Comparison of Globalisation Now and Then: Impact on Italian Economic Development, Tourism and Employment

This essay compares globalisation now and then and highlights the impact of globalisation on the Italian economic development, tourism and employment. It also discusses the prospective future in the global evolution.

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Introduction
As there can be found no commonly established definition of globalization, economists
frequently used the term in order to refer to global integration in commodity, economy and
labour markets. However using integration in these markets as a true standard it has been evident
that globalisation is not a recently developed phenomenon. Studies of Mahbubani (2018) have
revealed that since the mid 19th century there has been found at least two significant episodes of
globalisation. The first episode initiated around the mid 19 century and concluded with the
commencement of World War I. However the second chapter had its opening with the
repercussion of World War II and has been ongoing in recent times as well. According to Ritzer
and Dean (2019) in these both significant events of globalization rapid growth as well as output
development has travelled together with major development in the relative size of the financial
systems which have been involved. In the view of Asteriou, Dimelis and Moudatsou (2014)
globalisation has not been a smooth procedure and has frequently been indicated by periods of
accelerated integration as have been witnessed in the 19th century as well as in the second half of
the 20th century along with the periods of dramatic reversals which resulted to valuable
outcomes. The following essay intends to show the comparison of globalisation now and then. In
addition to this the people will highlight the impact of globalisation on the Italian economic
development tourism and employment and its prospective future in the Global evolution.
Discussion
The course of people across various regions has been distinguished as a significant aspect
of the globalisation process in the 19th century. Studies of Baylis, Smith and Owens (2017) have
stated that between 1900 and 1950 over 20 millions of people have migrated from Europe to new
areas of settlements primarily in North and South America Australia as well as New Zealand.

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These flows of migration eventually facilitated the countries to magnetize the rapid intensifying
European labour force which lost its productivity and efficiency in employing people in
European agriculture and thus resulted to the contribution to the major expansion in agricultural
output in newly developed areas of settlement. According to Claval (2016) the interwar period
witnessed immensely constrained migration close to these particular areas of European
settlement. However the situation eventually undergone significant changes in the second half of
the 20th century. Thus it is significant in evoking that period of 1940 which have been
successfully attributed by record population growth. Whilst the global population intensified by
an approximate of 11.5% at an annual rate between 1910 to 1945,the 1950 to 2005 period had
seen an annual population growth of around 1.9% or more than twice which have been witnessed
in the form of period (Ezrow and Hellwig 2014).
Italy has been recognized as the world’s ninth leading financial system whereby its
economic structure primarily has been reliant on services and manufacturing. Studies of Baylis,
Smith and Owens (2017) have revealed that post World War II, Italy undergone a significant
shift in its economic structure. Such a vital shift thus resulted to its transformation from an
agricultural society to one of the highly industrialized economies in the world. Furthermore, in
the view of Ritzer and Dean (2019), the influence concerning the post-war economic
phenomenon reflected to the development of small as well as medium sized enterprises in the
field of export related industries. However, Italy gradually successfully encountered the
dejection in the 1930’s chiefly due to its value as an agricultural state in comparison to the
industrial power of Europe which encountered significant challenges from the Depression that
had its incidence in the 1930’s. Moreover, as per the studies of Claval (2016), Italy in relation to
its financial expansion did not have the spread of industry in order to reinforce the nation’s

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agricultural based financial system. Dutfield (2017) at this juncture have mentioned that while
Germany comprised its industrial supremacy in the Ruhr in addition to Britain comprised its
influence in South Wales, the North-East, Midlands and North-West, Italy on the other hand
considerably comprised of few of these industrial zones. Although creditable in theory,
Mussolini’s tactics aimed for Italy’s economic intensification chiefly based on limitations and
disadvantages which he could not prevail over (Gathmann, Jürges and Reinhold 2015).
During the era of Italy's fascist ruling, which lasted from 1922 until 1943 further to the
end of World War II, substantial number of Italians migrated to various European nations
namely United Kingdom, Germany, and Belgium. Moreover, prior to the economic explosion
occurred in the later phase of the 1950’s, several Italians chose to migrate to Australia, South
Africa as well as Latin America. However, as per the studies of Dutfield (2017), a significant
shift in the Italian financial system emerged with the economic affluence of the late 1960’s and
early 1970’s. During the time, private along with the state-owned enterprises benefitted from the
foreign aid derived from the United States under the Marshall Plan in addition to the
commencement of the European Economic Community (EEC) in order to re-establish the Italian
wealth. However, authors have debunked that regardless of the rising level of scepticism related
to the European Common Market, Italy united as well as economically benefitted from the
highly progressive incorporation of Western European markets (Asteriou, Dimelis and
Moudatsou 2014). The early phase of 1970’s not only witnessed establishment of various small
and medium enterprises along with high prosperity in parts of Northern Italy. These budding
enterprises recognized as the significant force behind economic development as they engaged in
the exportation of machines, engineering goods, and textiles in addition to garments. Meanwhile,
according to Ezrow and Hellwig (2014), southern Italy lingered as an impoverished nation with

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its people primarily migrating north in outsized numbers until the late 1970s. The 1970s
significantly observed greater level of uneven progress with Italy relying heavily on Algerian gas
along with Arab oil provisions, which resulted to the country to be encountered critically by the
oil crises of the 1970s.
Nevertheless in the view of Baylis, Smith and Owens (2017) there has been a significant
deceleration in global population development in the period of 1971 to 2007 where by majority
of this decline have concentrated in the development nations such as Russia and China. However
in several developing regions specifically Africa, the population growth percentage still
remained comparatively high by the historical standards. These elevating percentages of
population growth have failed to align to the corresponding divergences and fluctuations in
economic growth a rate which has further reflected in the intensifying economic instability and
migration pressures (Asteriou, Dimelis and Moudatsou 2014). The well-established immigration
nations of the past namely the United States, New Zealand, Canada and Australia however have
witnessed an elevation in recorded net migrations rate since the early 1990 in comparison with
the three preceding decades. However according to the studies of Baylis, Smith and Owens
(2017) majority proportion of the previously net mass departure nations in western Europe have
developed into immigration countries such as Italy, Spain, Ireland and Portugal with the
implication that an association of18 West European Nations have undergone net immigration
great since the mid 1990’s which have been equivalent to those witnessed in the traditional
immigration nations in the1940’s and 1960s.
Gathmann, Jürges and Reinhold (2015) have stated that the economic-financial
integration in the world commerce data of the Italian exports intensified during the last decade in
nominal value from 211,000 million to 510,000 billion in relation to the average of the European

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Union transitory from the 1980’s with 5.7% to 2000 with over 3.5%. Furthermore specialisation
of Italy with significant case among the European Nations sustainably remained attached towards
the lower middle technological content in the whole sector of the Italian fashion sector.
According to Dutfield (2017) among the developed nations Italy has recently introduced one of
the lowest flows of investments in entrance that is acquisitions of shares from the foreign nations
in Italy. However the flow of foreign financial aid has been accounted to be equivalent in 2002
over 10 million dollars in comparison to the 3.3 middle of the first half of 1990. In addition to
this according to the index of internalization of the economy elaborated by UNCTAD on the
basis of the association among the court of foreign investments in ancient as well as the relative
coach of the financial system of the country in relation to cross inside product employment and
expectation Italy has been observed to undergo a serial recreation during the last decade from an
indexed of 1.12 an index of 0.5 thus positioning itself to the founder of the world classification
(Unctad.org 2019). Studies of Stek (2014) have stated that disparate to the other decades during
the early phase of the 1990 are the competition of Italy has been significantly destabilized. As a
result, associations between public contribution and private contribution to the resource and
development in Italy have been reversed in relation to the European average with exception of
crescent Portugal whereby over 50% of the expanse have been identified to be public and 45%
belong to the Enterprises and the rest to national and foreign sources whereas in terms of the
European level to public association has undertaken it from 38 to around 55% (Ritzer and Dean
2019).
Conclusion
Hence to conclude, from the structural perspective under the profile of the workforce
Italy has been positioned following to Portugal with the lowest incidence of occupied personnel

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in the research and development sector. Italy in terms of globalisation has not been regarded as a
key actor of the phenomenon. It has been noted that the lower part estimated rates of economic
development in this ticket from Italy witnessed declined growth the European average which
signify that the country reimbursed for research and development the lowest levels among all the
development in recent times. However in actual terms during the past decades the economic
integration Italy has grown. Besides, excluding the academic institutions, the employees in Italy
have resulted in the past years in comparison to the significant part of the European nations.

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