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DATA FROM THE GENERAL CONFEDERATION OF ITALIAN INDUSTRY’S REPORT “EXPORTING THE DOLCE VITA” WAS PRESENTED, INCLUDING YACHTING AS ONE OF ITALY’S BELLO E BEN FATTO SECTORS.
The Italian Marine Industry Association took part in the Singapore leg of the Amerigo Vespucci’s world tour, which was also the perfect occasion to present of the 12th edition of Esportare la Dolce Vita (“Exporting the Dolce Vita”), the report produced by the General Confederation of Italian Industry’s Market Research Centre, with the support of Unicredit and in collaboration with Sace, which analyses the potential of the Bello e ben fatto, the hallmark description of Made in Italy quality that translates literally to that which is “Beautiful and Well Made”, across world markets.
BBF (Bello e Ben Fatto) goods include products in the yachting, food, jewellery, fashion and furniture sectors that represent the excellence of Made in Italy manufacturing, standing out for their design, quality and attention to detail.
The respective trade associations of these sectors, the Italian Marine Industry Association (yachting), Federlegno Arredo (furniture), Sistema Moda Italia (fashion), Confindustria Accessori Moda (fashion accessories), Confindustria Federorafi (jewellery) and Federalimentare (food)took part in the round table entitled “Alla scoperta dell’industria della Dolce Vita Italiana: Rapporto sul potenziale dei prodotti italiani bello e ben fatto nel panorama internazionale” (“Discovering the Italian Dolce Vita Industry: A Report on the Potential of Beautiful and Well-made Italian Products on the International Scene”), organised at the Amerigo Vespucci World Tour’s Italy Village established for the historic vessel’s Singapore leg.
From the data presented by the General Confederation of Italian Industry’s Market Research Centre, what emerges is that the BBF segmentincludes 711 product categories and is worth €161.3 billion, representing 26.2% of Italian exports. Furthermore, the product segment also presents a considerable potential for growth: the market shares that can be taken away from competitors with a similar production structure are worth € 174.5 billion. In relation to exports to ASEAN countries, including Singapore, there are wide growth margins to increase the market share of Made in Italy products in the region, with a potential increase for BBF estimated at approximately €1 billion.
“Singapore, a strategic hub for South-East Asia and first market in terms of potential in the ASEAN region, is a key partner for Italy. Eighty percent of the exchange is represented by our exports, which have reached almost €3 billion (+17% in 2023), an indication of the strong appreciation reserved for Italian products,” stated Barbara Cimmino, Vice President for Export and Investment Attraction at the General Confederation of Italian Industry.
Vice President of the Italian Marine Industry Association, Andrea Razeto, during the roundtable commented on how “ production within the yachting sector presents all the typical characteristics of the so-called Bello e Ben Fatto, such as aesthetic refinement, technological research, innovation and sustainability. Italian boats also showcase many products produced Made in Italy – from furniture to components, textile and design elements – becoming, for all intents and purposes, ambassadors of the Made in Italy excellence and production across a great variety of manufacturing sectors, all of which are appreciated worldwide“.
“The Italian yachting industry is an export heavyweight,” commented Stefano Pagani Isnardi, Head of the Italian Marine Industry Association’s Market Intelligence and Research Department. “In 2023, Italian yachting production recorded its most successful year to date, reaching the record figure of €4 billion in exports, up 15.9% compared to an already exceptional 2022. Among the key factors contributing to this export success is the consistent global leadership of Italian superyacht production with an absolute record of 51% of all orders worldwide, a market segment of great interest for the South-East Asia region.“
