Italy’s Grand Tour continues to fuel the country’s economy, with the latest Banca Ifis report estimating that the Giro d’Italia generates €2.1 billion for local territories along the event route.
The figure was released in an annual study ‘Pedaling Toward Excellence: Giro d’Italia, the Bike Industry and Made in Italy’, which as presented at the second edition of the Bike Business Forum in Florence.
The conference was organised by (Giro d’Italia organiser) RCS Sports & Events in collaboration with ICE – the Italian Trade Agency – and held at the Stazione Leopolda congress venue.
The forum, moderated by Corriere della Sera’s Deputy Editor Daniele Manca, featured remarks from a number of industry and civic leaders, including:
- Raffaello Napoleone, CEO of Pitti Immagine
- Paola Galgani, Deputy Mayor of Florence
- Matteo Zoppas, President of ICE Agency
- Paolo Bellino, CEO of RCS Sports & Events
The economic insights were presented by Carmelo Carbotti, Head of Strategic Marketing at Banca Ifis, with further contributions from Professor Paolo Malighetti of the University of Bergamo and Eric Ezechieli, co-founder of benefit corporation Nativa.
Italian production and exports on the rise
The report cited a strong performance across Italy’s bike industry, with bicycle production reportedly up 17% year-on-year in 2024, led by growth in the e-bike segment. Component exports rose to €480 million, up from €463 million in 2023.
Premium products remain a key strength, particularly in international sport. Italian-made equipment is reportedly used by 90% of teams on the 2025 UCI World Tour. At this year’s Giro d’Italia, 91% of participating teams (21 of 23) are using at least one Italian product – a figure that reaches 100% for the five UCI ProTeams.
Design a competitive advantage
The research also highlighted Italy’s strong export potential, with design cited as one of the top three buying factors in key markets. In Germany, 50% of consumers associate ‘Made in Italy’ with high-end design, while 69% of Italians say the same.
The Giro d’Italia plays a key role in reinforcing this identity. According to the report, 90% of international sports fans say their perception of Made in Italy improved after experiencing the race in some way.
