Italians spend £5 billion a year on fortune tellers and astrology

Italians spend £5 billion a year on fortune tellers and astrology
Italy's worst recession since the Second World War has prompted Italians to spend a staggering £5 billion a year seeking financial advice not from banks and brokers but fortune tellers and astrologers.

By Nick Squires in Rome

12:59PM GMT 07 Feb 2010

Superstition is widespread in Italy. Many people use centuries-old hand gestures to ward off evil and believe that plaster statues of Jesus and Mary can weep blood.
Italians spend £5 billion a year on fortune telling and astrology
Italians are spending £5 billion a year on fortune telling and astrology

Amid rising unemployment and general gloom over the state of the economy, Italians are spending billions of euros a year on astrology and fortune telling, according to a report by the European Consumers Association.

Tarot card readers and pavement fortune tellers are doing a roaring trade, with about 30,000 Italians paying between 20 and 600 euros a day looking for advice to help them out of their financial woes.

"Italians are very susceptible to trying their luck on anything esoteric and they're extremely superstitious," said Carlo Climati, who wrote a book on superstitious beliefs.

Southern Italy has a reputation as the most superstitious part of the country but it is the north and centre where most money is spent – a reflection of those regions' wealth compared with the underdeveloped south.

The inhabitants of Lombardy, the region which includes Italy's financial capital Milan, spend the most on fortune tellers and card readers, splashing out 90 million euros a year. Next comes Lazio, the region which encompasses Rome.

Women account for about 53 per cent of those weighing financial decisions on a roll of the dice or the turn of a tarot card, with an average age of 42. Less than 20 per cent have a university education.

The report was produced with research from Telefono Antiplagio, an Italian voluntary service that helps the victims of con artists.

Italian wages are among the lowest in the industrialised world, about 20 per cent below the average for the 30 countries in the Organisation for Economic Cooperation and Development.

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