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Italy A Business Perspective Paper

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Italy: A Business Perspective
When it comes to measuring how well someone or something is doing, the world tends to look at how much money that person or business has. Money can tell a lot about how a company is doing and also how well a country is doing. The economic status of a country is how the rest of the businesses around the world are able to tell if that country is a good one to do business with. Looking at Italy it is easy to tell that they are a developed country on their way to great things if they can get themselves out of the recent recession.
According to the 2015 Index of Economic Freedom, Italy’s economic freedom score is 61.7, making its economy the 80th freest in the 2015 Index. There have been improvements in areas including …show more content…

The United States’ economic freedom score is 76.2, making its economy the 12th freest in the 2015 Index. This is not slowing Italy down though on their quest to a better economic environment. There was a recession that hit Italy from 2010 to 2013 that of course had a negative impact on consumption and investment. According to the Business Owner Toolkit though, growth is expected to return to positive numbers from 2014 on conditioned by reforms.
Sensenbrenner and Arcelli explain that Italy remains a dynamic economy, with a diversified manufacturing sector that is significantly export oriented and highly specialized. Italy today is ranked as one of the highest in terms of net wealth per capita and per household. Although they are already a mature country in economic terms, there is still a strong potential for innovation and development. Like any country, there is always room for improvement and future developments and Italy remains a country with a lot of …show more content…

One of the biggest challenges currently is the unemployment rate in the country. The unemployment rate has been constantly increasing for the past seven years. According to Italy Economic Outlook, in 2013, it reached 12.5%, which is the highest level on record. A high rate like this weakens the Italian labor market and potential in growing in the global competition. Looking at the facts though, it is easy to tell that the economy for Italy looks promising as long as they are able to get their unemployment rate down and focus on becoming more technologically advanced. Maybe one of these days in the future, Italy will be ranked up in the globe for their economic status like the United States

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