Lombardy and Latium electors will cast their vote to elect the respective Governors on February 12 and 13. These elections are critical to Ms. Meloni’s government endurance. Polls assign a victory of the center-right candidates in both regions. These electoral tests will either strengthen or rock Ms. Giorgia Meloni government. An overwhelming victory for her political party, Fratelli d’Italia, will imply a not-so-friendly takeover, which will be at the expense of both the North League and Berlusconi’s’ Forza Italia. While nothing will happen in the immediate aftermath, as customary, this will slowly erode the Premier’s ability to rule.
The two-year record for GDP is the confirmation that economic reforms are working. All forecasts have been wrong in estimating Italy’s economic growth in 2021 and 2022. According to the International Monetary Fund, Italy’s GDP increased by almost 11% over two years (+ 6.7% in 2021 and +3.9% in 2022). Italy’s economy grew more than global GDP in both years (+6.2% and +3.4%, respectively), and more that the average of the advanced countries (+5.3% and +2.7%). While the industrial diversification of Italy’s economy and the SMEs pool that is privately owned, are key success factor (stock capitalization on GDP accounts for by 33% making economy’s forecasts particularly challenging), economic reforms implemented in last 9 years have been critical. Among them, according to the economist Marco Fortis, President of the Edison Foundation, the jobs act, the policy incentivising manufacturing digitisation and the elimination of some bureaucracy that
has boosted productivity.
Expo Roma 2030. Italy has launched its candidacy. On November, 170 countries members of the Bureau International des Expositions will cast their vote.
Last step for the city of Milan candidacy to host the third headquarter of the Unified Patent Court, the body in charge of settling future patent disputes. It will start operating on June 1st. The patent system promises wider European
protection at cheaper prices. The sentences will be effective throughout Europe. The transitional preparation phase will start from March 1st. Less than three weeks remain to understand if Milan will be able to take over from London,. The two other
headquarters are in Parris and Monaco
Bpm, profit over US$ 750 million. Since the beginning of the year, Banco Bpm share has grown by 25%. In 2017 Banco Popolare and BPM merged, creating Banco BPM, Italy’s third largest bank. The board of directors has confirmed a 50% payout, an increase of 21% vs previous year.
In 2023, 62 public listed companies will be called to elect 584 independent directors. While Italy is among the most virtuous countries in Europe for the percentage of women elected as board members (40.8%), the presence of women in the C suite, however, remains an area of improvement: the managing directors at the end of 2021 were 16 and the presidents 31.
The implementation of the Next Generation EU plan will produce an additional 375,000 jobs, 79% in the private sector. These are Banca d’Italia, Italy’s central bank, estimates. The paper analyses the effect on the labor market of the US$ 187 billion allocated by the national plan to new investments.
High-net-worth individuals selected Italy as number one destination for tourism. While Italy has homework to do to attract foreign direct investments, the wealthiest consider Italy as a top destination attracted by the iconic Made in Italy and beautiful locations. According to Bain & Company, a consulting firm, this business is worth US$ 100 billion. Italy offers more that 550 five- star hotels, luxury villas and yachts. Capri, Lake Come, Sicily’s Taormina, Sardinia’s Costa Smeralda and Tuscany’s Versilia worth 80% of the total. Americans were numerous compensating the absence of Russian d Chinese tourists. Pro-capite, the high-end tourist spends US$ 30,000 in accommodation and about the same amount
in shopping. Next summer, more Chinese are expected, according to the report. Italy’s challenge is to attracts millennials and generation Z, the new cluster of wealthy tourists.
