Italy has a population of nearly 58 million people, a GDP of US $1.7 trillion (2005), and ranks as the world's 6th largest economy. Per capita, Italy's GDP is US $30,000, which is comparable to Canada.

Known for its high style and gracious hospitality, Italy has one of the most dynamic economies in Europe. Southern regions of Italy rely on the economic contributions of agriculture, while the more industrialized North focuses on manufacturing and has a rich hospitality industry.

Currently, Italy's economic output is on par with EU partners France and the UK, but economic growth is predicted to develop at a slower rate than its other EU counterparts. A high national deficit budget and high debt are responsible for this low growth. Consumer confidence remains low, although the economy is expected to be fully on its way to recovery by 2007.

Northern Italy has one of the highest incomes per capita in the entire EU. Main Italian markets include Rome, Milan, Naples, Florence and Turin, holding the largest population numbers and high tourist rates.

Italy is Canada's 11th largest export market, and the 10th largest source of imports. Canadian exports to Italy increased to a level of $1.74 billion in 2004, while imports from Italy were $4.57 billion. The stock of total Italian direct investment in Canada in 2004 was $976 million, while the stock of Canadian investment in Italy was $1.4 billion in the same year.

Canada has a small presence in the Italian market, accounting for only 0.6 per cent of Italy's imports in 2002. Because of regulations, high tariffs, and discriminating preferences, Canada has been excluded from the market for Italy's top three agri-food and seafood imports - pork, cigars and cigarettes, and cheese and curd. Canada's top exports currently are wheat, legumes and raw hides. Growth commodities include seafood, pulses, organic products and fur skins.

Italy commands 6% of the global food export market, ranking behind the US, France, Netherlands and Germany, according to a study by Italian national food association Federalimentare.

The study shows that 62% of Italy's food exports are within the EU, with 25% destined for Germany, 13% France and 10% UK, while shipments to North America amount to 17%.

The Innovators is pleased to be working with the Italian Chamber of Commerce in Canada . With their first-hand expertise and business connections, together we can offer what promises to be a truly memorable and valuable tour.