The value of the ecosystem is close to 600 billion euros
The “Italian beauty economy”, a term that encompasses the sectors of art, culture, landscape, food and wine, design, fashion and cosmetics, is worth 595 billion euros (R$ 3.46 trillion), equal to almost 30% of the national GDP.
2023 was a record year for the area, with growth of 19% compared to the previous year. The data comes from the annual report of the Ifis bank to enhance the entrepreneurial sector which, devoted to beauty and artisanal “know-how”, represents the excellence of Made in Italy.
The good results were mainly driven by the fashion, cosmetics, food and wine and cultural tourism sectors.
The report considered 346 thousand businesses, divided into three sectors: cultural and landscape tourism; “design-driven” in sectors such as agriculture, automotive, fashion and cosmetics; and “purpose-oriented”, characterized by ethics and responsibility.
The ecosystem, therefore, considers not only companies traditionally linked to beauty, but also those in the industrial and production sectors that have the ability to generate a positive social impact.
A survey in the five main reference markets for Italian exports (China, United Kingdom, USA, Germany and France) indicated that 92% of those interviewed are willing to pay more to purchase certified Made in Italy products. The reasons are high quality, attention to detail and elaborate design, as well as tradition. .
Source: Terra
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