«Invest in Italy» official brochure calls investors to the country, insisting in the chance of having less costs for employees' contracts
by Emanuele Bonini
Can the low level of wage be a reason to feel satisfied? Yes, if you are the chief of the Italian government. Instead of inverting trends giving citizens more economic power, in Italy low salaries are something to be proud of. Something to promote, according to the prime minister Matteo Renzi, whose secretary for Economic development issued an official brochure where the general poverty is described as an attractive business model for investors. «Italy offers a competitive wage level (that grows less than in the rest of EU) and a highly skilled workforce» points out the official brochure. In absolute figures, an engineer in Italy earns an average annual salary of 38,500€, while in other European countries the same profile earns on average over 48,500€ per year. Something to don't miss, according to the Italian authorities, whose aim is to attract investors in the hope of generating new jobs.
The national administration led by Matteo Renzi is at work in order to «make Italy a much better place to do business», stressed the Secretary of State for the Economic development, Ivan Scalfarotto. The Italian Trade Promotion Agency (ITA) offices in Italy and abroad «are able to provide support to investors throughout the project life cycle: from obtaining all relevant authorizations, to identifying any suitable incentive package». According to the Italian authorities a low index in salaries is good incentive to make business in the country.
a series of charts and tables shows the least cost of the Italian national workers compared to other countries of Europe. In case of problem in reading the chats, the official brochure explains that «Italy’s labour costs are well below other peer economies, like Germany and France». In addiction, it is well specified that labour cost growth rates registered in Italy between 2012 and 2014) «are lower than those recorded by Eurozone countries (+1.2% vs. +1.7%)».
The official document is nothing but an own goal. Italy is experiencing a never-ending crisis, with an economic recovery still far to come. Weak domestic consumption contribute to nourish the economic stagnation. In such a context, the right (and perhaps smartest) thing to do would be raising the purchasing power by raising the level of wages, allowing in this way the reactivation of the demand and the national market. But the Italian government prefer other kind of policies. Politics mean to take decisions, but honestly the idea of not bringing wealth to Italians because it is an opportunity sounds like a paradox, and it doesn't appear to be neither good nor wise especially with a Constitutional referendum - scheduled for the 4th of December - already turned in a no-confidence vote against Matteo Renzi and his team.
Can the low level of wage be a reason to feel satisfied? Yes, if you are the chief of the Italian government. Instead of inverting trends giving citizens more economic power, in Italy low salaries are something to be proud of. Something to promote, according to the prime minister Matteo Renzi, whose secretary for Economic development issued an official brochure where the general poverty is described as an attractive business model for investors. «Italy offers a competitive wage level (that grows less than in the rest of EU) and a highly skilled workforce» points out the official brochure. In absolute figures, an engineer in Italy earns an average annual salary of 38,500€, while in other European countries the same profile earns on average over 48,500€ per year. Something to don't miss, according to the Italian authorities, whose aim is to attract investors in the hope of generating new jobs.
The national administration led by Matteo Renzi is at work in order to «make Italy a much better place to do business», stressed the Secretary of State for the Economic development, Ivan Scalfarotto. The Italian Trade Promotion Agency (ITA) offices in Italy and abroad «are able to provide support to investors throughout the project life cycle: from obtaining all relevant authorizations, to identifying any suitable incentive package». According to the Italian authorities a low index in salaries is good incentive to make business in the country.
a series of charts and tables shows the least cost of the Italian national workers compared to other countries of Europe. In case of problem in reading the chats, the official brochure explains that «Italy’s labour costs are well below other peer economies, like Germany and France». In addiction, it is well specified that labour cost growth rates registered in Italy between 2012 and 2014) «are lower than those recorded by Eurozone countries (+1.2% vs. +1.7%)».
The official document is nothing but an own goal. Italy is experiencing a never-ending crisis, with an economic recovery still far to come. Weak domestic consumption contribute to nourish the economic stagnation. In such a context, the right (and perhaps smartest) thing to do would be raising the purchasing power by raising the level of wages, allowing in this way the reactivation of the demand and the national market. But the Italian government prefer other kind of policies. Politics mean to take decisions, but honestly the idea of not bringing wealth to Italians because it is an opportunity sounds like a paradox, and it doesn't appear to be neither good nor wise especially with a Constitutional referendum - scheduled for the 4th of December - already turned in a no-confidence vote against Matteo Renzi and his team.
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