Italian Cultural Export Growth: SACE Report Highlights 23% Service Export Rise

A SACE report on Italian exports reveals that service exports in 2023 are projected to grow 23% compared to 2017, versus 13% for goods. Although the nominal value of service exports (€122 billion) remains far below goods (€510 billion), the trend signals a shift toward a service economy, offering opportunities for Italy's cultural and creative SMEs. Exporting cultural products can enhance visibility and foster export ecosystems, but challenges include intense competition from experienced international players and thin profit margins. Stefano Monti of Monti&Taft emphasizes that boosting net exports requires strategic ingenuity, particularly for firms outside leading regions. The report suggests that cultural export growth could stimulate broader economic benefits beyond soft power.