Rilasciato il 12 Giugno 2017 / Issued on 12 June 2017
Questo booklet è stato chiuso con le informazioni disponibili al 31 May 2017 This booklet has been draft using information available as of 31st May, 2017 2 Contents
1. Italy and Lombardy: perception and reality 5 • Italian public debt: 132.6% of GDP but only 68% of household net financial assets
• Italian primary surplus: the highest cumulated value
• Explicit and implicit debt: Italy in the top 5 of the EU Sustainability Ranking
• Italian manufacturing export performance 2000-2016
• Italian manufacturing in global rankings
2. Lombardy and Milan: business structure 11 • The leading Italian region: in 2016, 22% of the Italian GDP
• Lombardy in comparison: the leading Italian region in terms of manufacturing gross value added
• 250 manufacturing medium enterprises located in Milan, 1,000 located in Lombardy
• 90 large enterprises in Milan
• Milan the prime location for over 3,000 multinational companies operating in Italy
• Over 12,000 knowledge-intensive startups born in Lombardy (2007-2013)
• Export: Lombardy vs other European regions
• Export: Lombardy’s main trade partners
• Openness to international trade: outdoing German regions…
• … also worth mentioning: the importance of export in percentage of total turnover
3 Contents
3. Lombardy and Milan: strengths 22
• Business R&D investments in Lombardy: in line with German regions
• Research and innovation
• Innovation: the role of Lombardy in Italy
• Strong presence of high-quality public and private research centers
• Universities: high concentration (13) and international attractiveness
• Universities: Politecnico of Milano and Bocconi examples of excellence
• Milan, a driver of Italian creativity
• Labour market: a better performance than the Italian average
• Labour market: high female employment rate
• What makes Lombardy and Milan a knowledge hub?
• Milan S.T.E.A.M. city
4 1. Italy and Lombardy: perception and reality Italy and Lombardy: perception and reality
Italian public debt: 132.6% of GDP but only 68% of household net financial assets
Public debt as percentage of GDP - 2016 Public debt as percentage of household net financial assets (*) - 2015
200 250
200
150 132.6 150 100
100 68 50 50
0 0 FI NL DE AT UK IE FR ES BE PT IT EL NL UK BE DE FR AT IT ES FI IE PT EL
(*) Financial assets held by households include: currency and deposits, securities other than shares, loans, shares and other equity, net equity of households in life insurance reserves, net equity of households in pension funds, prepayments of premiums and reserves against outstanding claims
Source: Tableau de bord Assolombarda Confindustria Milano Monza e Brianza on Eurostat data
6 Italy and Lombardy: perception and reality
Italian primary surplus: the highest cumulated value
Cumulated primary balances (current values – billion euro)
800 600 671 400 374 200 Germany 0 France -200 Italy -278 -400 -428 UK -600 -605 Spain -800
Source: Tableau de bord Assolombarda Confindustria Milano Monza e Brianza on Eurostat data
7 Italy and Lombardy: perception and reality
Explicit and implicit debt: Italy in the top 5 of the EU Sustainability Ranking
EU Sustainability Ranking - 2016 (explicit and implicit debt as % of GDP)
900
Explicit debt Implicit debt 825 788
800 765
700 603
600 549 458
500 432
381 390
400 356
331 337
311
256
272
266 254
300 249
199
179 161
200 147
135
107
109
39 53
62 39 100 0 -100
Source: Tableau de bord Assolombarda Confindustria Milano Monza e Brianza on Stiftung Marktwirtschaft data
8 Italy and Lombardy: perception and reality
Italian manufacturing export performance 2000-2016
Italian manufacturing export (billion euro)
Export record level
395 400 374 374 383 348 351 360 317 323 272 286 277 253 264 260 253
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Source: Tableau de bord Assolombarda Confindustria Milano Monza e Brianza on Istat data
9 Italy and Lombardy: perception and reality
Italian manufacturing in global rankings
Manufacturing trade surplus - 2015 Share of global manufacturing value added - 2015 (US billion dollar) (% on current prices - US dollar)
1,062 28.6%
19.0% 7th th 5 worldwide worldwide 362 202 175 6.5% 6.1% 104 3.0% 3.0% 2.3%
China Germany Korea Japan Italy China USA Japan Germany Korea India Italy
Source: Tableau de bord Assolombarda Confindustria Milano Monza e Brianza on WTO and CSC data
10 2. Lombardy and Milan: business structure Lombardy and Milan: business structure
The leading Italian Region: in 2016, 22% of the Italian GDP
Gross Domestic Product % - 2016 Lombardy Italy Share
Area 23,864 302,073 7.9% (sq. km.) Milan* Population 10,008,349 60,665,551 16.5% Rest of (1/1/2016) 10% Lombardy Italy 22% 78% Workforce 4,673,439 25,769,875 18.1% (thousand, 2016)
GDP 367,420 1,672,432 22.0% (nominal, million euro, 2016)
Value Added 32,004 24,288 - Value Added per capita - 2015 (euro) (per capita, 2015)
Enterprises 807,466 4,359,087 18.5% 44,839 (2014) 32,004 R&D expenditure 4,625 22,291 20.8% 24,288 (million euro, 2014)
Import 114,664 365,579 31.4% (million euro, 2016)
Export 112,199 417,077 26.9% (million euro, 2016) Milan* Lombardy Italy (*) 2014
Source: Tableau de bord Assolombarda Confindustria Milano Monza e Brianza on Istat and Prometeia data
12 Lombardy and Milan: business structure
Lombardy in comparison: the leading Italian Region in terms of manufacturing gross value added
Lombardy workforce by business sector - 2014 Manufacturing gross value added at basic prices by region - 2014 (billion euro)
130 129 Information and communication Manufacturing 3.9% 25.7% Real Estate 63 activities 2.0% 32 31 30 28 23 Other Professional, scientific 37.4% and technical activities 8.4%
Financial and Insurance Trade activities 18.3% 4.2%
Source: Tableau de bord Assolombarda Confindustria Milano Monza e Brianza on Istat and Eurostat data
13 Lombardy and Milan: business structure
250 manufacturing medium enterprises located in Milan, 1,000 located in Lombardy
Number of manufacturing medium enterprises, with 50 to 499 persons employed and a sales volume of 15 to 330 million euro (excluding subsidiaries of large corporations or those under foreign control)
In Milan 7% and in Lombardy 31% of the 3,000* medium enterprises active in Italy
* Italian medium-sized manufacturing companies account for approximately 15% of the domestic manufacturing value added and of Italian exports
Source: Tableau de bord Assolombarda Confindustria Milano Monza e Brianza on Mediobanca – Unioncamere data
14 Lombardy and Milan: business structure
90 large enterprises in Milan
Other 0,9% 3,2% 100% 3,7% 10,3% 3,5% 90% 18,0% 13,5% Finance, insurance and 80% 0,8% 28,9% 33,7% 13,4% real estate 12,2% 4,0% 70% 2,2% 2,6% 9,9% 20,4% Information and 60% 10,4% 11,0% 6,4% communication 4,4% 50% Trade and transport 40% 65,9% 30% 54,8% 55,3% 56,0% 54,3% Construction 20% 10% Manufacturing and 0% energy Stuttgart Munich Lyon Barcelona Milano Numer of enterprises with 20 50 13 37 90 turnover > € 1bn (2014)
Source: Tableau de bord Assolombarda Confindustria Milano Monza e Brianza on Orbis data
15 Lombardy and Milan: business structure
Milan the prime location for over 3,000 multinational companies operating in Italy
Foreign multinational enterprises
Over 3,000 foreign multinational companies located in Milan (34% of those active in Italy) with 289,000 employees and € 169 billion turnover
Source: Tableau de bord Assolombarda Confindustria Milano Monza e Brianza on Milan Chamber of Commerce data
16 Lombardy and Milan: business structure
Over 12,000 knowledge-intensive startups born in Lombardy (2007-2013)
12,121 knowledge-intensive startups - out of 52,675 located in Italy - born in Lombardy (2007-2013)
1.2% Science-based industry 3.2% 2.7% 0.7% 2.6% 7.0% 7.5% 6.9% 7.2% 18.4% 12.0% 9.5% 7.2% Arts, culture and creative 14.7% activities 5.7% 25.5% 25.9% 32.3% 13.5% Machinery and special tools 23.9% 19.5% Engineering & architectural 25.6% 14.9% services and R&D 26.6% 22.7% Software 38.0% 41.6% 31.2% Advisory services 28.2% 24.1%
Baden-Württemberg Bayern Rhône-Alpes Cataluña Lombardy
Source: Tableau de bord Assolombarda Confindustria Milano Monza e Brianza and Politecnico of Milano data
17 Lombardy and Milan: business structure
Export: Lombardy vs other European regions
Export
(billion euro)
196
192
183
181
178
175
173
172
169
166
165
160
154
153
149
144
123
122
112
111
110
108
108
104
104
94
82
65
64
60
59
59
57 57
55 55
55
53 53 53
51
49
49
42 41
Lombardia Baden-W. Bayern Auvergne-Rhône-Alpes Cataluña
2008 2009 2010 2011 2012 2013 2014 2015 2016
Source: Tableau de bord Assolombarda Confindustria Milano Monza e Brianza on Istat, Destatis, Idescat, Douanes et droits indirects data
18 Lombardy and Milan: business structure
Export: Lombardy’s main trade partners
Lombardy’s main trade partners - 2016 Repositioning on extra-EU markets: the case of Milan - 2016 (million euro)
Export % change Export Milan World 2016 2016-2008 50 (billion euro) EU-28 1 Germany 15,140 6.0% 38.5 2 France 11,237 -7.8% 40 35.9 3 USA 8,053 37.0% 30 4 Spain 6,146 -5.0% 45% 60%
5 Switzerland 6,121 22.3% 20 6 United Kingdom 5,248 11.0% 7 China 10 3,608 50.2% 55% 40% 8 Poland 3,078 17.2% 0 9 Netherlands 2,732 4.1% 10 Turkey 2,592 27.0%
Source: Tableau de bord Assolombarda Confindustria Milano Monza e Brianza on Istat data
19 Lombardy and Milan: business structure
Openness to international trade: outdoing German regions …
Manufacturing exporters - 2013 (% of firms)
68.7% 63.2%
52.7% 50.5% 47.3% 45.7% 46.8%
40.7% 38.8% 41.5%
EU
EU
-
-
EU
EU
EU
-
-
-
extra
extra
extra
extra extra
Baden-Württemberg Bayern Rhône-Alpes Cataluña Lombardy
Source: Tableau de bord Assolombarda Confindustria Milano Monza e Brianza on Assolombarda Confindustria Milano Monza e Brianza, The performances of European firms: a benchmark analysis
20 Lombardy and Milan: business structure
… also worth mentioning: the importance of export relative to total turnover
Manufacturing firms’ turnover from export – 2013 (% over total turnover)
39.8%
33.3%
27.6% 25.8% 23.5%
14.1%
12.6% 8.1% 8.9% 12.7%
EU EU EU EU EU
- - - - -
extra extra extra extra extra
Baden-Württemberg Bayern Rhône-Alpes Cataluña Lombardy
Source: Tableau de bord Assolombarda Confindustria Milano Monza e Brianza on Assolombarda Confindustria Milano Monza e Brianza, The performances of European firms: a benchmark analysis
21 3. Lombardy and Milan: strengths Lombardy and Milan: strengths
Business R&D investments in Lombardy: in line with German regions
R&D activity in manufacturing firms – 2011-2013 (% of firms)
53.7%
40.2% 39.2% 39.3%
28.4%
Baden-Württemberg Bayern Rhône-Alpes Cataluña Lombardy
Source: Tableau de bord Assolombarda Confindustria Milano Monza e Brianza on Assolombarda Confindustria Milano Monza e Brianza, The performances of European firms: a benchmark analysis
23 Lombardy and Milan: strengths
Research and innovation
Highly cited scientific articles per million inhabitants Patents per million inhabitants
32 31 549 564 27 470 443 22 23
13 12 11 10 153 152 140 144 8 69 74
2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2007 2015 2007 2015 2007 2015 2007 2015 2007 2015 Baden-W. Bayern Auvergne - Cataluña Lombardy Baden-W. Bayern Rhône- Cataluña Lombardy Rhône- Alpes Alpes
Source: Tableau de bord Assolombarda Confindustria Milano Monza e Brianza on Incites-Thomson Reuters data and EPO
24 Lombardy and Milan: strengths
Innovation: the role of Lombardy in Italy
16% 28% population highly cited scientific articles
\ 28% 35% high-growth patents knowledge-intensive startups
Source: Tableau de bord Assolombarda Confindustria Milano Monza e Brianza on Istat data, Politecnico of Milano, Incites-Thomson Reuters data and EPO
25 Lombardy and Milan: strengths
Strong presence of high-quality public and private research centers
3 sections of the Italian National Institute for universities 13 Nuclear Physics and one European Joint Research Center
1 Institute for Advanced Study
12 CNR (National Research Council) Institutes and 18 territorial 19 Institutes for Treatment and Research sections of CNR Institutes
Source: Tableau de bord Assolombarda Confindustria Milano Monza e Brianza on CNR data
26 Lombardy and Milan: strengths
Universities: high concentration (13) and international attractiveness
In Lombardy
Just under 270,000 university students
of which 12,500 international university students (around 10,000 in Milan) equal to 5% of the total number of students
The equivalent figure is 10% in France 7% in Germany 2% in Spain
Source: Tableau de bord Assolombarda Confindustria Milano Monza e Brianza on Miur, OECD and Assolombarda Confindustria Milano Monza e Brianza data
27 Lombardy and Milan: strengths
Universities: Politecnico of Milano and Bocconi examples of excellence
Engineering and Technology: Ranking by faculty - 2017
Social Sciences and Management: Ranking by faculty - 2017
Bocconi University: 17° (2017) 22° (2016)
Politecnico of Milano: 24° (2017) 24° (2016)
Source: Tableau de bord Assolombarda Confindustria Milano Monza e Brianza on QS Ranking data
28 Lombardy and Milan: strengths
Milan, a driver of Italian creativity
10 Over 4 milion Most popular exhibitions worldwide Theatre audience 28 Museumsmuseum attendance Over 6.5 milion Museum attendance Over 20,000 Theatre shows
Source: Tableau de bord Assolombarda Confindustria Milano Monza e Brianza on Milano Scoreboard 2017
29 Lombardy and Milan: strengths
Labour market: a better performance than the Italian average
Unemployment rate Employment rate
Euro Area Germany Lombardy Italy Euro Area Germany Lombardy Italy 11.7 11.2 74.7 65.5 9.1 10.0 65.5 66.2 7.4 7.7 65.4 63.5 4.1 57.2 4.1 57.6
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 200520062007200820092010201120122013201420152016
Source: Tableau de bord Assolombarda Confindustria Milano Monza e Brianza on Istat and Eurostat data
30 Lombardy and Milan: strengths
Labour market: high female employment rate
Female employment rate
Euro Area Germany Lombardy Italy 70.8 In Lombardy the female employment rate is in line with the 2010 Lisbon targets, thanks to:
59.6 60.3 …more opportunities for women to reach relevant positions/roles in their firms… 55.4 58.1 …diffusion of part-time contracts (25% among working women)… 55.2 …welfare initiatives both by large private 48.1 companies and public institutions (78% of 45.4 municipalities provide childcare services, such as kindergarten). 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Source: Tableau de bord Assolombarda Confindustria Milano Monza e Brianza on Istat and Eurostat data
31 Lombardy and Milan: strengths
What makes Lombardy and Milan a knowledge hub?
The fact that here you find:
• a multi-sectorial economy, with a core manufacturing sector integrated with a highly developed service sector (especially in Milan); • a virtuos network of small and medium enterprises well integrated with large enterprises and multinational companies; • the concentration of 13 long-standing and prestigious universities, closely connected to the entrepreneurial system;
• a strong specialization in knowledge-intensive sectors and the availability of high-skilled human capital.
32 Lombardy and Milan: strengths
Milan S.T.E.A.M. city
STEAM, the acronym of Science, Technology, Engineering & Environment, Arts, Manufacturing Capitale economico
Science Technology Engineering&Environment Arts Manufacturing Capitale scientifico
33 Lombardy and Milan: strengths
Milan S.T.E.A.M. city
The strength of Milan originates from the unique and distinctive blend of four assets:
• dynamic and supportive social capital • rich and diversified economic capital • top-grade scientific capital • widespread “aesthetic” capital, ranging from art to design and to craftsmanship
34 Lombardy and Milan: strengths
Milan S.T.E.A.M. city
STEAM - our vision: 4 enablers, 3 strategic levers and 4 innovation trajectories
4 enablers 4 innovation trajectories • A simple and digital city • Life sciences • A quick and accessible city • Manufacturing 4.0 • Quality human capital • Art, culture e creativity • An inclusive city • Sustainable economy
3 strategic levers • Innovation • Startups • Global outreach
35 www.assolombarda.it www.farvolaremilano.it www.assolombardanews.it @assolombarda Assolombarda company/assolombarda AssolombardaTV @assolombarda