World Travel Guide

City Guide  - Rome  - Business
Business

Business Profile: Rome's mayor, Francesco Rutelli, elected in 1997, has initiated a major investment programme to maximise the possibilities opened up by tourism and to encourage major national and multinational corporations to have a presence in Rome - the political and administrative centre of Italy. These initiatives are set to counter the negative effects of the Government's decentralisation programme, which could result in a decreasing role for the capital city as a public sector employer. Mergers and acquisitions, combined with the recent, government-initiated privatisation process, add further elements of risk to the local economy. Unemployment in Rome remains lower than the national average, which stood at 10.5% in July 2000, but higher than in the industrial north.

The strength of the economy lies in the service sector, while other significant industries include finance and banking, insurance, printing, publishing and fashion. Italy's film industry (founded in 1936) is located at nearby Cinecittą. The business district is largely clustered within the centro storico - partly because no-one else can afford to pay the high rents. The United Nations Food and Agriculture Organisation (FAO) is based in Rome, as is the World Food Programme (WFP) and the International Centre for the Study of the Preservation and Restoration of Cultural Property (ICCROM).

The year 2000 provided a fine boost to tourism and the economy as a whole. The massive investment programme associated with the celebrations gave new vitality to the construction industry, in decline since the 1970s, and prompted the rationalisation of public transport sector.

Business Etiquette: Although less formal than their Milanese counterparts, business is a serious affair for Romans. Greeting take the form of a handshake (social kissing is reserved for friends and family) and then business cards exchanged. If possible, it is best to have one side printed in Italian and one in English, and all company literature should be provided in Italian. Colleagues should be addressed by their surname, and academic/professional titles respected. Although some of the Italian business community will speak some English or French, Italian is the dominant language of business. It is wise to take the precaution of employing an interpreter, to minimise the degree of misunderstandings.

Appearance counts. It is best to dress in a smart suit (with tie for men and stylish accessories for women). The odd designer label does no harm. Personal relationships are extremely important, and it is unlikely decisions will be made before trust has been established between the two parties. Business lunches provide the ideal opportunity to build relationships and small talk is an essential part of any business meeting. Standard office hours are 0900-1700, with an hour-long lunch break.



Copyright © 2001 Columbus Publishing
    
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