Italy working hours

The working hours of Italians are from 9:00 am to 8:00 pm every day, with lunch time from 1:00 noon to 4:00 pm. Banks are only open in the morning; shops are usually open from 9:00 to 14:00, and then from 17:00 to 20:00. This Mediterranean country carries a rich history and culture, and has modern customs and ancient civilizations that complement each other. It is not only the end point of the ancient Silk Road, but also an indispensable and important role in the economic interconnection of the Eurasian continent.

So in addition to traveling to Italy and experiencing the beautiful natural scenery and cultural architecture, various investment projects are also quite attractive.

Renew the forefront of the “Belt and Road Initiative”

The pace of the “Belt and Road Initiative” has gradually moved from Asia to Africa, Europe, Oceania, and Latin America.

Recently, representatives from China and Italy signed the "Memorandum of Understanding on Jointly Promoting the Construction of the "One Belt, One Road"", marking that China-Italy relations will enter a new stage of cooperation.

Italy, whose economy is gradually recovering, has great development potential in logistics, tourism and other fields, and provides various investment incentives to foreign businessmen, is not only an "old friend" of our ancient Silk Road, but also an "old friend" of our ancient Silk Road. They are the "new friends" who have renewed their relationship with us under the opportunity of the "Belt and Road" construction after a thousand years.

Today, we will take you to see how this friend who has created a "thousand-year love" can create sparks with real estate investment.

996? Doesn’t exist

Different from the popular 996 struggle policy in the domestic Internet industry, the INPS chairman said that when talking about the work system, it is necessary to reduce working hours, redistribute wealth, and increase employment while maintaining wages.

In fact, according to survey data, the average weekly working hours in Italy is 33 hours, which is 3 hours more than the EU average of 30 hours. Compared with Germany, working hours are even 7 hours longer. Despite this, the Italian people work an average of 6.6 hours a day, which is enough to make people envious.

The economy continues to recover

Italy consists of the Apennine Peninsula, Sicily and Sardinia, faces the Mediterranean Sea on three sides, and borders France, Switzerland and Austria. It has a land area of ??301,333 square kilometers and a population of 60.8 million.

Since 2013, the Italian economy has returned to a trend of continuous growth. By 2017, Italy's GDP exceeded 1.7 trillion euros, and the annual growth rate reversed from negative growth to 1.5%.

Figure 1 Italian GDP data from 2013 to 2017, source: World Bank, unit: trillion euros

Figure 2 Italian GDP growth rate from 2012 to 2017, source: IFS database< /p>

Bilateral trade continues to grow

Foreign trade is one of Italy's important economic pillars. In 2017, the total import and export volume was US$958.84 billion, and it has maintained a surplus for five consecutive years. Italian products have strong competitiveness internationally and have a full range of export commodities.

Italy is an important economic and trade partner of our country. In 2017, the bilateral trade volume of goods between Italy and my country was US$49.598 billion, a year-on-year increase of 15.1%. In 2018, the total import and export trade between China and Italy reached US$54.2 billion, outperforming Japan, Singapore and the United Kingdom, ranking 24th among various countries and regions. Among them, the export value was US$33.2 billion and the import value was US$21.1 billion. .

Figure 3 Annual growth rate of China’s top 25 countries/regions in total import and export trade (extract), source: General Administration of Customs

Figure 4 China-Italy bilateral relations from 2015 to 2018 Trade development growth rate, source: General Administration of Customs

Key investment industries not to be missed

(1) Logistics industry. The logistics industry accounts for 7% of Italy's GDP, and investment methods include:

Establishing European distribution centers in logistics ports and intermodal transport

Establishing European distribution centers in value-added logistics areas behind the port areas Distribution center

Logistics real estate (real estate)

(2) Tourism industry.

As a world-class tourist destination, Italy has many investment opportunities in the tourism industry:

Hotel development in art towns

Marine tourism projects, including new yachts, cruise ships and seaside open space development

< p>Golf course projects, including mixed golf resorts, etc.

Business conference center development

Development of hotels, sports facilities and other infrastructure for winter outdoor tourism

Hot springs Development of health and wellness projects

Development of high-quality restaurants and special sightseeing itineraries

(3) Information and communication industry. In 2016, the total output value of the Italian communications industry was 31.9 billion euros, with investment focus including cloud computing and green information and communication technology.

(4) Life sciences. Italy is the third largest life science and technology market in Europe. Its pharmaceutical industry and biotechnology are among the best in the world, and it has a complete industrial chain.

(5) Renewable energy. Italy is the fifth largest renewable energy market in the EU, with an annual renewable energy power generation of 83 trillion watt hours. Renewable energy power generation companies that have grown rapidly in recent years are mainly distributed in the solar and wind power industries.

Diversified investment incentives

(1) Development contract. Free funding, government subsidies, interest subsidies and other preferential policies can be provided, mainly targeting industries such as industry, agricultural products, tourism, environmental protection, research and development, and innovation. The minimum investment requirement is €20 million, excluding infrastructure costs. Both foreign-invested enterprises and Italian enterprises can enjoy this preferential policy.

(2) Industry 4.0 plan. Mainly targeted at industries such as digital and information technology, computer technology, data analysis and new materials. Investors can enjoy various preferential measures such as tax exemptions, super depreciation, and patent use.

(3) Research innovation implementation plan. It mainly targets the fields of aerospace, marine economy, energy, intelligent manufacturing, health, environmental protection and sustainable transportation, focusing on R&D, education, training and technological innovation. The Italian government has also specially tailored some preferential policies for small and medium-sized enterprises.

(4) Land policy. Foreign companies enjoy the same treatment as Italian companies in Italy. Foreign companies can freely buy and sell land, and the land is privately owned, as long as it does not violate the laws and regulations on land development and use in Italy.

Guard your overseas investment with an international perspective

As the world's leading real estate service provider, Cushman & Wakefield has its footprints all over the world, providing comprehensive protection for customers' overseas investment strategies. .

In 2017, Cushman & Wakefield's Belt and Road team, together with the East China Consulting Department and the Italian team, provided consulting services for a domestic group in Milan on the overall commercial development planning of the project, including project investment environment analysis; project market Analysis, including commercial, office, residential and hotel markets; project development positioning, development strategy and financial analysis; project investment strategy suggestions, etc.