Italian economy boosted by strong wine sales

The Italian economy has received a timely boost with the news that the country's winemakers are on course to become the world's top producers of wine.

According to Coldiretti, the representative body of Italian farmers, 4.7 billion litres of wine will have been produced by the end of the year, which is an eight per cent increase on last year's levels.

With France, the world leaders last year, seeing production fall by five per cent in the last 12 months, Italy is expected to seize the top spot.

This will be good news for Italy's economy and it may serve to entice more property investors to expand their portfolios in the Mediterranean country.

"Italy now is the world's biggest exporter by volume, although France remains number one in terms of value, thanks to sales of champagne," Coldiretti spokesperson Domenico Bosco told the Guardian.

"It is not just production that is booming, but also demand, led by amarone, brunello di montalcino, barolo, chianti and also prosecco, which is priced lower than champagne and gets more attractive in times of crisis."

Coldiretti is a front for more than 568,000 farms and was established in 1944.

Visit our off-plan property Italy page

Like this? Then share with your friends and colleagues!