There are positive signs inSurvey on savings and financial choices of Italians in 2019. The traditional mid-year event conducted by Intesa Sanpaolo and Centro Einaudi highlights that the income of the middle class is once again strengthening and recovering part of the prosperity lost during the long crisis. In fact, the share of families receiving an income of between 57,5 and 51,7 euros per month rose to 1.500% (from 3.000%).
In investment choices, the first objective of Italians continues to remain security while liquidity maintains second place and long-term returns are in third place. Asset management reaches 15,3% of those interviewed but, above all, over 80% of them declare themselves very or fairly satisfied with the investment.
Finally, 2019 records a record number of homeowners who represent 63% of total assets. Retirement expectations are starting to grow again and the number of insurance policies to cover health risks and in favor of longevity is increasing.
Of course, the economic scenario retains profiles of uncertainty - from stagnating inflation to the trade wars between the US and China - which lead us to forecast a slowdown in global growth estimated at within 3%. Nonetheless, the signs are encouraging, he notes Gregorio De Felice, Intesa Sanpaolo Chief Economist, in presenting the Survey, there is no shortage. And the share of those who claim to have managed to save reached 2019 percent in 52, a peak in the last sixteen years.
“The image that emerges from the study – writes De Felice – is that of a vital, dynamic and proactive Italy, willing to put himself (or get back) into the game relying above all on himself and on his own resources. From this point of view, it is interesting to underline that the wealth of Italian families is much less concentrated than in other countries. In fact, the 10% of the wealthiest Italians hold 42,8% of total net wealth; the same figure in France is 50,6%, in Germany 59,8%, in the United States 79,5%.
To these positive aspects must be added the presence of a very strong nucleus of small and medium-sized enterprises which have been able to successfully withstand the pressure of international competition, ensuring our country a positive trade balance and one of the highest in the world. The recipe for their success is shared: a marked international projection, both with exports and direct productive and commercial investments; an equally strong propensity to innovatevaluing skills and talents. Our studies show that companies that base their competitiveness on these factors grow significantly more than the others and have higher profitability.
The Italian economic system is not in decline. The 2019 Survey confirms that Italy has the antibodies to return to a more sustained growth path: entrepreneurial skills, a good welfare system, a low level of private debt, a large and widespread spirit of initiative, a high (and less unequal than elsewhere) accumulation of family savings".
And so the "optimists" - that is, those who, despite the difficulties of the economy, believed in their own possibilities and invested money and energy to implement a project - are just under 60% in the age group between 24 and 65 years. They earn about 283 more than non-optimists. 57% have renovated their home or other property. Finally, work: 37% have seen their pay increase even if women remain in line with respect to men.
