The brain drain in Italy is costing the country's fashion industry 160 billion euros And yet the situation remains the same

Employment, education, and the future of new generations. These are the themes that shaped the Altagamma Day 2026, held in Rome just yesterday, where institutions and experts gathered to discuss one of the most urgent issues in the country, both in its broader dimensions and in relation to the fashion sector and the Made in Italy supply chain. In fact, according to Istat data on levels of education and labour market participation reported by MF Fashion, young people completely excluded from both education and employment pathways exceed 1.8 million. A wound that becomes even deeper in Southern Italy, where the phenomenon reaches a dramatic 20.2%.

For this reason too, what for years has been defined as the “brain drain” now increasingly resembles a consolidated reality: a loss estimated at around 7.5% of Italy’s GDP, exactly the same value generated by the entire national high-end sector, which employs over two million people. During the event there was also a handover between Matteo Lunelli, outgoing president of the Altagamma Foundation and president of Ferrari Trento, and Giovanna Vitelli, president of Azimut Benetti Group and the new head of the Foundation. The central theme of the day was introduced by director Stefania Lazzaroni, who brought attention to a crucial issue for the country’s future, the very core of the summit.

A desperate situation

The picture that emerged during the conference reflects an Italy significantly behind in the integration of new generations into education and professional pathways. According to Istat data, in the last year 1,748,000 young people aged between 15 and 34 found themselves in a NEET condition (Not in Education, Employment or Training), meaning they are neither studying nor working. This figure corresponds to 14.5% of the Italian youth population and may be the result of an education system perceived as distant from real labour market dynamics and from the skills required by companies. As Lazzaroni stated: “We are suffering from a strong difficulty in the transition between school and work, a structural lack of guidance, a chronic skills mismatch and a territorial gap that is no longer sustainable”.

This can also be seen as part of a growing mistrust towards the education system which, despite its excellence, is often perceived as poorly meritocratic and too slow to adapt to the changes of contemporary society. It is not only about technical or theoretical skills provided during studies, but also about the ability to offer young people a concrete vision of their professional future. Too often, students complete their education with tools that already appear outdated compared to labour market demands.

Education itself has, in many cases, become self defeating: for those who wish to continue their studies by obtaining a bachelor’s or master’s degree, costs represent a significant issue. Between public and private universities, tuition fees, rent, transport and daily expenses, the financial burden increasingly falls on families. State support, although essential, is often insufficient to guarantee decent living conditions for students, especially those forced to move to study.

A high price to pay

Italy currently has 24.2 million employed people, with an employment rate of 62.7%. However, employment growth mainly concerns the over 50 age group, showing how companies tend to prioritise profiles with already consolidated experience. This inevitably penalises entry level roles: if opportunities to enter the labour market are missing, it also becomes impossible to build the experience the market demands. Youth unemployment stands at around 20%, compared to an EU average of 14.7%, with even wider gaps compared to other countries: in Germany the rate is 6.8%, while in Spain it reaches 23.4%.

The gap in higher education is also evident. Only 31.1% of young people aged 25 to 34 hold a university degree, compared to a European average of 44.8%. The employment rate for young people aged 15 to 34 stands at 43%, well below the 58% recorded in the European Union. Even among graduates the gap remains significant: the employment rate is 68% in Italy versus 83.5% in the EU average, and about a quarter of graduates perform low or medium skilled jobs. Adding further complexity is the issue of wages. There is still a widespread belief that, especially in the early stages of a career, salary should be secondary to experience. A narrative that, however, increasingly appears as a justification for unsustainable economic conditions.

In the best-case scenario, the average starting salary in Italy is around 32,000 euros gross per year, equal to about 1,700 euros net per month, among the lowest in Europe. 23.6% of under 29s fall into the category of low-wage earners, and 44% of young people earn less than 1,500 euros net per month. In addition, 28% of under 35s work on fixed-term contracts, a percentage that exceeds 80% in the 15 to 24 age group, revealing how the only effective solution becomes leaving the country. As Lazzaroni reiterated to Milano Finanza: “Between 2011 and 2024, 630,000 young people aged 18 to 34 left Italy. Half of the expatriates aged 25 to 39 are graduates. The estimated cost of human capital flight is 160 billion euros, 7.5% of GDP, exactly the same value as the high-end sector”.

It has long been clear that Italy has a problem. Yet public debate often still reduces the issue to a presumed lack of willingness among young people or to excessive expectations regarding their professional experience. The data tells a different story, that of a generation struggling to find space, stability and prospects within its own country. And while analyses, unfulfilled promises and possible solutions continue to follow one another, one can only wait for words to be followed by action. In the meantime, new generations are left with no choice but to keep claiming their right to a future built on merit, opportunity and dignity at work, in the hope that the Bel Paese will eventually manage to heal a wound that today appears deeper and more painful than ever.