With around €10 billion in turnover, 1.3 million employees, and €5.5 billion in exports, wine is proving to be a vital part of the Italian economy—unlike many other sectors—and this year the sector is getting ready to celebrate at the annual Vinitaly fair that opens tomorrow.

This year will be the 51st edition of the main platform for putting Italian wine businesses in contact with foreign operators; the goal, as always, is to help support exports (which are becoming Italian wine's primary outlet more and more with each passing year.)

With a 21% market share, Italy is the second largest exporter of wine in the world, and in 2016 these exports grew by 4.3% (in comparison with the year before.)

Even after such a record-setting year in the foreign markets, the wine sector is still showing a strong potential for international development over the years to come: according to SACE's findings, the entire industry could see exports grow more than €200 million over the 2016-2019 period by working on both its main reference market (the United States) as well as new, emerging markets (like China, Mexico, and India.)

As Giovanni Mantovani, General Manager of Veronafiere, states: “Global demand is changing more significantly than in the past—just think that from 2010 until now, the Italian market in non-EU countries has grown in value by 51%, while the EU's demand over that same period grew by 38%.”

Italy has now become an undeniable point of reference for foreign importers, and it's no mistake that even more of them are coming to Verona from April 9th-12th.

Foreign attendees are expected to grow in comparison with 2016's totals. Last year featured more than 49,000 visitors from 140 countries, with 28,000 registered buyers. The top ten countries in terms of visitors were the United States (6,250 visitors, a 25% growth over 2015's totals,) Germany (+11%,) the United Kingdom (+18%,) France (+29%,) Canada (+30%,) China (+130%,) Japan (+21%,) Northern European countries (+8%,) the Netherlands (+24%,) and Russia (+18%.)

“Vinitaly's focused dedication to bringing in traders is impressive,” states Veronafiere President Maurizio Danese, “their selection took place in 35 countries that the presenters deemed very interesting, in terms of exports.”

Read more at source: Italy Europe 24