Economy
The Italian economy, which has been in recession since mid-2011, is forecast to grow by 0.1 percent this year and 1.3 percent next year. The World Bank (2013) ranked Italy’s nearly US$2.1 trillion gross domestic product (GDP) ninth in the world. The Legatum Institute ranked Italy forty-fifth out of 142 countries on its Economy Sub-Index (2014).
Italy has a diversified industrial economy with high GDP per capita and well-developed infrastructure. The industrial north is Italy’s economic engine and is dominated by private companies. The less-developed southern economy is based primarily on agriculture. The economy is driven in large part by the manufacture of high-quality consumer goods produced by small- and medium-size businesses, many of them family owned. Italy also has a large underground economy, which accounts for around 17 percent of GDP.
Italy’s closest trade ties are with the other countries of the European Union, accounting for nearly 60 percent of its total exports. Italy’s largest EU trade partners are Germany and France. Exports totaled US$482B and imports US$474B in 2013.
Recession and debt concerns have had a major impact on employment in Italy. The overall unemployment rate is over 12 percent, but unemployment among young people is more than 50 percent. The 0.10 percent inflation rate in the country is the one bright spot in Italy’s economic outlook.
Finding a Job
With an over 12 percent unemployment rate in Italy, job searching will be a challenge for expats. Most employment in the country is in the services sector, which employs nearly two-thirds of all workers. Nearly 30 percent of workers are employed in industrial work. Italy is also a major tourist center, which means many areas of the country have businesses specifically geared toward English-speaking visitors. Whether you are looking for employment or would like to start your own business, tourist areas always represent opportunity for expats.
Job search strategies you can use are similar to the U.S. Industry associations are an excellent way to find out about international opportunities in your field. Check the job listings in local newspapers as well as craigslist. The craigslist link below allows you to search 11 cities throughout the country. Be sure to send unsolicited applications to targeted employers and contact temporary work or staffing agencies online or onsite. Most importantly, check out local online forums and bulletin boards in the area you have chosen. Locals can be a great source of opportunities.
To get you started, here is a list of websites that may help you in your job search:
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