Grateful for the journey, memories, and scenery in Italy!
Name: Noah Parette | Major: Accounting | Semester: Summer 2025
My name is Noah Parette. I am a current graduate accounting student in the Dillard Department of Accounting at the Walton College of Business. In the summer of 2025, I had the great opportunity to travel abroad and get out of my comfort zone. It is a summer that I will remember and experiences I will cherish for the rest of my life. My study abroad program was the IMACC Global Immersion program in the summer may intercession. The experience took place in Italy in Rome and Milan. The program lasted 10 days and consisted of business visits, cultural experiences, and time to get to experience day-to-day Italian living. The program sparked my interest because of the opportunity to delve deeper into the ways people conduct business, regulatory initiatives, and the raising of equity between the United States and Italy.
The business visits consisted of learning sessions with company officers, followed by a presentation that we would give as students. Pre-work was required, and it was an opportunity to gain knowledge about each presentation and grow our perspectives. Most knowability our group visited an Italian regulatory agency, a startup, an economy lab, and a professional services firm. Along with other visits, each provided insights into the Italian culture and the differences in which businesses and regulators conduct themselves. The business visits were a fantastic opportunity to expand my global perspective. As a future professional at a Big Four public accounting firm, it is beneficial for my career to learn about how companies navigate global cultures.
Three key takeaways from my study abroad experience are that Italian regulators prioritize small to medium-sized enterprises, the differences between financing in Italy and the US, and the collectivist nature of Italian culture. While in Italy, I found it amazing how many small businesses existed. I rarely saw chain stores. The reason behind this is that Italian regulators prioritize subsidizing small companies. The mom-and-pop shops bring culture to the small towns of Italy, giving people a sense of purpose. A second takeaway is the difference in financing between Italy and the US. Venture capital funding in the US was over $130 billion in 2024, compared to just $4.5 billion in Italy. American startups rely on angel investors, venture capital firms, and other private investors to grow their businesses. Italian startups rely on banks to secure funding and drive growth. The difference in gathering investments results in potential rapid growth in the US compared to Italy. A third takeaway is the collectivist nature of Italian culture. Italy is a collective culture that focuses on the common good and strives to improve its society. In a collective culture such as Italy, sustainability is framed as a social obligation, and people are more likely to support collective regulations that promote group welfare. At the same time, the US is a culture that values individualism. Environmental responsibility is a personal choice based on one’s moral understanding. Citizens can choose whether to support the environment or not and may resist ecological regulations if they believe these regulations limit their freedoms. Each takeaway helped broaden my global perspective and allowed me to delve deeper into the cultural differences between the US and Italy.
My study abroad experience consisted not only of business visits but also of opportunities to travel. I took day trips to both Anzio and Lake Como. Each trip allowed me to enjoy a new journey and learn how to navigate a foreign country. What surprised me most about the study abroad experience was how easy it was to travel across Italy and, by and large, how friendly the Italians were. The Italian train system is safe and easy to use. It can cut travel time in half compared to driving, allowing our group to spend more time exploring different Italian cities. The chance to travel and get to see a beautiful beach town and one of the most scenic lakes in the world is something I will never forget. I am very grateful for my program and the opportunities I have received, thanks to my university.
My summer abroad was a journey that I will never forget. It was a chance to grow, learn about how different cultures conduct business, and visit destinations I had always wanted to see. My program was filled with wonderful people, fantastic professors, and students who were dedicated to learning about another culture. The chance to study abroad and learn about international businesses is a unique program that I recommend to all accounting majors. The program expanded my worldview, challenged me academically, and left me with lasting memories and professional growth that one cannot receive in a traditional classroom setting. The program is a competitive edge for my future career, and any student aspiring to have a career in public accounting should not miss this opportunity.