastal locations along the
Mediterranean Sea.[12]
Italy is home to fiftyeight UNESCO World Heritage Sites, more than any other country, including
many entire cities such as Verona, Siena, Vicenza, Ferrara, San Gimignano, Urbino, Matera,
Pompei, Noto and Siracusa. Ravenna hosts an unprecedented eight different internationally
recognized sites.

Accommodation capacity in Italy edit

The Grand Hotel des Iles Borromées, which is located in front of the Borromean Islands, hence
the name of the hotel, on the shores of Lake Maggiore
In Italy, there is a broad variety of hotels, going from 1-5 stars. According to ISTAT, in 2017,
there were 32,988 hotels with 1,133,452 rooms and 2,239,446 beds.[24] As far as extra-hotel
facilities (campsites, tourist villages, accommodations for rent, agritourism, etc.) are concerned,
in 2017, there are 171,915 with 2,798,352 beds.[24] The tourist flow to coastal resorts is 53
percent; the best equipped cities are Grosseto for farmhouses (217), Vieste for campsites and
tourist villages (84) and Cortina d'Ampezzo mountain huts (20).[25][26]
The number of hotels, according to their rating, in 2017, went like this:[387]
● 7-star hotels: 2 (the Town House Galleria located in Milan and Aman Canal Grande in
Venice).
● 5-star hotels and 4-star hotels: 6,335 with 859,621 beds.
● 3-star hotels: 18,116 with 1,133,452 beds.
● 2-star hotels and 1-star hotels: 8,537 with 246,373 beds.

See also edit

● Economy portal
● Italy portal
● Economy of Italy
● ENIT
● Grand Tour
● List of World Heritage Sites in Italy

References edit

1. ^ a b "Top 10 most Beautiful Cities in the World 2017". 28 July 2016.

Economy of Italy

The economy of Italy is a highly developed social market economy.[28] It is the third-largest national economy in
the European Union, the second-largest manufacturing industry in Europe (7th-largest in the world),[29] the 8th
largest economy in the world by nominal GDP, and the 12th-largest by GDP (PPP). Italy is a founding member of
the European Union, the Eurozone, the OECD, the G7 and the G20;[30] it is the eighth-largest exporter in the
world, with $611 billion exported in 2021. Its closest trade ties are with the other countries of the European Union,
with whom it conducts about 59% of its total trade. The largest trading partners, in order of market share in
exports, are Germany (12.5%), France (10.3%), the United States (9%), Spain (5.2%), the United Kingdom (5.2%)
and Switzerland (4.6%).[31]

Economy of
Italy

Milan is the economic capital of Italy,[1] and is a

global financial centre and a fashion capital of the
world.

Currency Euro (EUR, €) (Except in Campione d'Italia

– CHF)

Fiscal year Calendar Year

Trade organisations EU, WTO, G-20, G7, OECD, AIIB

Country group Developed/Advanced[2] High-income

economy[3]
 GDP (2019)[21]

Economic aid €28.8 billion from European Structural

and Investment
Funds (2007–2013)[22]
€42.77 billion from European
Structural and Investment
Funds (2014–2020)[23]

Credit rating Standard & Poor's:[24] BBB Outlook: Stable

Moody's:[25] Baa3
Outlook: Stable
Fitch:[26] BBB
Outlook: Stable
Scope:[27] BBB+
Outlook: Stable

Foreign reserves $211.3 billion (November 2022 est.)[8]

All values, unless otherwise stated, are in US dollars.

In the post-World War II period, Italy saw a transformation from an agricultural-based economy which had been
severely affected by the consequences of the World Wars, into one of the world's most advanced nations,[32] and a
leading country in world trade and exports. According to the Human Development Index, the country enjoys a very
high standard of living. According to The Economist, Italy has the world's 8th highest quality of life.[33] Italy
owns the world's third-largest gold reserve,[34] and is the third-largest net contributor to the budget of the
European Union. Furthermore, the advanced country private wealth is one of the largest in the world.[35] In terms
of private wealth, Italy ranks second, after Hong Kong, in private wealth to GDP ratio.
Italy is the world's seventh-largest manufacturing country,[36] characterised by a smaller number of global
multinational corporations than other economies of comparable size and many dynamic small and medium-sized
enterprises, notoriously clustered in several industrial districts, which are the backbone of the Italian industry. Italy
is a large manufacturer[37] and exporter[38] of a significant variety of products. Its products include machinery,
vehicles, pharmaceuticals, furniture, food and clothing.[39] Italy has a significant trade surplus. The country is also
well known for its influential and innovative business economic sector, an industrious and competitive agricultural
sector (Italy is the world's largest wine producer),[40] and manufacturers of creatively designed, high-quality
products: including automobiles, ships, home appliances, and designer clothing. Italy is the largest hub for luxury
goods in Europe and the third luxury hub globally.[41][42] Italy has a strong cooperative sector, with the largest share
of the population (4.5%) employed by a cooperative in the EU.[43]

Despite these important achievements, the country's economy today suffers from structural and non-structural
problems. Annual growth rates have often been below the EU average. Italy was hit particularly hard by the late
2000s recession. Massive government spending from the 1980s onwards has produced a severe rise in public
debt. In addition, Italian living standards have a considerable North–South divide: the average GDP per capita in
Northern Italy significantly exceeds the EU average, while some regions and provinces in Southern Italy are
significantly below the average. In Central Italy, GDP per capita is instead average.[44][45] In recent years, Italy's
GDP per capita growth slowly caught-up with the Eurozone average,[46] while its employment rate still lags
behind. However, economists dispute the official figures because of the large number of informal jobs (estimated
to be between 10% and 20% of the labour force) that lift the inactivity or unemployment rates.[47] The shadow
economy is highly represented in Southern Italy, while it becomes less intense as one moves north. In real
economic conditions, Southern Italy almost matches Central Italy's level.[48]

History

The Ferrari Portofino represents

the synergy of "Made in Italy"
brands that strengthens the Italian
economy.

The Italian Renaissance was remarkable in economic development. Venice and Genoa were the trade pioneers,
first as maritime republics and then as regional states, followed by Milan, Florence, and the rest of northern Italy.
Reasons for their early development are for example the relative military safety of Venetian lagoons, the high
population density and the institutional structure which inspired entrepreneurs.[49] The Republic of Venice was the
first real international financial center, which slowly emerged from the 9th century to its peak in the 15th century. [50]
Tradeable bonds as a commonly used type of security, were invented by the Italian city-states (such as Venice and
Genoa) of the late medieval and early Renaissance periods.

After 1600 Italy experienced an economic catastrophe. In 1600 Northern and Central Italy comprised one of the
 50 year
20 year
10 year
2 year
1 year
3 month

Italy was among the wealthy countries that were hardest hit by the Great Recession of 2008–2009 and the
subsequent European debt crisis. The national economy shrunk by 6.76% during the whole period, totaling seven
quarters of recession.[80] In November 2011 the Italian bond yield was 6.74 per cent for 10-year bonds, nearing a 7
per cent level where Italy is thought to lose access to financial markets.[81] According to Eurostat, in 2015 the
Italian government debt stood at 128% of GDP, ranking as the second biggest debt ratio after Greece (with 175%).
[82]
However, the biggest chunk of Italian public debt is owned by Italian nationals and relatively high levels of
private savings and low levels of private indebtedness are seen as making it the safest among Europe's struggling
economies.[83][84] As a shock therapy to avoid the debt crisis and kick-start growth, the national unity government
led by the economist Mario Monti launched a program of massive austerity measures, that brought down the deficit
but precipitated the country in a double-dip recession in 2012 and 2013, receiving criticism from numerous
economists.[85][86]

Economic recovery
In the period 2014-2019, the economy partially recovered from the disastrous losses incurred during the Great
Recession, primarily thanks to strong exports, but nonetheless, growth rates remained well below the Euro area
average, meaning that Italy's GDP in 2019 was still 5 per cent below its level in 2008.[87]

Economy resilient

Ferrari Daytona SP3

Starting from February 2020 after the United States had the first originated from China, Italy was the first country
in Europe to be severely affected by the COVID-19 pandemic,[88] that eventually expanded to the rest of the world.
The economy suffered a massive shock as a result of the lockdown of most of the country's economic activity.
After three months, at the end of May 2020, the pandemic was put under control, and the economy started to
recover, especially, the manufacturing sector. Overall, it remained surprisingly resilient, although GDP plummeted
like in most western countries.[89][90] The Italian government issued special treasury bills, known as BTP Futura[91]
as a COVID-19 emergency funding, waiting for the approval of the E.U. response to the outbreak. [92] Eventually,
in July 2020, the European Council approved the 750 billion € Next Generation EU fund,[93] of which €209 billion
will go to Italy.[94]
Currency

100 lire coin, 1956, with goddess

Minerva holding an olive tree and
a long spear depicted on the
reverse

Italy has a long history of different coinage types, which spans thousands of years. Italy has been influential at a
coinage point of view: the medieval Florentine florin, one of the most used coinage types in European history and
one of the most important coins in Western history,[95] was struck in Florence in the 13th century , while the
Venetian sequin, minted from 1284 to 1797, was the most prestigious gold coin in circulation in the commercial
centers of the Mediterranean Sea.[96]

Despite the fact that the first Italian coinage systems were used in the Magna Graecia and Etruscan civilization,
the Romans introduced a widespread currency throughout Italy. Unlike most modern coins, Roman coins had
intrinsic value.[97] The early modern Italian coins were very similar in style to French francs, especially in decimals,
since it was ruled by the country in the Napoleonic Kingdom of Italy. They corresponded to a value of 0.29 grams
of gold or 4.5 grams of silver.[9 8]
Since Italy has been for centuries divided into many historic states, they all had different coinage systems, but
when the country became unified in 1861, the Italian lira came into place, and was used until 2002.[99] The term
originates from libra, the largest unit of the Carolingian monetary system used in Western Europe and elsewhere
from the 8th to the 20th century.[100] In 1999, the euro became Italy's unit of account and the lira became a
national subunit of the euro at a rate of 1 euro = 1,936.27 lire, before being replaced as cash in 2002.

Overview

Data
The following table shows the main economic indicators in 1980–2021 (with IMF staff estimates in 2022–2027).
Inflation below 5% is in green.[101]

Ye GDP GDP per GDP GDP per GDP Inflation Unemployme Governme
ar capita capita growth rate nt debt
(in Bil. (in Bil. nt (in Percent)
US$PPP) (in US$ US$nominal) (in US$ (real) (in (in % of
PPP) GDP)
nominal) Percent)
respectively.[105]

Wealth

Stefano Pessina

Italy has over 1.4 million people with a net wealth greater than $1 million, a total national wealth of $11.857
trillion, and represents the 5th largest cumulative net wealth globally (it accounts for 4.92% of the net wealth in
the world).[106] According to the Credit Suisse's Global Wealth Databook 2013, the median wealth per adult is
$138,653 (5th in the world),[106] while according to the Allianz's Global Wealth Report 2013, the net financial
wealth per capita is €45,770 (13th in the world).[107]

The following top 10 list of Italian billionaires is based on an annual assessment of wealth and assets compiled and
published by Forbes in 2017.[108]

Rank Rank Name Net Worth Main source Main sector

(World) (Italy) ($bn)

29 1 Maria Franca Fissolo 25.2 Ferrero SpA Food

Ferrero & family

50 2 Leonardo Del Vecchio 17.9 Luxottica Eyewear

80 3 Stefano Pessina 13.9 Walgreens Pharmaceutical

Boots retail

133 4 Massimiliana Landini Aleotti 9.5 Menarini Pharmaceutical

199 5 Silvio Berlusconi 7.0 Fininvest Financial services

215 6 Giorgio Armani 6.6 Armani Fashion

250 7 Augusto & Giorgio Perfetti 5.8 Perfetti Van Confectionery

Melle

385 8 Paolo & Gianfelice Rocca 3.4 Techint Conglomerate

474 9 Giuseppe De'Longhi 3.8 De'Longhi Small appliance

603 10 Patrizio Bertelli 3.3 Prada Apparels

Regional data
generating private growth itself.[121]

The imbalance between North and South was reduced in the 1960s and 1970s through the construction of public
works, the implementation of agrarian and scholastic reforms,[122] the expansion of industrialization and the
improved living conditions of the population. This convergence process was interrupted, however, in the 1980s. To
date, the per capita GDP of the South is just 58% of that of the Center-North,[123] but this gap is mitigated by the
fact that there the cost of living is around 10-15% lower on average (with even more differences between small
towns and big cities) than that in the North of Italy.[124] In the South the unemployment rate is more than double
(6.7% in the North against 14.9% in the South).[125] A study by Censis blames the pervasive presence of criminal
organizations for the delay of Southern Italy, estimating an annual loss of wealth of 2.5% in the South in the period
between 1981–2003 due to their presence, and that without them the per capita GDP of the South would have
reached that of the North.[126]

Economic sectors

Primary

Vineyards in Langhe and

Montferrat, Piedmont. Italy is the
world's largest wine producer
(22% of the global market), as
well as the country with the
widest variety of indigenous
grapevine in the world.[40][127][128]

According to the last national agricultural census, there were 1.6 million farms in 2010 (−32.4% since 2000)
covering 12,700,000 ha or 31,382,383 acres (63% of which are located in Southern Italy).[129] The vast majority
(99%) are family-operated and small, averaging only 8 ha (20 acres) in size.[129] Of the total surface area in
agricultural use (forestry excluded), grain fields take up 31%, olive tree orchards 8.2%, vineyards 5.4%, citrus
orchards 3.8%, sugar beets 1.7%, and horticulture 2.4%. The remainder is primarily dedicated to pastures (25.9%)
and feed grains (11.6%).[129] The northern part of Italy produces primarily maize corn, rice, sugar beets, soybeans,
meat, fruits and dairy products, while the South specializes in wheat, olive and citrus fruits. Livestock includes 6
million head of cattle, 8.6 million head of swine, 6.8 million head of sheep, and 0.9 million head of goats.[129] The
total annual production of the fishing industry in Italy from capture and aquaculture, including crustaceans and
molluscs, is around 480,000 tons.

Italy is the largest producer of wine in the world, and one of the leading producers of olive oil, fruits (apples, olives,
grapes, oranges, lemons, pears, apricots, hazelnuts, peaches, cherries, plums, strawberries, and kiwifruits), and
vegetables (especially artichokes and tomatoes). The most famous Italian wines are the Tuscan Chianti and the
Piedmontese Barolo. Other famous wines are Barbaresco, Barbera d'Asti, Brunello di Montalcino, Frascati,
Montepulciano d'Abruzzo, Morellino di Scansano, Amarone della Valpolicella DOCG and the sparkling wines
Franciacorta and Prosecco. Quality goods in which Italy specialises, particularly the already mentioned wines and
regional cheeses, are often protected under the quality assurance labels DOC/DOP. This geographical indication
certificate, which is attributed by the European Union, is considered important to avoid confusion with low-quality
mass-produced ersatz products.

In fact, Italian cuisine is one of the most popular and copied around the world.[130] The lack or total unavailability of
some of its most characteristic ingredients outside of Italy, also and above all to falsifications (or food fraud), leads
to the complete denaturalization of Italian ingredients.[131] This phenomenon, widespread in all continents, is better
known as Italian Sounding, consisting in the use of words as well as images, colour combinations (the Italian
tricolour), geographical references, brands evocative of Italy to promote and market agri-food products which in
reality have nothing to do with Italian cuisine.[132]

Secondary

Eni is considered one of the

world's oil and gas "Supermajors"
[133]

Italy is the world's sixth-largest manufacturing country.[36] Italy has a smaller number of global multinational
corporations than other economies of comparable size, but it has a large number of small and medium-sized
enterprises, many of them grouped in clusters, which are the backbone of the Italian industry.[134] This results in a
manufacturing sector often focused on the export of niche market and luxury products, that is less capable of
competing on quantity but is more capable of facing the competition of emerging economies based on lower
labour costs, given the higher quality of its products.[135]

The industrial districts are regionalized: in the Northwest, there is a large modern group of industries, as in the so
called "industrial triangle" (Milan-Turin-Genoa), where there is an area of intense machinery, automotive,
aerospace production and shipbuilding; in the Northeast, an area that experienced social and economic
development mostly around family-based firms, there are mostly small and medium enterprises of lower
technology but high craftsmanship, specializing in machinery, clothing, leather products, footwear, furniture,
textiles, machine tools, spare parts, home appliances, and jewellery. In central Italy, there are mostly small and
medium-sized companies specializing in products such as textiles, leather, jewellery but also machinery.[134][136]
According to a study carried out in 2015 by the Edison Foundation and Confindustria on the most industrialized
provinces in Europe, of the five most industrialized provinces in Europe, three are Italian provinces. Brescia turns
out to be the first European province for value added by industry, with an added value over 10 billion euros.[137]

The automotive industry in Italy is a significant part of the manufacturing sector, with over 144,000 firms and
almost 485,000 employed people in 2015,[138] and a contribution of 8.5% to Italian GDP.[139] Italy's automotive
industry is best known for its automobile designs and small city cars, sports and supercars. Italy is one of the
significant automobile producers both in Europe and around the world. Today the Italian automotive industry is
almost totally dominated by Fiat Group (now included in Stellantis corporation). As well as its own, predominantly
mass market model range, Stellantis owns the mainstream Fiat brand, the upmarket Alfa Romeo and Lancia
brands, and the exotic Maserati brand. Luxury cars such as Ferrari, Lamborghini, Maserati and Ducati motorcycles
are also made in the Northeast region of Emilia-Romagna. Italian cars won in the European Car of the Year annual
award one of the most times among other countries (including Fiat most that any other manufacturer) and in World
Car of the Year award also.

Tertiary

Palazzo Mezzanotte in Milan, the

seat of the Italian Bourse

The Amalfi Coast, one of Italy's

major tourist destinations[140]

In Italy, services represent the most important sector of the economy, both in terms of number of employees (67%
of the total) and value-added (71%).[141] Furthermore, the sector is by far the most dynamic: over 51% of the more
than 5,000,000 companies operating in Italy today belong to the services sector, and in this sector over 67% of new
businesses are born.[142] Very important activities in Italy are tourism, trade, services to people and businesses
(advanced tertiary).

In 2006 the main sectoral data are: for trade, there are 1,600,000 enterprises, equal to 26% of the Italian
entrepreneurial fabric, and over 3,500,000 work units. Transport, communications, tourism and consumption
outside the home, over 582,000 businesses, equal to 9.5% of the entrepreneurial fabric, almost 3,500,000 work
units. Business services: 630,000 registered companies, equal to 10.3% of the entrepreneurial fabric, over
2,800,000 work units.[142] In 2004 the transport sector in Italy generated a turnover of about 119.4 billion euros,
employing 935,700 persons in 153,700 enterprises.

Italian Bourse, based in Milan, is the Italian stock exchange . It manages and organises the domestic market,
regulating procedures for admission and listing of companies and intermediaries and supervising disclosures for
listed companies.[143] Following exchange privatisation in 1997, the Italian Bourse was established and became
effective on 2 January 1998.[144] On 23 June 2007, the Italian Bourse became a subsidiary of the London Stock
Exchange Group.[145] As of April 2018, overall capitalisation for listed companies on Borsa Italiana was worth
€644.3 billion, representing 37.8% of Italian GDP.[146]

Italy is the fifth most visited country in international tourism, with a total of 52.3 million international arrivals in
2016.[147] The total contribution of the tourism in Italy to GDP (including wider effects from investment, the supply
chain and induced income impacts) was EUR162.7bn in 2014 (10.1% of GDP) and generated 1,082,000
jobs directly in 2014 (4.8% of total employment).[148] Factors of tourist interest in Italy are mainly culture,
cuisine, history, fashion, architecture, art, religious sites and routes, wedding tourism, naturalistic beauties,
nightlife,
underwater sites and spas.[149][150][151][152][153][154][155] Winter and summer tourism are present in many locations in
the Alps and the Apennines,[156] while seaside tourism is widespread in coastal locations on the Mediterranean
Sea.[157] Italy is the leading cruise tourism destination in the Mediterranean Sea.[158] Small, historical and artistic
Italian villages are promoted through the association I Borghi più belli d'Italia (literally "The Most Beautiful Villages
of Italy").

The origins of modern banking can be traced to medieval and early Renaissance Italy, to the rich cities like
Florence, Lucca, Siena, Venice and Genoa. The Bardi and Peruzzi families dominated banking in 14th-century
Florence, establishing branches in many other parts of Europe.[159] One of the most famous Italian banks was the
Medici Bank , set up by Giovanni di Bicci de' Medici in 1397.[160] The earliest known state deposit bank, the Bank of
Saint George, was founded in 1407 in Genoa,[161] while Banca Monte dei Paschi di Siena, founded in 1472, is the
world's oldest or second oldest bank in continuous operation, depending on the definition, and the third-largest
Italian commercial and retail bank.[162] Today, among the financial services companies, UniCredit is one of the
largest banks in Europe by capitalization and Assicurazioni Generali is second largest insurance group in the
world by revenue after AXA.

Banca Monte dei Paschi di Siena,

founded in 1472, is the world's
oldest or second oldest bank in
continuous operation.

The headquarters of UniCredit

bank in Milan

The following is a list of the main Italian banks and insurance groups ranked by total assets and gross premiums
written.
examples of large PV plants in Italy are San Bellino (70.6 MW), Cellino san Marco (42.7 MW) and Sant’ Alberto
(34.6 MW).[173] Italy was also the first country to exploit geothermal energy to produce electricity.[171]

Renewable sources account for 27.5% of all electricity produced in Italy, with hydro alone reaching 12.6%,
followed by solar at 5.7%, wind at 4.1%, bioenergy at 3.5%, and geothermal at 1.6%.[174] The rest of the national
demand is covered by fossil fuels (38.2% natural gas, 13% coal, 8.4% oil) and by imports.[174]

Italy has managed four nuclear reactors until the 1980s, but in 1987, after the Chernobyl disaster, a large majority
of Italians passed a referendum opting for phasing out nuclear power in Italy. The government responded by
closing existing nuclear power plants and stopping work on projects underway, continuing to work to the nuclear
energy program abroad. The national power company Enel operates seven nuclear reactors in Spain (through
Endesa) and four in Slovakia (through Slovenské elektrárne),[175] and in 2005 made an agreement with Électricité
de France for a nuclear reactor in France.[170] With these agreements, Italy has managed to access nuclear power
and direct involvement in design, construction, and operation of the plants without placing reactors on Italian
territory.[170]
In the early 1970s Italy was a major producer of pyrites (from the Tuscan Maremma), asbestos (from the
Balangero mines), fluorite (found in Sicily), and salt. At the same time, it was self-sufficient in aluminium (from
Gargano), sulphur (from Sicily), lead, and zinc (from Sardinia).[176] By the beginning of the 1990s, however, it had
lost all its world-ranking positions and was no longer self-sufficient in those resources. There are no substantial
deposits of iron, coal, or oil. Italy is one of the world's leading producers of pumice, pozzolana, and feldspar.[176]
Another mineral resource for which Italy is well-known is marble, especially the world-famous white Carrara
marble from the Massa and Carrara quarries in Tuscany.

Transportation

The Autostrada dei Laghi ("Lakes

Motorway"), the first motorway
built in the world[177][178]

Regarding the national road network, in 2002 there were 668,721 km (415,524 mi) of serviceable roads in Italy,
including 6,487 km (4,031 mi) of motorways, state-owned but privately operated by Atlantia. In 2005, about
34,667,000 passenger cars (590 cars per 1,000 people) and 4,015,000 goods vehicles circulated on the national
road network.[179]

Italy was the first country in the world to build motorways, the so-called autostrade, reserved for fast traffic and for
motor vehicles only.[177][178] The Autostrada dei Laghi ("Lakes Motorway"), the first built in the world, connecting
Milan to Lake Como and Lake Maggiore, and now parts of the A8 and A9 motorways, was devised by Piero
Puricelli and was inaugurated in 1924.[178] He received the first authorization to build a public-utility fast road in
1921. By the end of the 1930s, over 400 kilometres of multi- and dual-single-lane motorways were constructed
throughout Italy, linking cities and rural towns. Italy is one of the countries with the most vehicles per capita, with
690 per 1000 people in 2010.[180]

FS' Frecciarossa 1000 high speed

train, with a maximum speed of
400 km/h (249 mph)[181]

The national railway network is also extensive, especially in the north, totalizing 16,862 km of which 69% are
electrified and on which 4,937 locomotives and railcars circulate. It is the 12th largest in the world, and is operated
by state-owned Ferrovie dello Stato, while the rail tracks and infrastructure are managed by Rete Ferroviaria
Italiana. While a number of private railroads exist and provide mostly commuter-type services, the national railway
also provides sophisticated high-speed rail service that joins the major cities. The Florence–Rome high-speed
railway was the first high-speed line opened in Europe when more than half of it opened in 1977. In 1991 the TAV
was created for the planning and construction of high-speed rail lines along Italy's most important and saturated
transport routes (Milan-Rome-Naples and Turin-Milan-Venice). High-speed trains include ETR-class trains, with
the Frecciarossa 1000 reaching 400 km/h. Higher-speed trains are divided into three categories: Frecciarossa
(English: red arrow) trains operate at a maximum speed of 300 km/h on dedicated high-speed tracks;
Frecciargento (English: silver arrow) trains operate at a maximum speed of 250 km/h on both high-speed and
mainline tracks; and Frecciabianca (English: white arrow) trains operate on high-speed regional lines at a
maximum speed of 200 km/h. Italy has 11 rail border crossings over the Alpine mountains with its neighbouring
countries.

21st Century Silk Road with its

connections to Italy

Since October 2021, Italy's flag carrier airline is ITA Airways, which took over the brand, the IATA ticketing code,
and many assets belonging to the former flag carrier Alitalia, after its bankruptcy.[182] ITA Airways serves 44
destinations (as of October 2021) and also operates the former Alitalia regional subsidiary, Alitalia CityLiner.[183]
The country also has regional airlines (such as Air Dolomiti), low-cost carriers, and Charter and leisure carriers
(including Neos, Blue Panorama Airlines and Poste Air Cargo). Major Italian cargo operators are Alitalia Cargo
and Cargolux Italia. Italy is the fifth in Europe by number of passengers by air transport, with about 148 million
passengers or about 10% of the European total in 2011.[184] There are approximately 130 airports in Italy, of which
99 have paved runways (including the two hubs of Leonardo Da Vinci International in Rome and Malpensa
International in Milan).

Italy has been the final destination of the Silk Road for many centuries. In particular, the construction of the Suez
Canal intensified sea trade with East Africa and Asia from the 19th century. Since the end of the Cold War and
increasing European integration, trade relations, which were often interrupted in the 20th century, have intensified
again. In 2004 there were 43 major seaports including the Port of Genoa, the country's largest and the third
busiest by cargo tonnage in the Mediterranean Sea. Due to the increasing importance of the maritime Silk Road
with its connections to Asia and East Africa, the Italian ports for Central and Eastern Europe have become
important in recent years. In addition, the trade in goods is shifting from the European northern ports to the ports of
the Mediterranean Sea due to the considerable time savings and environmental protection. In particular, the deep
water port of Trieste in the northernmost part of the Mediterranean Sea is the target of Italian, Asian and European
investments.[185][186][187][188][189][190] The national inland waterway network comprises 1,477 km (918 mi) of
navigable rivers and channels. In 2007 Italy maintained a civilian air fleet of about 389,000 units and a merchant
fleet of 581 ships.[191]

Poverty

Homeless in Milan
In 2015, poverty in Italy hit the highest levels in the previous 10 years. The level of absolute poverty for a two
person family was €1050.95/month. The poverty line per capita changed by region from €552.39/month to
€819.13/month. The number of those in absolute poverty rose nearly an entire per cent in 2015, from 6.8% in 2014
to 7.6% in 2015.[192] In Southern Italy the numbers are even higher, with 10% living in absolute poverty, up from 9
per cent in 2014. Northern Italy is better off at 6.7%, but this is still an increase from 5.7% in 2014.[192]

The national statistics reporting agency, ISTAT, defines absolute poverty as those who can not buy goods and
services which they need to survive. In 2015, the proportion of poor households in relative poverty also increased
to 13.7 from 12.9 in 2014. ISTAT defines relative poverty as people whose disposable income is less than around
half the national average. The unemployment rate in February 2016 remained at 11.7%, which has been the same
for almost a year, but even having a job does not guarantee freedom from poverty.[193]

Those who have at least one family member employed still suffer from 6.1% to 11.7% poverty, the higher number
being for those who have factory jobs. The numbers are even higher for the younger generations because their
unemployment rate is over 40%. Also, children are hit hard. In 2014, 32% of those aged 0–17 were at risk of
poverty or social exclusion, which is one child out of three. While in the north the poverty rate is about the same
as that of France and Germany, in the south it is almost double that figure. In the last ISTAT report, poverty is in
decline.[194] According to the 2022 ISTAT Poverty Report, 2.18 million households and 5.6 million people live in
absolute poverty in Italy.[195]

According to Eurostat, by 2023 63% of Italian households will struggle to make ends meet, making it one of the
European countries with the most widespread economic difficulties, surpassing France, Poland, Spain and
Portugal. The European average is 45.5%.[196]