Italy is an investment magnet: increasingly attractive, but still not very sustainable

Italy is an investment magnet: increasingly attractive, but still not very sustainable

2023-09-07 14:04:57

This year too Germania confirmed itself as the most “attractive” country for business, followed by United States e United Kingdom. The novelty this year is instead represented by the decisive Italy’s leap forward which gained five positions, climbing up to 17th place in the rankings. These are the most important indications that emerge from the 2023 edition of Global Attractiveness Index (Gai) realized by The European House – Ambrosetti in collaboration with Eunipharma, Iapg, Philip Morris Italia, ServiceNow e Toyota Material Handling Italia. The survey maps 146 economies of the world (excluding Russia and Ukraine due to the unavailability of reliable data), with over 1 million data points collected, and measures how the “geography of attractiveness” as the speed of each country varies with respect to the others, not only with respect to itself. In this sense, the Gai is a relative index, as it subjects each economy to comparison with “the best” (Germany in 2023), taking four macro-areas as reference (openness, innovation, endowment and efficiency).

“The Gai 2023 shows a progressive improvement in Italy’s situation, after the worsening that characterized the two-year period 2020-20211 – the words of Enrico Giovannini, scientific director of ASviS and member of the project’s scientific committee – The increase in flows of direct investments from abroad, the increased performance of the logistics system and above all the dynamics of the GDP, which increased sharply after the recession induced by the pandemic, contributed to this improvement above all, while the flows of tourism and the level of taxation contribute to worsening the Italian position”.

With reference to actions to improve theattractiveness of Italy, Roberto Monducci, former director of the statistical production department of Istathighlighted: “Our economy still suffers from numerous critical issues, well highlighted by the analyzes and policy proposals presented in Gai Report 2023with particular reference to low and undynamic wages, the difficulties in the ecological and digital transition, the weakness of investments in research and development”.

More generally, it is necessary to improve performance in terms of sustainability, because it is precisely this aspect that large companies look at when deciding where to make their investments. And it is for this reason that sustainability aspects, measured by a specific index, are assuming increasingly centrality in the Gai. In this index, the Italian performance, although positive in international comparison, is deficient when compared with that of the main European countries. Compared to the average of France, Germania e Spainl’Italia it ranks ten places lower in the overall sustainability index, six places lower in the resilience pillar, 14 places lower in the vulnerability pillar and 11 places lower in the ecological transition pillar.

“We are convinced that the attraction of new investments and, therefore, the growth and transformations that follow are united by one element: the possibility of being part of an integrated supply chain – concludes the analysis Marco Hannappel, CEO and president of Philip Morris Italy – Attracting and maintaining large-scale investments means, for a country like ours, aiming to create an ecosystem of supply chains that enhances the genius, creativity and capacity for innovation that have always characterized our agricultural, manufacturing and production fabric and the small and medium-sized enterprises that compose it”.

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