There flat tax He did well in Milan: according to a study by Henley & Partnersthe Milanese capital is positioned among the cities with richest in the world, with one growth of 24% of wealthy residents in ten years, between 2014 and 2024.
But in addition to the subsidized tax regime, the dynamism of the sectors are also attractive for millionaires and billionaires fashion And luxury and the recovery economic post-covid. Not to be underestimated, then, the strategic position that allows you to reach other important European centers in relatively short times.
The ranking of cities with more millionaires
Below is the Top 15 cities with more millionaires in the world (in dollars):
| City | State | millionaires | Centi-Milionari | billionaires | |
|---|---|---|---|---|---|
| 1 | New York | USA | 384,500 | 818 | 66 |
| 2 | Bay Area (Calif.) | USA | 342,400 | 756 | 82 |
| 3 | Tokyo | Japan | 292,300 | 262 | 18 |
| 4 | Singapore | Singapore | 242,400 | 333 | 30 |
| 5 | Los Angeles | USA | 220,600 | 516 | 45 |
| 6 | London | UK | 215,700 | 352 | 33 |
| 7 | Paris | France | 160,100 | 277 | 22 |
| 8 | Hong Kong | Hong Kong | 154,900 | 346 | 40 |
| 9 | Sydney | Australia | 152,900 | 224 | 22 |
| 10 | Chicago | USA | 127,100 | 295 | 25 |
| 11 | Milan | Italy | 115,000 | 182 | 17 |
Also Rome He defends himself, confirming himself attractive for investors and multinationals, but a little less than Milan: in the ranking of Henley & Partnersthe capital ranks in 26th place. At the bottom of the ranking, at position number 50, there is Lisbon with 22,200 millionaires and 4 billionaires.
Because Milan attracts the rich
While recording a flexion of foreign investments in 2023 (49 new multinationals, with a drop of 31.9% Compared to the previous year), the real estate market in Milan continues to show itself lively, despite the high prices. In the first semester of 2024 they recorded each other beyond 1 billion euros of investments and high sales of new houses.
Tourism and export They are booming: Milan generates 9.3% of Italian exports and from the point of view of tourism they boast 8.5 million visitors in 2023.
Milan confirms the Economic capital of Italywith the highest per capita income at national level. Specifically, Milan is first in Europe for GDP growth Post-Covid (+8.7% from 2019 to 2023).
The success of the flat tax in Milan
At the end of 2024, the Private Wealth Migration Reportalways of the consultancy firm Henley & Partnershe showed how Italy is in sixth place in the world and the first in Europe for new millionaires who have transferred the tax residence.
According to more recent estimates, 4,500 rich foreigners are who, with the so -called rule Cristiano Ronaldo have chosen to transfer the residence to Italy by exploiting the flat tax. With the fact that the roof was doubled – from 100,000 to 200,000 euros of income – the flow of the wealthy new residents has not decreased, on the contrary. Half of the Scrooge who chose Italy, took their residence in Milan.
Not everyone, however, rejoiced the situation: the arrival of thousands of super rich has contributed to pushing the prices of the houses upwards, in a city where the costs are already high, in the face of salaries that do not grow.
Bernard Arnault of LVMH
Among them there is also Bernard Arnault, the richest man in Europe and in the fifth position among the richest in the world. The French billionaire is the head of LVMHluxury hub that controls a series of famous brands including Fendi, Louis Vuitton, Bulgari and Tiffany.
Arnault is not a new entry in the Milanese panorama, since he had long purchased the famous House of the Atellani of Corso Magenta, known for the vineyard of Leonardo da Vinci. The news is that Arnault has now also moved his residence to Milan.
