The Number of Foreign Firms in Milan is Growing: +34% in 5 Years

Companies whose owners were born abroad are growing in Italy, especially in Milan are growing. In Italy they are growing by 2% yearly, whereas in Milan they are growing by 3%

foreign firms

According to ANSA, the Italian national wire service, those firms whose owners were born abroad are on the rise in Italy, and especially in Milan; they are growing by 2% and 3% respectively.

According to the relevant data from the Chambers of Commerce in Milan, Monza-Brianza and Lodi, the firms whose owners were not born in Italy grew by 20% at the national level and by 34% in Milan during the last five years.

In Italy, 10% of the overall company is ‘foreign’ (they are about 600 thousand in number, for a total of about one million employees). In Milan, this percentage rises to 16% (50 thousand firms, with 102 thousand employees).

Considering Milan, the foreign country the majority of the entrepreneurs are from is Egypt, having eight thousand registered companies (out of sixteen thousand in the whole of Italy), followed by China with 6 thousand registered companies, Morocco with 3 thousand, and then Romania, Albania and Bangladesh with 3 thousand as well.

The only dissonance in this symphony lies in the fact that the aforementioned growth ratios does not concern firms being established by persons who were born within the EU, but only owners coming from emerging or developing economies.

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Translated by Antonio Enrico Buonocore

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Antonio Enrico Buonocore
Traduttore di lingua inglese ed esperto di fondi europei, crede fermamente che la cultura salverà il mondo. Una parola alla volta, se necessario.