Turin is the economic capital of Italy. As
with most modern economies, the importance of the service
sector has grown considerably in Turin in recent
The city has built on its strong industrial tradition and
has developed a diverse economy. Turin has a long established
automotive industry that continues to play an important role in
the local economy.
Fiat is one of the city's largest employers and several
other companies which operate in the components and car design
sectors, such as SKF, Dayco, Bertone, Italdesign-Giugiaro and
Pininfarina, are resident in Turin.
Other industries with a strong presence include
electronics, engineering, food, printing and publishing, steel,
textiles, and rubber.
The city's service sector is flourishing and Turin plays
host to prominent companies in the banking, insurance and ICT
sectors. Italy's most important bank, Istituto Bancario San
Paolo, has its headquarters in Turin and the second largest
savings bank, CRT bank also operates in the city.
Turin is also home to the Banca Popolare di Novara and three
of Italy's top insurance companies, Sai, Toro and Reale Mutua
Assicurazioni. The headquarters of Stet-Telecom Italia, the
world's sixth largest telecommunications company, are also
located in the city.
Some of the Turin's largest companies in the agricultural
sector include the coffee producer Lavazza Ltd, and wine and
spirit producers such as Cinzano, Martini & Rossi and
The Piedmont region is one of the richest in the EU and
boasts a strong tradition for excellent food and wine, together
with a vast artistic and cultural heritage.
As a result, this part of Italy is a pleasant place in which
to live and work. The region also benefits from picturesque
mountains, offering first class skiing facilities, beautiful
nature reserves and lakes and is less than 1 hour away from the