The World Bank certifies a result that marks history: in 2024, the Italian per capita GDP reached 60,847 dollars, surpassing the 60,620 dollars of the United Kingdom. The last record dated back to 2001: after more than two decades, Italy thus returns ahead of London in the individual wealth ranking.

Demography, the real engine

While the effects of economic measures – from the reduction of the tax wedge to the Pnrr funds – have an impact, the real decisive factor is demography. Italy, with a declining population, sees its per capita wealth grow more rapidly. Across the Channel, however, the population increase has ended up diluting economic progress.

The Pnrr effect and EU funds

Driving the Italian economy is also the impact of post-pandemic European funds. According to George Buckley, chief economist at Nomura, Italy will record per capita growth higher than that of the UK until 2026, even if the overall GDP will in several cases be higher in London.

Concern in London

The news has not gone unnoticed in the United Kingdom. The Telegraph called it a real "wake-up call" for Prime Minister Keir Starmer, who is urged to give a jolt to British economic policy to reverse the trend.