Italy has long standing tradition and is deeply enriched in culture. For this reason, Italy is considered to be a cultural superpower and the country stands as one of the most visited countries in the world. There is a reason why Italy remains one of the top five countries for tourism. Rich in art, food, and history, people will continue to flock to this vibrant European country. But for many of us who have not had the luxury to visit this fine country, we might tend to recall some of the things we learned about Italy early in its existence. When we think of Italy from the past, we cannot help to think of things such as the Roman Empire and the battles that took place in the Colosseum.
Throughout history, Italy has always been a nation that has been influence by many different civilizations. Influences from civilizations such as the Romans, Etruscans, and Samnites along with foreign civilizations like the Phoenicians and Greek have brought about a diverse culture and had a significant impact on shaping the Country it is today. People have often stated that Italy is made up of small states and kingdoms and that cultural diversity is still present today. Many of the traditions and customs that now recognized as distinctly Italian can be identified by their regions of origin. The architecture alone stays out being one of the more classical countries in the modern-day world. To this day we see Greek ruins throughout southern Italy and this area remain a popular tourist attraction. Beyond the natural beauty that lies within the country’s origin, Italians in particular place high value on such things like trust, religion, and family. Let us not also forget high preference that Italians place in food. When visiting this great country, Italians make it a point to greet tourist with open arms.
But with all this beauty and diverse culture, Italy has seen its share of struggles in history particularly in regard to their economy. Early on Italy suffered from a slow and stagnant growth rate which led to emigration and division. Italy eventually began to flourish for many years and up until the Great Depression Italy economy remained robust and prosperous. Since that time Italy’s growth has remained in limbo.
During the 70s and 80s, Italy found itself in a state of economic turmoil. Unemployment was at its all-time high especially among the younger workforces. Inflation also caused havoc on the already taxed and underperforming economy. This trend continues throughout the early part of the 1980s until a critical set of banking reforms reduced the rate of inflation and Italy once again began to thrive. The export industry leads the way for the Italy’s economic advancement during these times along with small to medium based companies. In turn, in the late 1980s Italy now overtaken the rest of the UK economy and was now becoming the fourth richest nation in the world.
As we look forward, in 2011, Italy was ranked as having the eighth largest economy in the world (Moran, Abramson, Moran. 2014. pp 490.). However, with all the attractions and tourism within the country, Italy remains caught in a seemingly slow economic decline (Moran, Abramson, Moran. 2014. pp 490.). Italy offers businesses a strong infrastructure in sectors such as research and development, Agricultural and trade. Italy must continue to grow these areas if they intend to remain one of the largest economies in Europe. Additionally, the service sector has seen tremendous growth and the tourism industries continues to flourish. The service sector contributes over 70% of the nation’s overall economy. Thus, Italy continues to see an influx of development such as hotels along with an expansive rail system that connects neighboring cities. Italy also takes advantage of an immense coastline offering tourist and outdoor enthusiasts an opportunity to take advantage some of the most beautiful beaches throughout Europe. Being surrounded by the Adriatic and Mediterranean Sea, Italy has the highest number of beaches throughout Europe. No wonder that the service sector within the Italian government is huge part of there economy. Italy will remain a popular destination for years to come even once the pandemic is behind us. Maybe it’s time to start thinking of our next vacation.
References:
Moran, R. T., Abramson, N. R., & Moran, S. V. (2014). In Managing cultural differences (9th ed.). Routledge.
Passport to Trade 2.0. (2019). Business Culture in Italy. Retrieved from https://businessculture.org/southern-europe/business-culture-in-italy/
Sawe, B.E. 29, July 2019. What are the Biggest Industries in Italy? WorldAtlas. Retrieved from: https://www.worldatlas.com/articles/which-are-the-biggest-industries-in-italy.html#:~:text=1%20Tourism%2Sawe0Industry.%20It%20is%20estimated%20that%20tourism,…%204%20Service%20Sector.%20…%205%20Trade.%20
Wilde, Robert. 07, August 2019. A Brief Look at Italy’s History of Division. ThoughtCo, Retrieved from https://www.thoughtco.com/summary-of-italian-history-1221657