Turin is Italy's fourth largest economic center after Rome, Milan and Naples. In 2004, Turin produced a GDP of 25.439 billion euros, 2.2% of the national figure. The Turin greater metropolitan area produced 44.146 billion euros, 3.8% of the Italian GDP. [1] Turin's taxable income was 12.455 billion euros. [2]
The Province of Turin, is Italy's second largest export market (in terms of value of exports) with a share of 5.2% of the national total.[ citation needed ] Its industries include manufacturing and engineering; production of confectionery and chocolate; and banking and telecommunications. There has also been growth in construction, tourism and service industries.
Founded in 1826, Caffarel (the inventor of gianduja) is the oldest chocolate factory in the world.[ citation needed ]
Other prominent companies in the area include: Fiat, Seat Pagine Gialle, EIAR (now RAI), Olivetti, Lavazza, Cirio, Reale Mutua Assicurazioni, Toro Assicurazioni Lancia, Italdesign Giugiaro, Ghia, Italgas, Bertone, Pininfarina, Martini & Rossi, Seven, Kappa, Superga, Carlo Pignatelli.
National banks with a presence in Turin include Intesa Sanpaolo and UniCredit Group.
In 2006, there were 231,645 businesses registered in the Province of Turin and 112,255 in the city. These numbers represent just under 50% of all those in the Piedmont region and 4% of the Italian total.
There were 21,987 foreign entrepreneurs, with the majority being non-EU. [3]
Difficulties which industry in Turin has faced include a long phase of industrial restructuring; a crisis in Fiat; and transfer of production to developing nations.
Data from 2006 indicated that growth in Italian GDP at that time was due to resumption of exports of cars from the Fiat Group. Associated automotive industries also benefited. Such automotive companies include Iveco, Alfa Romeo, Abarth and Lancia, Pininfarina, Bertone and Giugiaro).
General Motors, while breaking a commercial and productive alliance with Fiat, continued research in the testing of diesel engines.
The automotive components industry has expanded and modernised in response to Fiat's success. There is a network of over 350 companies.[ citation needed ]
The Turin Chamber of Commerce's "From Concept to Car" project, involving 145 companies aimed to promote the excellence of the sector throughout the world. [4]
Beginning in the 1980s, tertiary sector industry in Turin has grown in importance.
Turin hosts the headquarter of the Intesa Sanpaolo banking group, the second largest banking group in Italy measured by market capitalization. [5] 'Fondazione CRT', Reale Mutua Assicurazioni, Alleanza Toro and Fondiaria Sai are also present.
In Turin, there are programs, for example, the 'New Turin Economy Project' working to assist collaboration in the private technology sector. [6] Companies and institutions involved include: Polytechnic Institute Mario Boella, Istituto Galileo Ferraris and the Centro ricerche Fiat (CRF, Fiat Research Center), Torino Wireless and the Ministry of University and Research, TILab (formerly CSELT). There is a concentration of such companies at Environment Park and Virtual Reality & Multi Media Park.
In January 2009, Reply S.p.A. acquired the Motorola research centre in Turin in order to initiate research and development programmes governing Machine to Machine (M2M), the Internet of Things and cloud computing: all innovative technologies based on the exchange of information and interaction between networked devices, for automating mission critical processes.
Already a destination for the Grand Tour , Turin was one of the first Italian cities in history to have a tourist organization; for example, for the three hundred years of the miracle of the SS. Sacramento, the bookseller Giovanni Gaspare Craveri published the Guida de 'forestieri ("Foreigners' guide"). Craveri's guide subdivides the visit of the city in four days and describes in great detail also the surroundings. That of Craveri was followed by other guides, always edited by Turinese people proud of their city; for example in 1781 Onorato Derossi published his Nuova guida per la città di Torino ("New Guide for the city of Turin".)
The 2006 Winter Olympics contributed to Turin's progress after a period of economic doldrums. However, some were not sure of its effect.
In 2008, the Turin area was visited by 5.3 million tourists. [8]
The conversion of large urban areas, previously occupied by factories has contributed to recent economic growth.
Large public works such as Passante Ferroviario di Torino and the metro, have also reshaped the city.
Since 2000, Turin, as a place of origin of Italian cinema has housed the National Museum of Cinema at Mole Antonelliana. In 2008, with 532,196 visitors, it reached the thirteenth most visited place among Italian museums.[ citation needed ]Cineporto, a multipurpose facility dedicated to high-tech film productions and the Lumiq Studios, which produces film, television and advertising.
Piedmont is a region of Northwest Italy, one of the 20 regions of Italy. It borders the Liguria region to the south, the Lombardy and Emilia-Romagna regions to the east, and the Aosta Valley region to the northwest; it also borders Switzerland to the north and France to the west. It has an area of 25,402 km2 (9,808 sq mi) making it the second largest region of Italy after Sicily; as of 31 January 2021, the population was 4,269,714. The capital of Piedmont is Turin, which was also the capital of the Kingdom of Italy from 1861 to 1865.
Gruppo Bertone, commonly known as Bertone, was an Italian industrial design company which specialized in car styling, coachbuilding and manufacturing. It formerly was also a car manufacturing company. Bertone styled cars for Abarth, Alfa Romeo, Aston Martin, BMW, Citroën, Ferrari, FIAT, Iso, Lancia, Lamborghini, Mercedes-Benz, Opel, and Volvo, among others. In addition, the Bertone studio was responsible for two of the later designs of the Lambretta motorscooter.
Marcello Gandini is an Italian car designer, known for his work with the automotive design house Gruppo Bertone, including his designs of the Lamborghini Miura, Countach, and the Lamborghini Diablo.
The Fiat Dino was a front-engine, rear-wheel-drive sports car produced by Fiat from 1966 to 1973. The Dino name refers to the Ferrari Dino V6 engine, produced by Fiat and installed in the cars to achieve the production numbers sufficient for Ferrari to homologate the engine for Formula 2 racing.
Pininfarina S.p.A. is an Italian car design firm and coachbuilder, with headquarters in Cambiano, Turin, Italy. The company was founded by Battista "Pinin" Farina in 1930. On 14 December 2015, the Indian multinational giant Mahindra Group acquired 76.06% of Pininfarina S.p.A. for about €168 million.
The automotive industry in Italy is a quite large employer in the country, it had over 2,131 firms and employed almost 250,000 people in 2006. Italy's automotive industry is best known for its automobile designs and small city cars, sports and supercars. The automotive industry makes a contribution of 8.5% to Italian GDP.
Banca Intesa S.p.A. was an Italian banking group. It was formed in 1998. The next year, the banking group merged with Banca Commerciale Italiana to become IntesaBCi, but the name of the group was reverted to Banca Intesa in 2003. In 2007, Banca Intesa merged with another banking group Sanpaolo IMI to become Intesa Sanpaolo, one of few domestic, systemically important banks of Italy.
Giuseppe Bertone, also called "Nuccio", was an automobile designer and constructor. He took over Carrozzeria Bertone from his father, Giovanni after World War II, growing the small business to a car building and designing powerhouse. After racing Fiat, O.S.C.A., Maserati, and Ferrari, Bertone moved to construction, agreeing to build his first car, a series of 200 MGs, at the 1952 Turin Motor Show. He drew attention at the Paris Motor Show that year with an Abarth concept, and was chosen to design the replacement for the Alfa Romeo Disco Volante. These so-called BAT cars used the Alfa Romeo 1900 Sprint chassis. Bertone is also responsible for designing the famous Lambretta GP/DL range of scooters and the Luna line of scooters.
Sanpaolo IMI S.p.A. was an Italian banking and insurance conglomerate, based in Turin. It employed about 44,000 people and had about 7 million customers.
The Maserati 5000 GT is a 2-door coupé car, made by Italian automobile manufacturer Maserati from 1959–1966. A total of thirty-four were produced with bodies made by eight different Italian coach builders.
Intesa Sanpaolo S.p.A. is an Italian international banking group. It is Italy's largest bank by total assets and the world's 27th largest. It was formed through the merger of Banca Intesa and Sanpaolo IMI in 2007, but has a corporate identity stretching back to its first foundation as Istituto Bancario San Paolo di Torino in 1583.
Tom Tjaarda was an American automobile designer noted for his work on a broad range of automobiles — estimated at over eighty — from exotic sports cars including the Ferrari 365 California, De Tomaso Pantera and Aston Martin Lagonda Coupé to high-volume popular cars including the first generation Ford Fiesta (1972) and the Fiat 124 Spider (1966).
The Turin Motor Show was an auto show held annually in Turin, Italy. The first official show took place between 21 and 24 April 1900, at the Castle of Valentino, becoming a permanent fixture in Turin from 1938 having shared it with Milan and Rome until that time. From 1972, the show was held biannually and in 1984, it moved into Fiat's shuttered Lingotto factory.
Turin is a city and an important business and cultural centre in Northern Italy. It is the capital city of Piedmont and of the Metropolitan City of Turin, and was the first Italian capital from 1861 to 1865. The city is mainly on the western bank of the Po River, below its Susa Valley, and is surrounded by the western Alpine arch and Superga hill. The population of the city proper is 843,514, while the population of the urban area is estimated by Eurostat to be 1.7 million inhabitants. The Turin metropolitan area is estimated by the OECD to have a population of 2.2 million.
Banca Monte Parma was an Italian regional bank, active in the provinces of Parma, Piacenza and Reggio-Emilia. In mid-2015 it was absorbed into the parent company.
Banco di Napoli S.p.A., among the oldest banks in the world, was an Italian banking subsidiary of Intesa Sanpaolo group, as one of the 6 retail brands other than "Intesa Sanpaolo". It was acquired by the Italian banking group Sanpaolo IMI in 2002 and ceased being an independent bank. In February 2018, Intesa Sanpaolo announced their new business plan, which would retire Banco di Napoli and other brands; the legal person of Banco di Napoli would be absorbed into Intesa Sanpaolo S.p.A.
Banca Popolare di Vicenza (BPVi) was an Italian bank and currently a winding-down company. The banking group along was the 15th-largest retail and corporate bank of Italy by total assets at 31 December 2016, according to Mediobanca. However, its sister bank Veneto Banca also ranked 16th in the same ranking, making the whole banking group that under Atlante, had a higher pro-forma total assets than 10th of the same ranking, Crédit Agricole Italia. Due to its size, BPVi and Veneto Banca were both supervised by the European Central Bank directly, instead of the Bank of Italy.
Istituto Bancario San Paolo di Torino S.p.A., commonly known as just San Paolo, was an Italian bank. It was headquartered in Turin, Piedmont. The bank is the predecessor of Sanpaolo IMI, as well as the current largest bank in Italy in terms of total assets, Intesa Sanpaolo. The former owner of San Paolo bank, Compagnia di San Paolo, still significantly owned Intesa Sanpaolo. In 1998 the bank merged with Istituto Mobiliare Italiano to form Sanpaolo IMI.
Torre Littoria, or Grattacielo Reale Mutua, is the first high-rise building in Turin, and one of the most renowned rationalist buildings in Italy. It is located in the city centre, on Via Giovanni Battista Viotti, near Piazza Castello.
The following outline is provided as an overview of and topical guide to Turin:
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