According to one study, if the italian GDP had grown as much as exports of major italian wines have, today the country would be €500 billion richer
by the Editors
Without doubt, it’s the Ferrari of the Italian food sector. With a growth of 45% in value and 23% in volume from 2008 to 2013, italian wines continue to do well despite the economic crisis. And there is more: if the italian GDP had grown as much in recent years as its wine exports, today the country would be €500 billion richer. Alberto Mattiacci, professor of economics at La Sapienza University in Rome, authored the study on wine exportation done by the italian institute of quality wines, Grandi Marchi.
According to the professor, the numbers of italian exports are “a case of entrepreneurial success”: an increase in terms of quantity but also quality of the product. An “innate and pervasive” boom able to withstand the crisis of 2008 as well as the Euro effect.
The study done for Grandi Marchi – an association which unites 19 important Italian wineries and which from 2004 to 2014 invested around 60 million euros in promoting quality wines – focuses on the production from 2009 to 2013, that is since the Institute has been involved in the projects of OCM Wine Promotion, the European program for financing winegrowers. The results, according to the analysis, reflect incredible spikes like the +562% recorded in Brazil as well as structural growth in global exports equal to 41%. The success is also tangible in market penetration where the major Italian labels have been able to triple the number of Third Countries, which now represent about 90% of the demand for wine outside Europe.
It would appear that these results are the product of managerial decisions which on one hand caused an increase in sales outside the EU – beyond the +562% in Brazil there is the +133% in China and the +88% in Russia – and on the other market consolidation, with an optimum performance in the US (+19%), Canada (+25%), Switzerland (+59%) and Japan (+79%).
For Piero Antinori, president of the Grandi Marchi Institute, “from a qualitative perspective that which distinguishes the Italian wine trade is having begun work on penetrating and taking control of the markets, with help from European funding.” The big Italian businesses, he added, are investing in the markets which are most relevant and have a greater degree of future success and exporting a high-quality product. Because it is only by increasing the quality of the product that value of Italy is increased.