Due to its central geographic location in Southern Europe, Italy has historically been home to myriad peoples and cultures. In addition to the various ancient peoples dispersed throughout what is now modern-day Italy, the most predominant being the Indo-European Italic peoples who gave the peninsula its name, beginning from the classical era, Phoenicians and Carthaginians founded colonies mostly in insular Italy the most predominant being the Indo-European Italic peoples who gave the peninsula its name, beginning from the classical era, Phoenicians and Carthaginians founded colonies mostly in insular Italy the most predominant being the Indo-European Italic peoples who gave the peninsula its name, beginning from the classical era, Phoenicians and Carthaginians founded colonies mostly in insular Italy Phoenicians and Carthaginians founded colonies mostly in insular Italy