Italy is a desirable travel destination with its white, sandy beaches, rolling hills, and rich culture. It’s such an idyllic spot for visiting and living that you may begin to wonder whether Italy is worth investing in so that you can form an closer connection with it. However, if you’re on the fence about parting ways with your hard-earned cash, here are a few of the many reasons why investing in Italy may be worth your while.
You Can Become a Resident
Thanks to the new Italy Golden Visa Program formed in 2018 and made more appealing in 2020, your investment in Italy can allow you to become a resident, even if you don’t live there full-time. The Golden Visa is a residency-by-investment option that comes with a multitude of different benefits. You pay a fixed taxation rate, have no business limitations and can bring your spouse and children with you. What’s more, you only need to make your investment after your Visa application has been approved.
It Has a Strong Economy and Market
When you’re thinking about investing your money somewhere new, you probably consider the market’s strength and how robust the country’s economy is. Fortunately for investors, Italy ticks both boxes. Italy has one of the largest economies in the Eurozone, with a GDP of around two trillion dollars. Even its domestic market is lucrative, with ample domestic job opportunities and lucrative net wealth for the average Italian household.
The Workforce Is Skilled and Affordable
One of the many things that investors look at before putting their money into something new is whether the workforce will be capable of taking care of that investment. Fortunately, Italy’s tertiary education providers are some of the most superior.
According to The World University Rankings, Italian universities rank among some of the best in the world. Annually, around 300,000 students graduate in their chosen fields. Yet, hourly labor costs in Italy are among some of the lowest in the Eurozone. You may be able to benefit from both talented workers and low operational costs.
It Connects Global Markets
If you’re trying to tap into multiple markets at once, Italy can be an ideal place to begin. Not only is it the pivotal entrance point into the European Single Market, but it’s also centrally positioned to the Middle East and Northern Africa. By investing in Italy and its economy, you’re also in a prime position to access a multitude of different transportation network options, like motorways, railways, and ports, for your products.
It Doesn’t Shy Away From Foreign Investment
Not every country is open to the idea of foreign investment, but Italy is. This European country understands the importance of multinational companies and what they bring to the table, such as employment for over 11% of its entire workforce. Foreign affiliates also produce at least 20% of the domestic turnover.
Even if you’re only visiting Italy for a holiday, it may not take much for you to fall in love with the scenery and lifestyle. If you’ve been thinking about investing in a business venture, a startup, or government bonds, consider whether Italy provides all the benefits you’ve been looking for.