Economy of Rome

Rome is a major financial, cultural, and business center in the EU and around the world. Though its trade makes up only a small part of global trade, the city plays an important role in Italy's economy.

Rome is home to many big Italian companies and three of the world's largest companies: Enel, Eni, and Telecom Italia. The city also hosts important international organizations such as the International Fund for Agricultural Development (IFAD), World Food Programme (WFP), Food and Agricultural Organization (FAO), and the NATO Defence College. In rankings of global cities, Rome is considered a beta+ world city, similar to Berlin and Montreal, and has been ranked among the top thirty most important cities in the world.

History

Night view of the Trajan's Market which was built by Apollodorus of Damascus

Ancient Rome had lots of land and resources. Its economy was mostly about farming and trade. They grew grapes and olives, and got grain from Egypt, Sicily, and Tunisia. They sold olive oil and wine to other places.

Some thinkers say the Roman Empire worked like modern economies. After the empire fell, Rome was not as important for trade. But it became lively again in the 1500s and 1600s with art and culture. After World War II, Rome grew a lot and became popular in the 1950s and 1960s, making famous movies. The city's population grew until the mid-1980s and then slowly shrank as people moved to the suburbs.

Sectors

Tourism

Main article: Tourism in Rome

The Vatican Museums are the world's 37th most visited tourist destination, with over 4.2 million tourists a year.

Rome is a very popular place for visitors. This is because of its many old buildings, art, and beautiful views. People can see museums, old water systems called aqueducts, fountains, churches, big houses, and old ruins. Rome is the third most visited city in Europe, after London and Paris. Many people visit each year. Famous places like the Colosseum and the Vatican Museums are very popular.

Fashion

Via Condotti, Rome's main upscale shopping street. Seen from the top of the Spanish Steps.

Rome is an important city for fashion. It is the fourth most important fashion center in the world, after Milan, New York City, and Paris. Many famous fashion brands and jewelry shops are in Rome. You can find stores from well-known names like Chanel, Prada, and Armani in the city, especially on a famous street called Via dei Condotti.

Cinema

Entrance to the Cinecittà studios

Rome is home to Cinecittà Studios, the biggest film and TV studio in Europe. Many famous movies have been made there, including Roman Holiday and Ben-Hur. The studio has everything needed to make a movie, from planning to finishing the film. It started in 1937 and has been where many big movies are made.

Commerce, communications and transport

Rome-Fiumicino Airport in 2008 was the sixth busiest airport in Europe.

Rome’s economy is mostly about services, technology, research, and tourism. The city has many offices for big Italian companies and some of the world’s largest corporations. Rome’s main airport, Fiumicino, is the largest in Italy.

Industry

Rome has industry too, mainly in technology, telecommunications, medicine, and food. Most factories are in an area called Tiburtina Valley on the east side of the city. Other important industrial areas are in nearby towns like Aprilia and Pomezia.