Economy of Milan
From Wikipedia, the free encyclopedia
Milan is the capital of the Lombardy region in northern Italy and is the wealthiest city in Italy.[1] Milan and Lombardy had a GDP of €400 billion ($493 billion) and €650 billion ($801 billion) respectively in 2017.[2] Milan surpassed Berlin in the size of its economy in 2014, and has since been the richest city among the Four Motors for Europe. It is a member of the Blue Banana corridor among Europe's economic leaders.
This article's factual accuracy is disputed. (February 2018) |
Milan's hinterland is Italy's largest industrial area. Milan's GDP per capita of about €49,500 (US$55,600) ranks among Italy's highest.[3]
Milan's Porta Nuova District is Europe's richest subdivision within any city, with a GDP of €257 billion ($308 billion) in 2016 which is comparable to the GDP of the world's 34th richest country, Philippines. The city center also houses Europe's most expensive street, Via Montenapoleone and the National Stock Exchange, Borsa Italiana.
Milan is considered as one of the fashion capitals of the World together with New York, Paris, and London.[4] Major fashion houses and labels, such as Versace, Armani, Valentino, Prada, Dolce & Gabbana, Moschino, Moncler, Luxottica, Trussardi, and Missoni are headquartered in Milan.
Milan was named Europe's most expensive city in 2015 based on the cost of its lodgings ranking higher than Stockholm in second place and Munich in third place.[5] Milan is the world's 11th most expensive city for expatriate employees[6] and its influence in fashion, commerce, business, banking, design, trade and industry makes it a global city.[7]