The value of our heritage in terms of culture, architecture, food and wine, traditions and identity.
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 “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.
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:
businesses (31% of the total)
turnover of design-driven businesses (46% of total annual revenue)
GDP generated in terms of added value
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.