The
gross domestic product (GDP) of the region was 137.4 billion euros in 2018, accounting for 7.8% of Italy's GDP.
GDP per capita at
purchasing power parity was 31,300 euros or 104% of the EU27 average in the same year. The GDP per employee was 111% of the EU average. Since 2006, the
Piemonte Agency for Investments, Export and Tourism began to facilitate outside investment and promote Piedmont's industry and tourism. It was the first Italian institution to combine the activities being carried out by pre-existing local organizations to promote the territory internationally.
Automotive The region contains major industrial centres, the most important of which is Turin, home to the
Fiat conglomerate, but mass-market Fiat cars are not produced anymore, only small-scale manufacturing of luxury
Maserati cars (36,702 in 2020). Most of the ex-Fiat plants now belong to other companies: aerospace is owned by
Leonardo S.p.A., turbo jet engines by
General Electric, high-speed trains by
Alstom, bearings by
SKF. Fiat no longer exists as an independent company; car production belongs to
Stellantis, and trucks, buses, tractors, agriculture and construction machines are produced by the independent company
CNH Industrial (most manufacturing activity takes place in the
United States, in Piedmont only the production of
New Holland excavators in
San Mauro Torinese and
Iveco diesel engines in
Turin). Neither of them are headquartered in
Turin anymore, however, some research and development centres are still working. Formerly famous automotive design companies also were sold to global automotive groups:
Italdesign Giugiaro to
Volkswagen,
Ghia to
Ford,
Pininfarina to
Mahindra;
Bertone went into bankruptcy in 2014. The massive decline in the automotive industry caused other regions like
Veneto (€163 billion in 2018) and
Emilia-Romagna (€161 billion in 2018) to surpass Piedmont (€137 billion in 2018) in GDP and led to relative high unemployment. The peak of
Italian motor vehicle production is reached in 1989 with 2.22 million units, but in 2019 (before the
COVID-19 pandemic in Italy) it was only 0.92 million units. Even existing Italian car production now relocated to
Southern Italy, such as in
Pomigliano d'Arco (140,478 in 2020),
Melfi (229,848 in 2020), and
Atessa (257,026 in 2020), because of cost cutting. and combed (73.4% in 2018) wool fabrics. These are the only two types of fabrics not dominated by Chinese textile exports. There are three industrial districts that process wool in Italy. One of them,
Biella, is located in Piedmont. Below are shown some basic stages of wool processing (not complete). CSIRO_ScienceImage_2801_Wool_Scouring.jpg|
Scouring Jamieson_wool_Shetland.jpg|
Carding CSIRO_ScienceImage_1852_Machinery_Weaving_Wool.jpg|
Combing CSIRO_ScienceImage_11099_Wool_Weaving_Machinery.jpg|
Weaving Jewellery One of Italy's four industrial jewellery districts is located in
Valenza. Large jewellery companies such as
Damiani,
Bulgari, and
Cartier have factories here as do many other smaller companies. Bulgari-Manufaktur in Valenza, Piemont.jpg|
Bulgari factory in
Valenza Bismarck Necklace (crop).jpg|Cartier:
Bismarck sapphire necklace Cartier 3526707735 f4583fda9a.jpg|Cartier: Mackay emerald and diamond necklace
Agriculture and
Vercelli Lowland Piedmont is a fertile agricultural region. The main agricultural products in Piedmont are
cereals, including
rice, representing more than 10% of national production,
maize,
grapes for
wine-making,
fruit and
milk. With more than 800,000 head of cattle in 2000, livestock production accounts for half of total agricultural production in Piedmont.
Piedmont is one of the great winegrowing regions in Italy. More than half of its of vineyards are registered with
DOC designations. It produces prestigious wines as
Barolo and
Barbaresco from the
Langhe near
Alba, and the
Moscato d'Asti and sparkling
Asti from the vineyards around
Asti. The city of Asti is about east of Turin in the plain of the Tanaro River and is one of the most important centres of
Montferrat, one of the best known Italian wine districts in the world, declared officially on 22 June 2014 a UNESCO World Heritage site. Indigenous grape varieties include
Nebbiolo,
Barbera,
Dolcetto,
Freisa,
Grignolino and
Brachetto.
Tourism Tourism in Piedmont employs 75,534 people and involves 17,367 companies operating in the hospitality and catering sector, with 1,473 hotels and other tourist accommodation. The sector generates a turnover of €2,671 million, 3.3% of the €80,196 million total estimated spending on tourism in Italy. The region is popular with both foreign visitors and those from other parts of Italy. In 2002 there were 2,651,068 total arrivals, 1,124,696 (42%) of whom were foreign. The traditional leading areas for tourism in Piedmont are the Lake District ("Piedmont's riviera"), which accounts for 32.84% of total overnight stays, and the metropolitan area of Turin, which accounts for 26.51%. In 2006, Turin hosted the
XX Olympic Winter Games, and in 2007 it hosted the
XXIII Universiade. Alpine tourism tends to concentrate in a few highly developed stations like
Alagna Valsesia and
Sestriere. Around 1980, the long-distance trail
Grande Traversata delle Alpi (GTA) was created to draw more attention to the variety of remote, sparsely inhabited valleys. Within the tourism industry in Piedmont, a reference to the system of Royal Residences has to be made. First of all, it is part of the UNESCO World Heritage Sites since 1997 and, secondly, it represents a peculiarity of the region, since such a network cannot be found elsewhere in Italy. The Residences of the Royal House of Savoy belong to the historical and cultural heritage of Piedmont and nowadays they play a central role in the tourism field. In a reality in which the tourism industry is characterized by an amalgam of several players and stakeholders, the creation of a system or network like that of the Royal Residences represents an added benefit for the whole territory as well as a competitive edge. Therefore, considering that tourism is a key factor in the creation of long-lasting value and working in a cooperative and collaborative perspective is essential, the network of the Royal Residences represents an example worth of notice. Piedmont has many small and picturesque villages, 20 of them have been selected by (), a non-profit private association of small Italian towns of strong historical and artistic interest, that was founded on the initiative of the Tourism Council of the National Association of Italian Municipalities. These villages are: is one of "
The Most Beautiful Villages in Italy". is one of "
The Most Beautiful Villages in Italy". •
Barolo •
Castagnole delle Lanze •
Cella Monte •
Chianale •
Cocconato •
Garbagna •
Garessio •
Guarene •
Ingria •
Mombaldone •
Monforte d'Alba •
Neive •
Orta San Giulio •
Ostana •
Ricetto di Candelo •
Rosazza •
Usseauso •
Vho •
Vogogna •
Volpedo Unemployment The unemployment rate stood at 6.2% in 2023. ==Transport==