Thanks to a competitive production model that is strongly linked to the Italian production network, Fincantieri generates additional impact on the national economy.
According to a Censis study, the Fifth Report on the Economy of the Sea 2015, every euro invested in shipyards produces a value 4.5 times greater, mostly benefitting the area where it is located, through the involvement of a wide and diverse network of companies, many of which are highly specialized small or medium-sized enterprises. Each cruise ship built by Fincantieri develops on average € 2.7 to € 3.6 billion of business volume for the Italian System:
∼ € 600 to 800 mln
Directly generated by Fincantieri
∼ € 2.1 to 2.8 mld
Additional through stimulation of satellite businesses
With the current record level of order backlog, over the next few years, Fincantieri will have, due to the multiplier effect of its activities, an average annual impact of 1% on the Italian GDP.
The impact on employment can be calculated by initially considering direct employment, that is direct jobs at Fincantieri in Italy, to which first-tier indirect employment is added, that is jobs at Fincantieri contractors, as well as second-tier employment, represented by jobs at sub-contractors. In turn, it is necessary to add to this final employment figure the satellite business jobs due to consumption by the families of all employees.
From the graph it can be seen that:
- the approximately 8,300 direct resources at Fincantieri activate in Italy more than 48,600 employment units in industry (considering contracts and subcontracts) in the manufacturing industry;
- adding to this the induced effect of family consumption, employment exceeds 76,000 units.
Considering both the effects upstream and downstream of its production organization, Fincantieri has a significant employment multiplier effect of about 8.9, confirming the broad impact the Company has on the country's economic system.