The current context of financial participation in Italy
Italian families show a significantly lower participation in the financial markets than those in the United States. According to the CONSOB report, as of June 2024, the ratio between cash and capital market instruments held by Italian families stood at 48%, compared to 60% in the euro area and 17% in the United States. This figure highlights a marked preference for liquidity, suggesting that Italian families tend to keep their savings in cash rather than investing them in financial instruments.
The structural differences between Italy and the United States
The CONSOB report highlights the structural differences between Italian and US financial markets. In the United States, 70% of household financial assets are invested in market instruments, while in Italy this percentage is only 57%. This gap indicates not only a lower risk appetite on the part of Italian investors, but also a lack of perceived opportunities in local financial markets. CONSOB suggests that in order to align the Italian situation with that of the United States, it would be necessary to redirect up to 6,500 billion euros in cash to more productive investments
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The challenges for the future and possible solutions
To improve the participation of Italian families in financial markets, CONSOB proposes various strategies. First, it is essential to increase household disposable income, which could lead to an increase in the savings rate and, consequently, to a greater willingness to invest. In addition, it is essential to promote financial culture, so that investors better understand the benefits of investing in capital markets. Finally, it is necessary to encourage innovation in financial products, making them more accessible and attractive to Italian families
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