The Italian film renaissance of 2022: a magnet for global investment

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The Italian film renaissance of 2022: a magnet for global investment

In 2022, Italy attracted a large influx of foreign investment in the film and audiovisual industry. International productions invested around €532 million, with a total of 42 films destined for cinema, while for television productions, investments reached €312 million. This success is mainly attributed to the tax credit system and the increasing attractiveness of Italy as a location for foreign productions.

Lucia Borgonzoni, undersecretary at the Ministry of Culture, emphasises the importance of being an 'audiovisual friendly' country that welcomes international productions. The Director General of the MiC's General Directorate for Cinema and Audiovisual anticipates that new criteria for tax credit are being worked on and will open windows for productions already underway.

Despite this boom in foreign investment, the Italian film industry is still facing challenges related to the growth of cinema audiences. Despite a sharp increase since 2021, the numbers are still below the average recorded in the period 2017-2019.

The initiative 'Cinema Revolution,' which offered tickets at bargain prices, helped push the positive figures during the summer months. Despite abundant production, no Italian film is present in the list of the ten most viewed films in the period from June to September. This highlights a significant challenge the Italian film industry faces in attracting domestic audiences.  

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