In this article I’ll tell you about Business Sectors In Italy. Economy of Italy is one of the finest and well balanced economies in the world. Being the seventh in the list, it has many different business sectors that power it. Some of the sectors have contributed a lot to the country’s development and made the economy a flexible one.
There are many countries that are dependent on one or two business sectors for their economic growth. Such countries face major problems, if those sectors are on the down side. But the economy of Italy is different and better as many different sectors contribute equally to the country’s development.
Agriculture is one of Italy’s most important domestic industries and Italy is one of the biggest food producers in the EU. Although there are many restrictions regarding the quality of food and some other issues under the of the Common Agricultural Policy, still there are many opportunities for the people involved in the agriculture sector to both maintain and expand the market. While the recent economic recession has dampened luxury food sales and expensive restaurant visits, Italy after Portugal still spends more per capita on food than any other EU country.
Energy Generation Equipment
Being an industrialized country, Italy requires electricity at a very large scale. Italy is very vulnerable when it comes to the energy sector. Italy is very much dependent on energy resources and almost 85 percent of its total requirement is being imported from other countries. By its own, Italy cannot satisfy the complete electricity requirements, so almost 15 percent of electricity has to purchase from neighboring countries.
With technically advanced industries, Italy needs to invest resources in new technologies. Government policy is focusing on investments in energy production diversification of energy sources, promotion of energy conservation technologies, and utilization of alternative renewable sources. So setting up an industry in this sector is really beneficial. As this sector requires major financial contribution, the government is willing to help the private industries if the plans are impressive.
Fashion has always been associated with Italy and vice versa. Italy has a large and developed domestic apparel industry and this makes Italy as a renowned as a leader in world fashion, which we can see in a lot of fashion blogs where there’s close to a monopoly of italian fashion labels. There is an estimated figure that clothing, accessories and footwear worth 39 billion Euros were sold in the year 2007.
Although the Italian apparel market is mature and competitive, it is constantly changing, which creates opportunities. Fashion keeps on changing rapidly and the same has happened over the last decade or so. The changes from classical lines towards more casual wear have created business opportunities for many new designers and industries. Better quality and branded clothing has been a trademark of Italian products and every effort is being made to keep this level of trust from customers.
There are many more business sectors that are contributing a lot in bringing foreign money in to the country and are expected to grow more in the next decade. So the country with vast culture and traditions is a really good option if you are really looking to invest and get something good out of it.