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The Economy of Beauty

The Economy of Beauty study encourages us to value the cultural, architectural, natural and manufacturing heritage of Italy that has marked the evolution of our country: from Benedictine monasteries to SMEs in the districts.

The value of our heritage in terms of culture, architecture, food and wine, traditions and identity.

Emilio Casalini, Cultural Designer

These words describe the project presented at the Venice Pavilion of the 17th International Exhibition of Architecture – The Venice Biennial. It was with this in mind that, for its contribution to the exhibition, Banca Ifis carried out market research into the Economy of Beauty, with a view to developing a model of sustainable innovation with art, design, culture and landscape forming the distinctive basis for the Italian economy, offering opportunities for further development on a local level.

The installation

The installation “Economy of Beauty”, curated by Giovanna Zabotti, work created by the artists Marina and Susanna Sent, includes one floor in Murano glass representing the players and the places of the economy of Beauty, and LED rays to make the relations between players and places visible. The video on the wall shows main data and keywords of the research.

Stories

Context

Based on the data of 2019, the contribution of the Economy of Beauty to Italy’s GDP is estimated at 17.2% of the product as a whole. Of this percentage, 6% can be attributed to Italy’s natural, artistic and cultural heritage, and 11.2% to the country’s design-driven manufacturing industry.

There are eight production sectors identified within this context: Agribusiness, Automotive and other means of transport, Mechanics, Other Manufacturing, Cosmetics, Fashion, Watchmaking and Jewellery, Home Systems, Arts and Crafts.

Figures for Beauty in relation to Italy’s design-driven manufacturing system:

341,000

businesses (31% of the total)

682 
billion €

turnover of design-driven businesses (46% of total annual revenue)

11.2
%

GDP generated in terms of added value

Video

The video of Beauty

Dialogues on Beauty - Beauty that evolves

Jacopo Veneziani interviews Stefania Lazzaroni and Carlo Capasa.

Dialogues on beauty - Beauty that attracts

Jacopo Veneziani interviews Andrea Cancellato and Elisa Guidi.

Dialogues on beauty - Beauty as a cultural capital

The writer Jacopo Veneziani interviews Antonio Calabrò and Francesco Zurlo.

The Economy of Beauty - The Market Watch

The Economy of Beauty has its nucleus in the Italian historical, artistic, cultural and landscape heritage.

#BiennaleArchitettura2021

Banca Ifis & Padiglione Venezia: Economy of Beauty

The Market Watch aims to quantify the impact of Beauty through: defining the value of relationships and places where actors meet; the story of three different territorial experiences; and listening to the experiences of the protagonists of the sectors analyzed.

For further information

Find out more on our website.

Market Watch Sustainability