American universities create 700 million of wealth in Italy (253 million in Tuscany)

The American universities that have a branch in Italy, in which they organize semesters of study for their students, generate significant wealth for the country: it is 697 million euros in 2024, according to estimates just made by an Irpet study (l ‘Institute for economic planning of the Tuscany Region) commissioned by Aacupi, the association of American Universities in Italy led by Fabrizio Ricciardelli, who updated research done ten years ago. The number of jobs created is around 10,600. Most of these 700 million are generated in Lazio (254.8 million) and Tuscany (253 million), the two regions where American university students are concentrated: out of 40 thousand students expected this year, 18 thousand are expected in Tuscany, mainly in Florence but also in Arezzo, Siena, Prato, Cortona, Montepulciano, Sansepolcro.

University investments, student expenses, induced by travel of relatives and friends

The contribution of American universities to the Italian GDP includes the investments of foreign educational institutions, the expenses of students during their stay and the income deriving from the trips of relatives and friends who come to Italy to visit them. “And we have not evaluated the intangible assets – explained Renato Paniccià of Irpet, illustrating the research he carried out with Silvia Duranti and Massimo Donati in Palazzo Vecchio in Florence, in the presence of the University councilor, Elisabetta Meucci – assets represented by that the stay in Italy leaves in the lives and future decisions of the students”.

Enrollments have returned to pre-Covid levels

The evaluation of the economic impact of the American universities present in Italy, 70% private and 30% state, is linked to the recovery of enrollments after the dark phase of Covid when, within a week in spring 2020, Italy saw North American students will totally disappear. 2021 was the year of great fear about the future of ‘Study abroad’ (as education programs abroad are called); in 2022 there was the return of students to Italy, which continued up to 30 thousand in 2023. This year we will return to pre-Covid levels of 40 thousand students, attending 148 American universities. Italy is, together with the United Kingdom, the favorite country for North American university students to study abroad.

Strengthen the presence of American universities in Florence

“The numbers generated by American universities are very important for the national economy and for cities like Florence – said councilor Meucci – which is why we want to strengthen the qualified presence in our territory, facilitating its establishment and development”. A development that the president of Aacupi Ricciardelli is working on, also underlining the jobs created by American universities in Italy: “There are more than 10 thousand workers, mostly to which five thousand are added from related industries”.