Introduction

Italy, or Repubblica Italiana, is located in south-central Europe. The Italian peninsula is surrounded by water on three sides: the Adriatic, Tyrrhenian, Ionian, and Mediterranean Seas. In the north, Italy borders France, Switzerland, Austria, and Slovenia. Italy is comprised of fifteen standard regions who answer to the state plus five which have been given special autonomy. Its capital city is Rome, one of the oldest and most famous tourist cities in the world. Beyond attracting visitors to its many hot-spot destinations, Italy is also an important member of the European Union and NATO and has been a strong supporter of European integration. ¹

Economy and Business

Italy’s economy is an important segment of the global financial sphere:

• 3rd largest economy in Eurozone ¹
• Ranked 12th in GDP globally  ²
• New policies introduced by government expected to contribute to an increase in GDP for 2019 and 2020 through more household spending ³
• Strong engineering and science industries 
• Strong public private partnerships
• Diversified industrial economy in the north and an agricultural south ³

The top 3 international trade partners for Italy are Germany, France, and the United States. ³

Strengths

• Global Edge rates the business climate rating as a very low risk environment. Corporate financial information is reliable, institutions are efficient, and transactions run smoothly in Italy ³
• The International Monetary Fund predicts overall unemployment to continue to drop in 2019 and 2020 ⁴
• One of the broadest economies in the world encompassing almost every business industry ⁵
• The Italian government is very focused on encouraging investment in the country through business incentives, which are offered to both foreign and local investors ⁶

Business Market and Job Opportunities

Approximately 99% of Italy’s business market is comprised of family-owned small and medium sized firms who produce 68% of Italy’s GDP. ⁶ Much of this activity is located in the northern part of the country in Milan and Venice, who are responsible for almost half of Italy’s total income. ⁷

Growing and Top Sectors:

• Tourism: approximately 12.8% of Italian jobs are in tourism, Italy has 51 UNESCO as world heritage sites, more than any other country ⁷
• Manufacturing: Italy’s small and medium sized companies specialize in high quality products at a low labor cost ⁸
• Agriculture: Over 1.6 million farms in Italy, globally Italy is the largest producer of wine ⁸
• Service: home to a large number of banks and the second largest insurance company in profit in the world ⁸
• Trade: 8th top exporter in the world and the largest exporter of luxury goods ⁸

Culture

Italy’s business environment is more relaxed than the United States. Business environments tend to flow on “European” time -- deadlines and punctuality are not as important as developing personal relationships with business partners. Italians place importance on the hierarchical organization of business and emphasize respect for those who are older and more powerful. Although Italians recognize the importance of hard work, they also try and prevent burnout by encouraging long lunches and paid time off. 

As one of the top tourist destinations in the world, Italy has ample opportunity for balancing work and play: 

• Italy’s ample coastlines are home to beautiful seaside villages and resorts in a mild Mediterranean climate
• Despite the rise of technology, traditional public gatherings remain popular in the cities’ piazzas, where one can attend bars, cinemas, pizzerias, and discos ¹
• Diverse festivals and celebrations, many of which are based on food and religion

Italy boasts some of the strongest ties to the Renaissance and the cultural and artistic revolution it signified. Many of the world’s most well-known artists are Italian such as Donatello, Michelangelo, and Leonardo Da Vinci. ¹

The Advantage of Studying Italian

Italian is very closely related to English and it is easy for English speakers to recognize and understand Italian words. The phonetics of Italian are much easier to master than most Romance languages because the way a word is written reflects its pronunciation. Additionally, Italian is considered a gateway for learning French, Portuguese, or Spanish. When you choose to study Italian, you are choosing to connect with over 90 million people in 14 different countries. ⁸

Additionally, learning to speak Italian can give you an advantage in the international job market. 

• Large demand in the U.S. for Italian translators in the business setting
• Because Italian is not just spoken in Italy, one could also find job opportunities in other countries such as Switzerland
• Also spoken in parts of Africa, Latin America, Asia, Australia, the Balkans, and around the Mediterranean. Interestingly, it is the fourth language most spoken in US homes, according to the US Census Bureau, which makes its study in the US even more relevant and useful. ⁹
• Enhanced business partnerships and relationships through an understanding of Italy’s culture, which can only be truly understood by mastering its language 

Important Links

• Class Schedule
• SDSU Catalog 
• Academic Calendar