Business Dynamics: Italy

April 2021

Italy’s Ease of Doing Business ranking is improving, but remains far below regional peers. High levels of unemployment and tax rates continue to hamper the nation’s competitiveness. A rigid labour market and an increasing shortage of labour, mainly in the technology sector, are key concerns. Although businesses continue to benefit from a low interest rate environment and relatively low wages, high debt levels pose a threat to its ailing banking sector.

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Overview:

The Country Briefings series examine market potential, economic and consumer trends impacting each country and how they are set to change.

Each Country Briefing covers one of these topics:

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Business Dynamics: A stable and competitive business environment is vital to operate efficiently and attract inward investment. Businesses can assess these factors alongside challenges such as corruption, political instability and terrorism, also gain insight into business operating environment and make strategic investment decisions. Transport infrastructure, ICT readiness and labour force dynamics will also identify potential issues with a supply chain and the level of workforce skills.

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The briefings cover 103 countries and identify topics of crucial interest to planners, marketers and researchers.

Business Dynamics: Italy

HEADLINES

OPERATIONAL AND REGULATORY ENVIRONMENT

High taxes and complicated regulatory environment hinder Italy’s competitiveness

FINANCING AND INVESTMENT

Access to credit hindered by weak financial institutions and high share of bank nonperforming loans

SKILLS AND LABOUR

Comparatively lower higher education attainment rates and rigid labour market point to weaker competitive stance

TRANSPORT AND INFRASTRUCTURE

Excellent cross-border trading conditions and planned investments into transport infrastructure should improve Italy’s competitive stance

DIGITALISATION AND INNOVATION

Lower than regional average ICT adoption and R&D spending limit innovation potential

OPERATIONAL AND LEGAL ENVIRONMENT

Chart 1 Operational and Legal Environment Key Indicators Chart 2 Ease of Doing Business Ranking by Pillar Regional Comparison 2020 Chart 3 Ease of Doing Business Ranking Regional Comparison 2015-2020 Chart 4 Ease of Doing Business Indicators: Time Needed to Start/Close a Business 2020 Chart 5 Ease of Doing Business Indicators: Costs Incurred to Start and Operate a Business 2020 Chart 6 Tax Rates 2020 Chart 7 Insolvency Recovery Rate by Secured Creditors in Italy and Regional Comparison 2020 Chart 8 Global Competitiveness Ranking by Pillar in Italy and Regional Comparison 2019 Chart 9 Global Competitiveness Ranking for Italy and Regional Comparison 2014-2019 Chart 10 Global Competitiveness Index: Macroeconomic Stability Pillar for Italy and Regional Comparison 2014-2019 Chart 11 Index of Economic Freedom Ranking by Pillar in Italy and Regional Comparison 2020 Chart 12 Index of Economic Freedom Ranking Over Time 2015-2020 Chart 13 Index of Economic Freedom: Judicial Effectiveness Pillar Rank in Italy and Regional Comparison 2017-2020 Chart 14 Index of Economic Freedom: Government Integrity Pillar Rank in Italy and Regional Comparison 2015-2020 Chart 15 Number of New Businesses and Annual Real GDP Growth in Italy 2015-2020 Chart 16 New Business Density in Italy Compared to Regional Average 2015-2020 Chart 17 Operational Environment in Italy and Regional Comparison 2019 Chart 18 Corruption Perceptions Ranking: Italy and Regional Comparison 2014-2019

FINANCING AND INVESTMENTS

Chart 19 Key Financial and Investment Indicators Chart 20 Ease of Doing Business Ranking: Getting Credit Pillar for Italy and Regional Comparison 2015-2020 Chart 21 Soundness of Credit Information: Credit Bureau Coverage 2020 Chart 22 Global Competitiveness Ranking: Financial Systems Pillar for Italy and Regional Comparison 2014-2019 Chart 23 Ease of Doing Business Ranking: Protecting Minority Investors Pillar for Italy and Regional Comparison 2015-2020 Chart 24 Index of Economic Freedom: Property Rights Pillar Rank in Italy and Regional Comparison 2015-2020 Chart 25 Number of Companies Admitted to Listing on the Exchange and Market Capitalisation Dynamics 2015-2019 Chart 26 Stock Market Index in Italy and Selected Regional Countries 2015-2020 Chart 27 Stocks Traded as % of GDP in Italy and Selected Regional Economies 2014-2019 Chart 28 Bank Claims on the Private Sector as % of GDP 2015-2020

SKILLS AND LABOUR

Chart 29 Key Skills and Labour Indicators Chart 30 Global Competitiveness Ranking: Skills Pillar for Italy and Regional Comparison 2014-2019 Chart 31 Population Aged 15+ with Higher Education 2015-2020 Chart 32 Education Indicators 2020 Chart 33 Number of University Graduates by Programme 2020 Chart 34 Global Competitiveness Ranking: Labour Market Pillar for Italy and Regional Comparison 2014-2019 Chart 35 Employment by Age 2020 Chart 36 Employment by Gender 2020 Chart 37 Labour Structure Change over 2015-2020 Chart 38 Labour Structure Comparison 2020 Chart 39 Self Employed as % of Total Employed Population 2020 Chart 40 Index of Economic Freedom: Labour Pillar Rank in Italy and Regional Comparison 2015-2020 Chart 41 Wage per Hour in Manufacturing Sector over 2015-2020 Chart 42 Labour Market Regulations in Italy and Regional Comparison Chart 43 Employment by Industry Sector 2020

TRANSPORT AND INFRASTRUCTURE

Chart 44 Key Infrastructure Indicators Chart 45 Logistics Performance Index Scores by Pillar in Italy and Regional Comparison 2020 Chart 46 Logistics Performance Index Ranking for Italy and Regional Comparison 2015-2020 Chart 47 Global Competitiveness Ranking: Product Pillar for Italy and Regional Comparison 2014-2019 Chart 48 Global Competitiveness Ranking: Infrastructure Pillar for Italy and Regional Comparison 2014-2019 Chart 49 Transportation Mode Indicators in Italy and Regional Comparison Chart 50 Road Infrastructure 2020 Chart 51 Ease of Doing Business Ranking: Trading Across Borders Pillar for Italy and Regional Comparison 2015-2020 Chart 52 Transaction Time for Trading Across Borders 2020 Chart 53 Costs of Trade Transactions Across Borders 2020 Chart 54 Global Competitiveness Ranking: Market Size Pillar for Italy and Regional Comparison 2014-2019

DIGITALISATION AND INNOVATION

Chart 55 Innovation and Digitalisation Key Indicators Chart 56 Network Readiness Ranking by Pillar in Italy and Regional Comparison 2020 Chart 57 Network Readiness Ranking for Italy and Regional Comparison 2019-2020 Chart 58 Network Readiness Ranking: Technology Pillar for Italy and Regional Comparison 2019-2020 Chart 59 Global Competitiveness Ranking: ICT Adoption Pillar for Italy and Regional Comparison 2014-2019 Chart 60 Business Digitalisation in Italy 2020 Chart 61 Global Competitiveness Index: Innovation Pillar for Italy and Regional Comparison 2014-2019 Chart 62 Intellectual Property: Italy Compared to Selected Regional Peers

APPENDIX A

The World Bank’s Ease of Doing Business Index (Doing Business) 2020

APPENDIX B

The Global Competitive Index (GCI) 2019

APPENDIX C

The 2020 Index of Economic Freedom

APPENDIX D

The Logistics Performance Index (LPI) 2020

APPENDIX E

The Network Readiness Index (NRI) 2020
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