Italy Absent from Global Cultural Investment Rankings

According to the World Cities Culture Finance Report, Paris invests $3.3 billion each year in cultural initiatives, with Moscow and London following at $2.4 billion and $1.6 billion, respectively. The report examines 16 cities, which include Amsterdam, Brussels, Istanbul, Los Angeles, New York, San Francisco, Seoul, Shanghai, Shenzhen, Stockholm, Sydney, Tokyo, and Toronto. Notably, Rome and Milan were not included until 2018 due to inadequate cultural policies. It highlights that local governments contribute over one-third of global cultural funding, whereas cities in the US depend heavily on private sources. Additionally, Italy's cultural public expenditure has decreased from 0.7% of GDP in 2016 to between 0.3% and 0.4%, the lowest rate in Europe. The World Cities Culture Forum is set to take place in Milan in 2020.