Convince the Italians a invest, at least in part, the ocean of money which is stagnating in our country's current accounts, magnified to record levels by the drop in consumption during the pandemic. This is the main objective of the Savings Fair 2021, scheduled at the Milan Convention Center from Wednesday 15th to Friday 17th September.
According to Bank of Italy data, in the year of Covid Italian families have set aside 126 billion eurosmore than two and a half times the amount set aside in 2019 (47,7 billion). A large part of this money, around 85 billion, has been parked in current accounts. A boom also confirmed by the Italian Banking Association, according to which last May the deposits of Italian private customers had reached the peak of 1.774,6 billion, 135 more than in the same month of 2020.
Now the problem is what to do with this mountain of savings. Keeping them in the bank means making them scratch slowly come on bank management costs and by 'inflation (which is recovering today, but according to the ECB it should still remain low in the medium term).
At the same time, however, many Italians are afraid to invest. And there are two main reasons: first, navigating the different types of financial products is not easy; second, almost two years of the pandemic have spread (and strengthened) a sense of distrust in the stability of the markets.
He answers these questions Thomas Corcos, president of Assogestioni, in an interview with Economy Courier: “To understand the differences between the various products there is consultancy – explains the manager – Relying on a certified expert who illustrates an adequate investment plan is a rational choice. Like going to the doctor or accountant for health and taxes”.
As for the need to mobilize savings, according to Corcos, “the dynamics of inflation, which determines an erosion of all those capitals left standing, opens up new questions. Putting to work from liquidity in excess of that held for understandable prudential purposes means looking to one's future and making those life goals that involve an economic expense achievable".
This year the Salone del Risparmio has more than 10 thousand members and in three days of work it will give space to over 170 brands. They are on the agenda 115 appointments between conferences and training seminars, for a total of approx 350 speakers (including Nobel laureate Joseph Stiglitz). In addition to the topic of mobilizing savings, other topics will also be addressed, such as "the new opportunities of digitization - reads in a statement of the organization – and the role of the industry for fight climate change, to reduce inequalities and for a better development of human capital”. Furthermore, the second Censis-Assogestioni Report on the investment choices of Italians will be presented during the Show.
