Intesa Sanpaolo and the Einaudi Center they presented the2024 edition of the Survey on Savings and Financial Choices of Italians, an in-depth analysis that offers insights into the preferences, concerns and behaviors of Italians About the savings management. The research highlights a growing interest in financial security and liquidity, with particular attention to social security needs, despite a growing disaffection for economic arguments. Among the main points, we highlight a increase in managed savings and decrease in portfolio diversification, with an investment time horizon that is lengthening. Italian families are increasingly directing their resources towards bonds, whose share grows from 28% in 2023 to 34% in 2024, while equity investments are slightly decreasing.
The survey also showed an increase in health insurance subscriptions (from 14% to 17%) and a slight increase in participation in the complementary pension, especially among young people. Overall, 59,4% of respondents said they had spared in the previous twelve months, with notable differences between various demographic groups, such as graduates and entrepreneurs, who save more than the average. average net worth of Italians stands at around 300.000 euros, of which 63% is made up of real estate.
Security and Liquidity: The Priorities of Italians
In 2024, the security continues to dominate the financial choices of Italians. About the 65% of the respondents declares that safety is the most important feature when it comes to investing, a figure that is up from 60% in 2023. This reflects the growing economic uncertainty that is pushing savers to favour solutions that protect their capital. In second place, with about 14% of preferences, we find liquidity, a choice that denotes a persistent caution among investors. Despite the greater interest in security, the Liquidity remains a constant in the investment choices of Italians.
Decline in economic interest
One of the most relevant conclusions of the research is the growing disaffection towards economic arguments and financial. Although there was an increase in interest in 2023, in 2024 30% of respondents declared themselves “not at all interested” on economic issues, a figure that is back to historical values. This decline in general interest is accompanied by a reduction in confidence in one’s financial skills, with less than half of savers considering themselves competent in the matter.
Managed savings, a rapidly growing sector
The investigation has dedicated particular attention to managed savings, underlining the significant growth of the sector. From 2005 to 2023, the Global asset management rose from 73 to 102% of global GDP, with Europe and Italy recording strong increases. In Italy, the share of managed savings varies between 10% and 30% for approximately half of savers, while only 10% invest more than half of their assets in managed instruments. main reasons of investment in managed savings are preparing for retirement and optimizing savings. Despite this, it is clear that there is a untapped growth potential, mainly linked to a poor financial education among the population.
Portfolio Diversification: A Declining Phenomenon
One of the interesting aspects that emerged from the survey is the decrease in diversification in portfolios of Italians. Only 30% of savers have opted for diversified solutions between 2021 and 2024, a figure down from the 40% recorded in 2019. The cause of this decline seems to lie in the growing preference for safer, shorter-term investments, a trend that is also reflected in changes in time preferences. Ten years ago, 65% of Italians invested with a short-term perspective (three years or less), but today this percentage has fallen to 40%, while the percentage of those looking at horizons longer than five to ten years is growing, going from 6% to 19%.
Bonds, Stocks and Real Estate: The Favorite Choices
Le bonds have emerged as one of the favorite choices by Italians, with a growth in their share in portfolios from 28% to 34%. actions, on the other hand, are slightly down, going from 6% to 5,6%. Alternative investments, such as precious metals and ethical and ESG solutions, continue to capture only limited interest. As for the property, they constitute 63% of the average wealth of those interviewed, with a growing percentage of young owners: 60% compared to 49,2% in 2023.
Concerns about the elderly are rising
The survey also highlights the growing concern for financial security in old age. Although 39,5% of respondents consider it preparing for retirement a primary investment objective, the participation in supplementary pension provision remains low. Only less than 20% of those interviewed have subscribed to a form of supplementary pension, although there is an increase among young people. However, there is an increase in membership among young people, a positive signal that could grow with the increase in pension awareness.
