The 48-year-old has been out of job since being sacked by Manchester City in May, amidst failing to defend the club's Premier League crown and losing the FA Cup final 1-0 to Wigan.
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"I have time to come back to Italy, as I am still young," Mancini told Sky Sports Italia. "Staying abroad, or being put in charge of a national team, could also be a good experience.
"However, I'm happy with this time off. I've done this work for many years, and there is always so much pressure. Going forward relentlessly is not easy."
However, Mancini expressed his bitterness at being shown the door at the Etihad again, claiming the Premier League runners-up comprehensively failed to grasp the feats he achieved during his four-year tenure.
"We did things well with a team that hadn't won for 50 years," he lamented. "I brought in three trophies, so I am very happy with what I achieved there."