Italy champion of sportswear: Europe's leading country in terms of revenue

With a sporting achievement behind us like Jannik Sinner's Wimbledon victory and the 2026 Milan-Cortina Olympics around the corner, sport is undoubtedly a major topic in our country. So much so that, in September 2023, the Chamber of Deputies unanimously approved the amendment to Article 33 of the Constitution, introducing the new paragraph 'The Republic recognises the educational, social and promotional value of sporting activity in all its forms for psychophysical well-being'.

Among the records, perhaps less well known, that Italy boasts in the sector, there is the European leadership in sportswear: according to the report on the Sport&Outdoor industry by Area Studi Mediobanca - which analyses the trend of the sector at world, European and Italian level - Italy has various leaderships. First of all, it is the first European country in terms of revenues: according to data from the European Commission, 22% of the EU turnover generated by sporting goods manufacturing companies comes from Italy, which surpasses Austria (14.8%), Germany (14.7%) and France (12.3%). In addition, it is the leading country exporter of non-EU sporting goods by value (20%) and, in this respect, it is the leader in five segments: gymnastics and athletics articles, sports footwear, shooting guns, water and ski wear and skates; it is the second largest exporter of winter sporting goods and of tennis-related items and the third in the cycling sector.

The evidence emerging from the Mediobanca report, in its first edition, shows that Italy - in a negative European scenario in this respect - is the only country to record a trade surplus: 644 million euro in 2023, the balance between 3,344 million in exports and 2,700 million in imports, an improvement over the 544 million in 2022. The trade balance is even more positive (848 million euro in 2023) if we look at trade with non-European countries. The first customer of sportswear made in Italy is the United States, but according to the analysts of the Mediobanca team, a possible drop in sales due to tariffs could be offset both by alternative outlets abroad and by a domestic market that is not yet completely saturated.

The report analysed 82 Italian companies in the Sport & Outdoor sector, each with a turnover of more than 19 million and a workforce of more than 50, registering an added value equal to 0.15% of the national GDP in 2023 and developing an aggregate turnover of 11,728 million euro (+0.6% on 2022 and +19.2% on 2021), employing almost 50,800 people. The 2024 forecasts indicate an increase in turnover of 0.4% for the largest Italian operators (against +3% expected by the country's largest fashion companies). Expectations for 2025, however, appear cautiously optimistic: the estimated growth in turnover is expected to be around 3%, exceeding EUR 12 billion.