Business, Ema Milano – Impressive economic strength
Milan is not only the economic capital of Italy but also one of the leading European and international cities in term of Gross Domestic Product (GDP). In 2016 the Milan metropolitan area had a GDP of €153 billion (higher than the GDP of 11 other EU countries and accounting for 12% of Italy’s GDP) while the Milan regional area (Lombardy) had a GDP of €359 billion (roughly a quarter of the country’s total and higher than that of 17 other EU countries). Career opportunities are widely available, especially for skilled international workers like EMA staff’s family members or partners.
Milan is a leader many industries.
Among these are:
Financial and Banking Services
Milan is home to Borsa Italiana, one of the biggest European financial markets, accounting for almost 10% of Italy’s financial sector and employing over 10,000 experts. Nearly 200 banks are located in Milan and over 40 foreign banks have branches in the city, accounting for the 84.2% of foreign banks located in the country.
Design and Fashion
542 companies in the Milan area produce 61% of Italy’s turnover in the design industry, while the fashion sector alone counts more than 12,000 companies, 800 showrooms and 6,000 outlets. 17 specialist institutions and 13 major international fairs dedicated to fashion and design, such as the Salone Internazionale del Mobile and Milan Fashion Week, make Milan a world capital of design and fashion.
Four main industrial districts specialising in engineering and mechanics with more than 7,000 companies and 279,377 employees. Overall, the number of registered companies involved in the manufacturing sector is 116,424.
Agrifood and Food Processing
The Milan area ranks among the top producers of traditional products with quality certifications such as PDO (Protected Designation of Origin) and PGI (Protected Geographical Indication). Over 50,000 world-renowned agrifood companies, including Campari, Plasmon, Fernet Branca and Poretti, are based in the area.
Communications & Publishing
Milan is a leading city for publishing, with international media groups as Mondadori, Rizzoli, Feltrinelli, Mediaset and SKY based in the city.
Energy & Renewables
Italy is the 9th largest renewable-energy producer in the world. 40% of Italian green energy companies are located in and around Milan, and almost a third of Italy’s hydroelectric energy is produced in the area.
ICT & Multimedia
Milan is the most connected city in Europe, thanks to the presence of 11,709 specialist communications companies (10% of total Italian ICT enterprises) and its proximity to major technology parks, such as Kilometro Rosso and ComoNext. Nearly 70% of ICT multinationals operating in Italy are based in Milan.
Nearly 3,600 multinational companies – 30% of the foreign corporations operating in Italy – have chosen Milan as their base, employing over 280,000 people and producing a turnover of €170bn. Nestlé, Lactalis, Rekitt Benckiser, Almirall, Shindler Group, Basf, Astrazeneca and Unilever are just few examples of the big corporations based in the city. 400 of the 600 largest foreign companies in Italy are based in Milan.