Without migration, and without a reversal in the trend of births, Northern Italy is expected to undergo a demographic 'glaciation' which by 2040, in 17 years, will bring a negative balance compared to the current figure of 2.3 million residents. It will go from 27.4 million inhabitants in 2023 to 25.1 million. The heaviest effects will be seen in Lombardy (-673 thousand), Piedmont (-493 thousand) and Veneto (-387 thousand). Fewer inhabitants will mean a smaller internal market, therefore lower consumption but also lower investments. This is what a study by the Nordest Foundation states, starting from the negative birth rate record recorded in 2023 in the country.
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