Milan, Monza Brianza and Lodi, economy growing by 4.7% in 2022

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A healthy economy, despite the many uncertainties due to the effects of inflation, on the one hand, and geopolitical tensions on the other. According to the «Productive Milano» annual report, produced by the statistics and planning study service of the Milan Monza Brianza Lodi Chamber of Commerce, in 2022 the economy of the three Lombard provinces grew by 4.7%, led by Milan (+5% the increase in added value), followed by Lodi (+3.8%) and Monza Brianza (+2.9%).

The push given by the construction (+9.1%) and services (+5.4%) sectors was decisive for the achievement of these results, which contributed to the territory recording a surplus of 11 billion euro compared to the pre-pandemic situation. Even the entrepreneurial fabric resists uncertainties.

Growth in the number of companies above the average

Thanks to the decisive contribution of Milan, the balance between new registrations (30,630) and cancellations (21,618) was 9,012 more companies, corresponding to a growth of 1.9%, higher than the national average (+0.8%) and also in Lombardy (+1.2%). All this translates into almost 390,000 companies operating in the three territories.

The economic and geopolitical uncertainties, combined with the slowdown in world trade observed in the first three months of 2023, allow us to forecast a slowdown in growth for the current year and for the next, without however reversing the positive trend: for 2023 estimates an increase in added value (+1.1%), driven by services (+1.3%) and construction (+2.4%), which will offset the expected decline for industry (-0.2% ) and agriculture (-1.9%). In 2024 forecasts indicate a slowdown in the growth of the added value of the three territories (+0.8%), which will also be reflected in the individual areas: the metropolitan city of Milan (+0.9%), the province of Lodi (+ 0.8%) and Monza Brianza (+0.3%).

The challenges for the future

«This year is marked by greater uncertainty and a more evident cooling of the economy, even if the number of our businesses continues to grow – confirms the president of the Milan-Monza Brianza-Lodi Chamber of Commerce, Carlo Sangalli -. In particular, innovative start-ups are on the rise and are proving to be very resistant to the crises and tensions of recent years. On the tourism front, the greater Milan is producing numbers that go beyond forecasts and could set new records, preparing the way for the 2026 Winter Olympics in the best possible way”.