Europe’s Pitch Book: Italy – the resilient Nonna

This is the country that’s known for its lack of productivity growth, multi-decade stagnation, government debt overhang and inability to reform. Why would we include this country in Europe’s Pitchbook – a series intended to make you see Europe’s strengths and opportunities, rather than only the weaknesses and risks? Well, if we can make you think differently here, maybe we can make it anywhere.

The way Italy is typically viewed through an economic lens is so negative and so full of clichés that it deserves another look. In the family, we think of Italy as the Nonna – at the heart of the table, warm and preparing the good food. She is also seen as slow, struggling to keep pace with the times. But we’d like to remind you that the Mediterranean diet has kept Nonna stronger than you might think. So, here’s how we’re going to approach this: we’ll assume you already know enough about the country’s troubles and focus instead on what is going well. Yes, that’s unbalanced. But so is your view of Italy, we dare to say.

Nonna’s at work You know the cliché: Italians are permanently out to lunch, and by August, they’ve disappeared altogether. But the stereotype deserves an update.

Let’s start with hours worked per worker. At some 1,700 hours per worker per year, the country ranks 12th among OECD countries, well above Germany, Switzerland, the Netherlands and the Nordics. Italians do put in the hours, compared to many other European countries.

This story was originally published by Hellenic Shipping News. Read the full story at Hellenic Shipping News →