The number of graduates in Italy doubled over the last ten years with more than 40% of young people now completing university courses - the same rate as Norway, Finland, Denmark and the Netherlands, according to the Organisation for Economic Co-operation and Development.
Similar success rates can now be seen in Australia, New Zealand, Iceland and Poland, the OECD said in its 2007 Report on Education and Employment.
Graduation rates tended to be highest in countries where degree programmes are short, the OECD said.
By contrast, in Germany and Austria, where programmes are longer, only around 20% of young people get degrees.
Italy spends less on education than other OECD nations, the report said.
In 2004, the last year for which data are available, Italy spent less than 5% of GDP compared to the average 6.2% spent across the 31-member OECD.
As regards university education alone, the report highlighted that the United States spends three times the amount Italy spends per student, in GDP terms.
