Are Mountain Areas Attractive for Investments? The Case of the Alpine Provinces in Italy

In the increasing territorial competition to attract productive investments in the age of globalization, mountain areas have a role to play, if they wish to find new (exogenous) resources to diversify their economy and to develop sustainably in the future. This means that they have either to be, or to become attractive. Attractiveness for investments is an issue rarely studied with respect to mountain areas. This paper casts light on the attractiveness of the Italian Alpine provinces, using quantitative and qualitative data coming from a research on the stated locational preferences of entrepreneurs in Italy. According to the findings, it is not said that mountain areas are unattractive, due to their characteristics in terms of physical geography and accessibility. Instead, a different perspective on geography itself (Alpine areas bordering with foreign countries), and the role of the government, can make even marginal areas like mountain areas rather attractive for investments. Therefore, policy-makers should identify and strengthen all possible locational advantages that can strengthen the attractiveness of these areas.