Road accidents make a major impact on Italy’s GDP

Figures now available from Italy’s transport and logistics commission have highlighted the enormous cost of road accidents in the country. The data reveals that the social cost of road accidents in the country is around €30 billion, or 2% of Italy’s GDP. The country’s road accident rate is higher than many other EU countries, despite having the strictest set of regulations. Italy also suffers from insufficient road infrastructure in comparison with the number of registered vehicles. Accidents in the road tr
April 3, 2012 Read time: 1 min
Figures now available from Italy’s transport and logistics commission have highlighted the enormous cost of road accidents in the country. The data reveals that the social cost of road accidents in the country is around €30 billion, or 2% of Italy’s GDP. The country’s road accident rate is higher than many other EU countries, despite having the strictest set of regulations. Italy also suffers from insufficient road infrastructure in comparison with the number of registered vehicles. Accidents in the road transport sector cost some €2.1 billion, and equate to 6.9% of road accidents. Given Italy’s struggling economy and massive debt mountain, it is worth noting that the cost of road crashes places such a huge and unnecessary burden on its finances.

Related Content

  • Safety improvements in developed nations
    August 20, 2013
    At a time when road safety is posing a significant threat to both human health and economic development around the world, it is worth noting that in many developed nations the situation is improving. The United Nations has identified road safety as a major problem and established its Decade of Action for Road Safety for the 2010-2020 period, in a bid to cut the growing death toll. But while developing nations are seeing a vast growth in vehicle numbers and road fatalities, the improving road safety situ
    Read More
  • Sri Lanka is suffering a worrying increase in road accidents and road related fatalities
    April 19, 2012
    The latest data from Sri Lanka reveals a massive rise in road accidents and the deaths. Finding the root cause is not straightforward however and may be many complex causes for this scenario. Key factors have been identified by local experts however and these include reckless driving without adequate road discipline, the absence of an effective procedure for issuing driving licenses and a lack of any training procedures for drivers as well as other road users. Other key problems include deficiencies in the
    Read More
  • Kazakhstan’s London road show woos consortia for Almaty ring road
    March 2, 2015
    Kazak and EBRD officials visited London to highlight the possibility of a public-private partnership under the country’s revised PPP legal framework. David Arminas reports. To build a road, you go on the road, and that is what Kazakhstan did in London in mid-December. Representatives of more than 100 organisations, a mix of construction companies and financial institutions, attended the roadshow-style presentation to attract foreign capital for BAKAD, the Almaty Ring Road Concession. The message was that Ka
    Read More
  • Buyer's market for equipment?
    April 26, 2012
    The latest data available shows that Europe’s construction market is still suffering turbulence from economic issues. The construction sectors in Greece, Portugal, Italy, Spain and Ireland have all been particularly hard hit, due to a combined effect of high public debt and speculation, built-up during the pre-2008 boom years. This has caused the construction markets of these countries to break apart. Figures from the European Construction Industry Federation (FIEC) show that overall, European construction
    Read More

Highlighted Content