Transcript 1 - Anie

Key figures
Singapore, December 2013
Content of the document
• Key Economic Figures
• Our Strengths and "Destinazione Italia"
initiative
1
Italy and the Eurozone:
key economic figures
Focus
• Italy rose from 10th to 5th place in the best deficit / GDP ranking and is already
within the Maastricht criteria
• From 7th to 1st place in the primary surplus / GDP ranking
• External public debt in 2012 amounted to 45% of GDP, less than Germany
(50%) and France (58%)
• Household debt as a percentage of Italian GDP is the lowest among the advanced
economies (source: EU)
2
Financial stability is not a risk
Q2 2011 Breakdown of Total Debt
(% of GDP)
Households
Non financial contractors
Greece
• Net wealth of households is 8
times their disposable income
(8,2 UK, 8,1 FR, 7,8 JP and 5,3
US)
• Italian households
leveraged: 71% of
income (100% FR
125% US and JP
UK)
are less
disposable
and GE,
and 165%
Financial institutions
Government
Germany
Italy
France
Portugal
Spain
UK
Ireland
700%
600%
Source: Simmons&Simmons, McKinsey Global Institute
500%
400%
300%
200%
100%
0%
Source: Bank of Italy, Anno XXII, December 13th, 2012; Bulletin based on
2010 data
3
1995
2000
2005
2009
2011
1995
2000
2005
2009
2011
1995
2000
2005
2009
2011
1995
2000
2005
2009
2011
1995
2000
2005
2009
2011
1995
2000
2005
2009
2011
1995
2000
2005
2009
2011
1995
2000
2005
2009
2011
1995
2000
2005
2009
2011
1995
2000
2005
2009
2011
1995
2000
2005
2009
2011
Source: MEF Analysis on Eurostat data
1995
2000
2005
2009
2011
AT
1995
2000
2005
2009
2011
1995
2000
2005
2009
2011
Private debt remains low
Percentage of GDP
350%
Non financial contractors
Households
300%
250%
200%
150%
100%
50%
0%
BE
DK
FI
FR
DE
EL
IE
IT
NL
PT
UK
ES
SW
4
Labor market is less rigid than
commonly believed
Ireland
Italy
Netherlands France
Spain
Germany
Rank
27
99
123
155
157
158
Difficulty of hiring
(0-100)
11
33
17
67
78
33
Rigidity of hours
index (0-100)
0
40
40
60
40
53
Difficulty of firing
index (0-100)
20
40
70
30
30
40
Difficulty of
employment index
(0-100)
10
38
42
52
49
42
Firing cost
(week of salary)
18
11
17
32
56
69
Note: Higher value for the indices correspond to more labor market rigidity in the countries considered
Source: Doing business database, World Bank
5
Italy has a competitive
labor cost in EU
The labor cost in EU countries (Euro/Hour)
Belgium
39,3
France
Italy vs EU
Engineers
Italy vs EU
Specialized workers
€0
€0
€25 €50 €75€100€125
€25
€50
€75
34,2
Switzerland
Lussemburgo
33,7
Germany
Holland
31,1
Ireland
Germany
30,1
Finland
29,7
UK
Austria
29,2
France
Ireland
Italy
27,4
26,4
Italy
6
Content of the document
• Key Economic Figures
• Our Strengths and "Destinazione Italia"
initiative
7
In the next years Italy has great
chances to succeed in global competition
A
… to attract investments
1 A Strategic Gateway
2 A Wide Extension of Infrastructure
3 Italian Lifestyle
4 Countless Opportunities for Expansion
5 Knowledge System and Professional Skills
Why Italy has
great
chances…
6 Friendlier Business Environment
B
… to increase Export
1 Second manufacturing country in Europe
2 Strong exporting country
3 New foreign destination markets for Italian export
4 Emersion of a new middle class with propensity to luxury
and branded products’ consumption
5 Growing diffusion of free trade agreements (TTIP)
8
6 fact based reasons to invest in Italy
1
A strategic Gateway
• A strategic location in the heart of the Mediterranean Sea
• The main thoroughfare linking southern Europe to northern and central
Europe by land, sea and air
• A gateway to 500 million consumers across the European Union, and to
270 million in Northern Africa and the Middle East.
2
A Wide Extension
of Infrastructure
• Road extension: 1 million km, the second longest network in the EU after
France. 6,500 km of motorways, 13.7% of all motorways in the EU (25)
• Rail network: 16,300 km of track, the fifth longest in the EU. High Speed
Rail 923 km (and 395 Km under construction) with a top speed of over 250
km/h (160 mph) and 40 million passengers per year (Source UIC)
• Logistics and ports: the second most important country in Europe for
maritime freight, and for passenger transport. 263 ports scattered along
8,122 km of coastline, 49 million passengers per year, port traffic of 512
million tons.
9
6 fact based reasons to invest in Italy
3
Italian Lifestyle
• The 4th world top country brand in the Country Brand Index, Italy inspires
passion and interest. An example? Italian pavilion at Shanghai was the 2°
after China and 1° web site visited
• Highly requested location for expat managers
• Top position in Art & Culture, History, Fine Dining, Quality Products (1st
worldwide for UNESCO World Heritage sites)
4
Countless
Opportunities for
Expansion
• GDP: 10th among OECD countries and 4th among European countries with
a value of more than 1.5 trillion
• Italian companies are great exporters in every sector and corner of the
world. Investing in Italy means having access to unique export know-how
• More than 30 million internet users, i.e. countless opportunities to
businesses in strategic sectors: logistics, ICT, life sciences, solar energy,
tourism
10
6 fact based reasons to invest in Italy
5
Knowledge System
and professional skills
• Research and innovation are widely integrated into industrial processes
with a long tradition of excellence in many fields (including medicine,
biomedical and nanotechnology)
• An extensive network of high-quality universities and scientific and
technological parks. Companies investing in Italy can rely on an average
of 300,000 graduates per year *
• Top foreign multinationals located in Italy highlight benefits from sector
specific technical and managerial skills and patents/know-how as well as
the capacity to set trends in different industries **
6
A Friendlier Business
Environment
• Following the recent reform of Italian corporate law, Italy’s legal framework for
companies is one of the most modern and dynamic in Europe
• Thanks to the recent regulation, much greater flexibility in setting up a
new business for Start-ups
• Vast simplification program for the corporate tax system
* Source: Minister of University and Research
** Source: Ipsos Survey
11
…and "Destinazione Italia":
a flagship initiative to attract investments
Our Government has recently defined 50 measures for:
A stable business
environment for
investment
• Certainty of taxation: tax agreements and dedicated desk of the
Italian Revenue Agency
• Certainty of procedures: reform of authorization procedures
• Certainty of rules and timing: dedicated law courts to foreign
companies
Enhancing the value • More IPOs in Italy’s stock market
of Italy’s Assets
• Raising capital for SMEs and start-ups
• Opening up tourism and culture to foreign investors
• Easing investment in real estate and infrastructure through
PPP
Investing in human
capital
• Incentives for donations to universities and development of
spin-offs
• Easier procedures for visas for investors, students,
researchers and Expo
12
Increasing Export:
second manufacturing country in Europe
A
… to attract investments
1 A Strategic Gateway
2 A Wide Extension of Infrastructure
3 Italian Lifestyle
4 Countless Opportunities for Expansion
5 Knowledge System and Professional Skills
Why Italy has
great
chances…
6 Friendlier Business Environment
B
… to increase Export
1 Second manufacturing country in Europe
2 Strong exporting country
3 New foreign destination markets for Italian export
4 Emersion of a new middle class with propensity to luxury
and branded products’ consumption
5 Growing diffusion of free trade agreements (TTIP)
13
2 A Strong Exporting Country
Italian
Export
trend
Bln €
474
79
84
88
338
376
390
2010
27%
2011
28%
2012
30%
14.4%
Δ % YOY
361
455
544
511
93
97
401
419
420
441
447
2013*
31%
2014*
32%
2015*
33%
75
69
Services
Goods
Export/
GDP
3.2%
489
413
Trade
Balance
in manufactured
Products
G-20
Countries *
4.2%
10.2%
6.0%
4.9%
292
2009
25%
866
5°
Year 2012 (Bln USD)*
394
292
205
113
-8
South
China Germany Japan Korea
-20
-24
-34
-52
-81
-99
-130
-140
-146
-610
Italy India Mexico Turkey France Indone- Brazil
Source: Eurostat, Commissione Europea e CSC Confindustria
UK
Canada Russia Aus- United
sia
tralia States
*Source WTO: Excluded Argentina, South Africa and Saudi Arabia
14
Industry switching to Machinery and
High Tech specialization
The evolution of Italian manufacturing structure
Sales at constant prices
High tech
Machinery &
electrical equipment
Transport
Intermediate goods
Household goods
4%
7%
6%
6%
26%
25%
28%
31%
7%
7%
8%
7%
24%
23%
4%
11%
23%
4%
24%
5%
Fashion goods
18%
15%
5%
12%
Other consumption
goods
19%
19%
18%
19%
1984
1994
2004
2014*
Source: Intesa Sanpaolo Bank ; Prometeia
15
4 … and also an increasing
luxury and branded products’ consumption
Billions of dollars
World trend – Luxury and branded products
Top 100 Luxury Brands
1 Hermes
Total
Emerging markets
236,3
4,9%
2 Chanel
3 Louis Vuitton
225,8
215,3
4 Christian Dior
205,0
5 Ferragamo
195,0
179,2
6 Versace
171,9
164,6
Mature Markets
Latin America
7 Prada
157,4
150,4
6,4%
8 Fendi
8,2
8,8
8,7
9,4
10,0
12,2
7,7
6,8
7,5
7,3
8,1
North Africa and
Middle East
New EU countries
9,4
10,1
10,8
11,5
7,5
7,9
8,3
8,7
9,1
Eastern Europe
13,4
14,3
15,2
16,1
17,0
2014
2015
2016
2017
2018
Asia
9 Armani
10 Ermenegildo Zegna
Recently, World Luxury Association, a non-profit
American organisation rolled out its list of the
World's Most Valuable Top 100 Luxury Brands.
French fashion house Hermes took the top spot;
here are the other fashion brands that made it to
the top 10 (January 2012)
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