Rich people love coming to Milan

If Italy is called the Bel Paese, there must be a reason. Tourism, in fact, is one of the main forces driving the country’s economy, with internationally renowned destinations such as the Amalfi Coast, Rome, the Tuscan hills, the Alps, and so on. Even though in the past year mass tourism has perhaps become an excessive burden for many citizens, growing disproportionately, luxury tourism continues to rise. According to a new study, the Lombardy Region recorded an 11% increase in tourist arrivals from January to September, with significant growth also in the number of high-spending visitors: 32% of vacationers spend over 120 euros per day. From this perspective, the Lombardy region is above the national average, suggesting that the wealthy prefer Milan over the rest of Italy. The data from the National Institute of Tourism Research support this claim, showing a shift in tourism demand in Lombardy, moving from mass tourism to quality tourism. In summer 2024, high-spending visitors spent an average of 158 euros per day on accommodation and 215 euros on restaurants, shopping, museums, and local transport. 

Milan, thanks to its events, helps to push the entire Lombardy tourism system toward an increasingly quality- and service-focused offering, showing that luxury tourism is gradually becoming the region’s main focus. The cornerstone remains the luxury segment in fashion, confirming itself as one of the most attractive features for international tourists, as highlighted by data on Tax Free Shopping. The news is hardly surprising, as Milan and, more broadly, Italy have repeatedly established themselves over the past year as top destinations for the ultra-wealthy and billionaires. Not just for vacation stays: in fact, in the post-pandemic era, the Lombard capital has seen a boom in new residents with deep pockets. In connection with this, luxury hotels and members clubs are finding fertile ground in Milan. Just a few months ago, Soho House announced a new location in San Babila, set to open in 2025. This trend suggests that Lombardy, and particularly Milan, are becoming not only tourist destinations but also true hubs of attraction for an increasingly exclusive market segment, given the fiscal advantages compared to former ultra-luxury hotspots like London. At the same time, the growth of this ecosystem, which continues to elevate the region’s socioeconomic status, risks turning Milan into an enclave for the wealthy, exacerbating existing disparities both internally and in relation to the rest of Italy.