Online giant Amazon plans to invest 500 million euro in Italy, where it wants to build a major logistics center near Rome, which should open its doors next year.
Huge growth margin
The distribution center already takes up 150 million euro from the investment and will provide work for 1,200 people. When finished, it will be Amazon's second logistics center in Italy.
Amazon's investments are a direct reply to the Italian government's new policy as it seeks to promote Italy to the level of other major European economies when it comes to internet use and eCommerce. Italy is Europe's fourth economy, but is very weak when it comes to internet: only half of the Italian families actually has a decent internet connection. Amazon's investment is the largest any foreign internet company has done since Prime Minister Matteo Renzi announced in April he wants to speed up the introduction of high-speed internet in Italy.
Italy's online sales are estimated to be 19 billion euro for 2016, double what it was in 2011.