The 17rd International Architecture Exhibition will take place in Venice from 22 May to 21 November 2021. Banca Ifis is Gold Partner of the Venice Pavilion whose title this year is "Knowing how to use knowledge". In this context, the "Economics of Beauty" project is being promoted for the construction of a model of sustainable innovation that can leverage the role of art, design, culture and the landscape as the distinctive basis of the Made in Italy economy.
The Market Watch «Economics of Beauty» study aims to identify a map of places and actors but also a scientific quantification of the direct and indirect value generated by the Italian cultural, natural and entrepreneurial heritage.
On the basis of the analyzes and numbers, the journalist and writer Emilio Casalini conceived an installation inside the Venice Pavilion to represent the evidence and the weight of this economy in an emotional artistic key.
A territory that develops beauty generates economic, entrepreneurial and social value. This is explained by the Market Watch of Banca Ifis which, for the first time in its history, is the gold partner of the Venice Pavilion on the occasion of the 17th International Architecture Exhibition. From the contamination between two universes, art and finance, an unprecedented project is born: an artistic installation, curated by the journalist-television host Emilio Casalini and exhibited in the Venice Pavilion, which represents the map of the relationships between places, actors and services that make up the Italian ecosystem of beauty. «Banca Ifis believes in culture and art as strategic assets for the country's economic and social growth – explains Ernesto Fürstenberg Fassio, Vice Chairman of Banca Ifis (cover photo) -. The research carried out by our Research Office, which involved important representatives of the Italian beauty ecosystem, highlights the richness of our heritage, not only cultural and landscape but also entrepreneurial. A heritage capable of generating significant economic and social value, to be preserved and supported. The partnership we have signed with the Venice Pavilion is further proof of our support for this sector.".
Even beauty has a tangible and measurable economic value. According to the analysis conducted by the Banca Ifis Research Department, the overall contribution of this item to the Italian GDP, taking the 2019 values as a reference, is equal to 17,2%. The Research Office has examined the three dimensions that make up the ecosystem of Italian beauty: the historical, artistic and cultural heritage, and the naturalistic and landscape heritage; the services connected to them (e.g. transport and hospitality) and the production of the Made in Italy design-driven sectors, i.e. guided by aesthetic-functional logics. The contribution deriving from the use of the cultural and landscape heritage is equal to 6%, including direct use and support services, such as transport and hospitality.
But businesses also produce beauty: there are 341.000 of them, for a total annual turnover of 682 billion euros, and they are active in 8 production sectors (agri-food, automotive and other means of transport, cosmetics, mechanics and other manufacturing, cosmetics, fashion, watchmaking and jewellery, home and artistic crafts), generating 11,2% of the national GDP.
