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Italy holidays



Information about Italy

Italy became a nation-state in 1861 when the regional states of the peninsula, along with Sardinia and Sicily, were united under King Victor EMMANUEL II. An era of parliamentary government came to a close in the early 1920s when Benito MUSSOLINI established a Fascist dictatorship. His alliance with Nazi Germany led to Italy's defeat in World War II. A democratic republic replaced the monarchy in 1946 and economic revival followed. Italy is a charter member of NATO and the European Economic Community (EEC). It has been at the forefront of European economic and political unification, joining the Economic and Monetary Union in 1999. Persistent problems include sluggish economic growth, high youth and female unemployment, organized crime, corruption, and economic disparities between southern Italy and the more prosperous north.

Italy's economy

Italy has a diversified industrial economy, which is divided into a developed industrial north, dominated by private companies, and a less-developed, highly subsidized, agricultural south, where unemployment is higher. The Italian economy is driven in large part by the manufacture of high-quality consumer goods produced by small and medium-sized enterprises, many of them family-owned. Italy also has a sizable underground economy, which by some estimates accounts for as much as 17% of GDP. These activities are most common within the agriculture, construction, and service sectors. Italy is the third-largest economy in the euro-zone, but its exceptionally high public debt and structural impediments to growth have rendered it vulnerable to scrutiny by financial markets. Public debt has increased steadily since 2007, topping 133% of GDP in 2013, but investor concerns about Italy and the broader euro-zone crisis eased in 2013, bringing down Italy's borrowing costs on sovereign government debt from euro-era records. The government still faces pressure from investors and European partners to sustain its efforts to address Italy's long-standing structural impediments to growth, such as labor market inefficiencies and widespread tax evasion. In 2013 economic growth and labor market conditions deteriorated, with growth at -1.8% and unemployment rising to 12.4%, with youth unemployment around 40%. Italy's GDP is now 8% below its 2007 pre-crisis level.

Issues in Italy

Italy's long coastline and developed economy entices tens of thousands of illegal immigrants from southeastern Europe and northern Africa Refugees and internally displaced persons: refugees (country of origin): 12,682 (Eritrea); 10,817 (Somalia); 6,695 (Afghanistan) (2013) stateless persons: 470 (2012) Illicit drugs: important gateway for and consumer of Latin American cocaine and Southwest Asian heroin entering the European market; money laundering by organized crime and from smuggling



Prices in Italy (1 EUR = 1.09 USD)
Meal in inexpensive restaurant14.85 EUR
3-course meal in restaurant (for 2)46 EUR
McDonalds meal7.43 EUR
Local beer (0.5 draft)4.43 EUR
Foreign beer (0.33 bottle) 3.89 EUR
Cappuccino1.45 EUR
Pepsi/Coke (0.33 bottle)2.2 EUR
Water (0.33 bottle)1.03 EUR
Milk (1l)1.21 EUR
Fresh bread (500g)1.46 EUR
White Rice (1kg)2.09 EUR
Eggs (12) 2.29 EUR
Local Cheese (1kg) 11.35 EUR
Chicken Breast (1kg) 8.71 EUR
Apples (1kg) 1.78 EUR
Oranges (1kg) 1.63 EUR
Tomato (1kg) 2 EUR
Potato (1kg) 1.31 EUR
Lettuce (1 head) 1.22 EUR
Water (1.5l)0.45 EUR
Bottle of Wine (Mid-Range) 5.53 EUR
Domestic Beer (0.5 bottle)1.4 EUR
Foreign beer (0.33 bottle) 1.4 EUR
Cigarettes4.9 EUR
One way local bus ticket1.47 EUR
Monthly pass for bus38.54 EUR
Taxi start5.53 EUR
Taxi 1km1.46 EUR
Taxi 1hour waiting28.2 EUR
Gasoline (1 liter) 1.89 EUR
Utilities for a "normal" apartment178.23 EUR
Tennis Court Rent (1 Hour on Weekend) 16.25 EUR
Apartment (1 bedroom) in City Centre 562.17 EUR
Apartment (1 bedroom) Outside of Centre 483.29 EUR
Apartment (3 bedrooms) in City Centre 1082.81 EUR
Apartment (3 bedrooms) Outside of Centre 662.67 EUR

Articles about Italy

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