There are just over 22 foreign companies controlled by Italian companies, they employ almost 1,8 million people, with a turnover of more than 540 billion euros. They are mainly located in Europe and the United States, while the weight of China is not very significant. The Italian subsidiaries abroad are characterized by a relatively large average size, with over 80 employees compared to 3,7 of the companies resident in Italy.
To counter the weakening of domestic demand, during the crisis, the presence abroad of Italian companies increased. Between 2007 and 2013, the number of companies grew by almost 10%, employees by 25% and turnover by 40%. Foreign companies under Italian control have also managed to increase their ability to generate wealth: turnover per employee rose from 274 to 307, a growth of more than 12%.
The degree of internationalization of the Italian production system, measured by the weight of the activities carried out abroad on the total of those maintained internally, has increased: the employees of foreign subsidiaries are equal to 11% of those of companies resident in Italy. In 2008, this ratio stopped at 8%. The degree of internationalization is higher in manufacturing, with a value above 22%. In the manufacture of motor vehicles, the turnover produced abroad is equal to over 150% of that generated by national companies.
Access to new markets has become the central element in guiding the internationalization of Italian companies: this is indicated by over 80% of companies, both in industry and in services. The advantage in terms of production costs has, however, lost importance. The cost of labor in China has, for example, increased from 2,7 thousand euros per employee per year in 2008 to almost 8 thousand.
Despite the growth of recent years, however, Italy's presence abroad remains limited. The ratio between the stock of total foreign investments made and GDP has reached 25%. In Germany it rises to over 40%, in France it approaches 45%, in Spain it reaches 48%.
