Trade and Development and Expansion

Trade development and Expansion Attitude towards trade Innovations in maritime technology Efficiency in managing voyages Overcoming trade competition Trade monopoly

Attitude Towards Trade Highly Skilled Venetians Able to have lower tax rates than their rivals in terms of trade Able to bring in spices that are high in profit from the East Venetian Traders were able to maintain a upperhand over their rivals. Enterprising Spirit in Venetians  They explored new trade routes, supplies and markets to have a larger trade scale as compared to other rivals. For example, Marco Polo, a well-known explorer, took risks to explore new trade land which allowed Venice to prosper. This is because, Polo’s exploration has increased the relationship between Venice and China, enabling Venice to expand its trade.

Innovations in maritime technology Venice's unique location had allowed its enterprising merchants to build a maritime empire by 1300. People settled on low, sandy islands in the Adriatic, where they were protected by the sea yet had access in their boats and barges to the river mouths that led to inland cities. During the era of the Crusades entered into Mediterranean commerce, establishing merchant depots on islands and seacoasts along the route to the Levant. The rivalry between Venice and Genoa exploded into war. Venice was victorious and retained mastery of its maritime empire.

Efficiency in managing voyages With advance in maritime technology, it ease the departure and arrival of voyages. Allow for more Venetian trades to travel despite bad weather. Senate organized and regulate the schedule of trade voyages such that they travel in groups. Thus efficiency of this measures meant that Venice is able to expand trade with more countries.

Overcoming Trade Competition Trade Competitor Genoa, a main trade competitor Venice faced. Both competed fiercely. Venetian Traders looted trade goods Similarity, Genoa attacked trading ships that belong to Venice and took over the resources. As a result, many wars outbreak. In the end Venice defeated Genoa and became the main trade port

Trade monopoly After defeating Genoa, Venice monopolized trading in the Mediterranean region Central and Southern Europe depended on Venetians for goods from the East such as spices and sugar By traveling overland and by sea, Venetians traders bought goods from Arabian ports and sell them to the rest of Europe at a higher price As Venice’s navy dominated the region, Europeans had no choice but to buy the goods from them