ROME, Oct. 10 -- Migration will be increasingly essential to Italy's economy and society, considering both the financial contribution of foreign workers and the country's ageing population, according to a report presented here on Wednesday.
Some 5 million regular migrants lived in the country in 2017, and 2.4 million were workers, which increased by 43 percent compared to 2008, the Leone Moressa Foundation said unveiling its "Report on Economy of Immigration" at a conference.
Since 2011, the Venice-based research institute issues the annual study, assessing the implications of migrant population on Italy's economy and social fabric.
GROWING LABOR FORCE
Foreign workers made up 10.5 percent of workforce in 2017 against 9.3 percent in 2017, and contributed at least 8.7 percent of Italy's national gross domestic product, or 130.6 billion euros in value added (150.4 billion U.S. dollars), the report said.
The GDP estimate was based on data by Italy's National Institute of Statistics (ISTAT) in 2016.
At the same time, some 691,303 firms run by immigrants were registered last year, making up 9.2 percent of all businesses.
Foreign-run companies increased by 16.3 percent since 2017, proving more resilient than firms run by Italians, which dropped by 6.4 percent in the same period.
Morocco, China, Romania, Albania, and Bangladesh were the first countries of origin of foreign entrepreneurs, with the highest rise registered among Chinese (26 percent) and Bangladeshi (68.3 percent) between 2017 and 2017.
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