“In Italy over the last decade the difference between the graduates who went abroad and those who returned was 80,000 people,” the chief economist of Italy’s biggest bank Intesa Sanpaolo, Gregorio De Felice, said at the presentation of ‘Look4Ward’, a new observatory on tomorrow’s world of work.

“The sore point in the ‘country system’ is human capital,” he went on, explaining that “in this way the country constantly loses value, it loses its human capital”.

Observing that Italy has the highest percentage of young people not in education, employment or training (NEETs) in Europe, De Felice added that “in Italy the great issue of generational change is very clear.”

Between 2011 and 2021, in fact, De Felice said, “the top managers under 49 diminished by 53 per cent”, while those over 70 rose by 27 per cent.

De Felice added that 45 per cent of Italian firms are unable to find all the workers they need.

ANSA