Italys Economy Of Italy - 1733 Words

Italy’s Economy Today Italy has the ninth largest economy in the world (â€Å"Economic Forecasts†). This beautiful place is located in the European zone, and its capital is Rome. I have never traveled outside of the United States, and I would love to travel to Europe and explore Italy. As a result, I researched about the economy of Italy. I gathered that it has a stable economy due to the manufacturing and industrial sectors, but it has had some complications in the past years. I also researched about its GDP and retirement plans. First off, Italy relies primarily in the service sector. This is the best way of increasing its economy. The service sector consists of almost three-fourths of Italy’s total GDP (â€Å"Economic Forecasts†). It makes up†¦show more content†¦The tourists spend money on beautiful hotels, shops, restaurants, and much more. Italy’s landscape brings in millions of tourists that increase Italy’s GDP. This all leaves Italy a little wealthier and increases the country’s economy. Around forty million tourists visit Italy yearly, making tourism a great contributor to Italy’s economy (â€Å"Maurizio Russo: Exclusively†). Some of the most toured places are Venice, Genoa, and Rome. Italy is well known for these wonderful places, and they bring in the greatest profit from the tourists. Tourism brings in over thirty billion euros to Italy’s economy, and produces over one million jobs (Pike). Since Italy is such a beautiful country, tou rism is a huge economic factor and contributor. On the other hand, Italy’s economy relays secondly on the industry sector. The manufacturing sector within the industry sector makes up for the other one-fourth of Italy’s total GDP (â€Å"Economic Forecasts†). Twenty-five percent of Italy’s economy is made up of producing manufactured goods (â€Å"Economic Forecasts†). These goods are a main contributor, and they make up a big portion of Italy’s GDP. The economy of Italy is conformed of different size firms, and ninety-three percent are family-owned (Pike). The small and medium firms specialize in a particular part of production. Italy also has large industries that contribute to its economy, and these industries