Editing Milan (section)

== Economy ==
{{Main|Economy of Milan}}
[[File:Palais Mezzanotte - Milan (IT25) - 2022-09-03 - 3.jpg|thumb|[[Palazzo Mezzanotte]], the seat of the [[Borsa Italiana|Italian stock exchange]]]]
[[File:Milan Porta Nuova business district by night.jpg|thumb|The skyscrapers of [[Porta Nuova (Milan)|Porta Nuova business district]]]]
[[File:Veduta delle tre torri del quartiere Citylife a Milano.jpg|thumb|The skyscrapers of [[CityLife (Milan)|CityLife business district]]]]
[[File:Fieramilano Rho Pero improved version.jpg|thumb|[[Fiera Milano]], the most important trade fair organiser in Italy and the world's fourth largest<ref name="Fiera"/>]]
[[File:3665MilanoViaMontenapoleone.JPG|thumb|[[Via Monte Napoleone]] is Europe's most expensive street and the most-expensive street in the world, dethroning in 2024 [[Fifth Avenue]] in New York City<ref name="milano.corriere">{{cite web |date=30 November 2023 |title=Via Monte Napoleone scala la classifica mondiale delle strade del lusso: seconda solo alla Fifth Avenue di New York |url=https://milano.corriere.it/notizie/cronaca/23_novembre_30/via-monte-napoleone-scala-la-classifica-mondiale-delle-strade-del-lusso-seconda-solo-alla-fifth-avenue-di-new-york-38c12cba-c8b2-4770-8059-2c59e3c70xlk.shtml}}</ref>]]
[[File:Prada milano.JPG|thumb|[[Prada]] shop at [[Galleria Vittorio Emanuele II]] in Milan]]

Whereas Rome is Italy's political and cultural capital, Milan is the country's industrial and financial heart, being the economic capital of Italy<ref name="prologis"/> and it is a global centre for business, fashion and finance as well.

Milan is considered, together with [[London]], [[Hamburg]], [[Frankfurt]], [[Munich]] and [[Paris]], one of the six European economic capitals.<ref name="Astolfi" />

Milan is one of the wealthiest cities in Italy.<ref>{{cite web |url=https://www.infodata.ilsole24ore.com/2023/07/18/scopri-dove-vivono-in-italia-i-ricchi-che-pagano-le-tasse/#:~:text=Posizioni%20invariate%20per%20quanto%20riguarda,%E2%82%AC%20Monza%20e%20%2B1.848%20%E2%82%AC |title=Scopri dove vivono in Italia i ricchi (che pagano le tasse) |date=18 July 2023 |access-date=27 November 2023 |language=it |publisher=[[Il Sole 24 Ore]]}}</ref><ref>{{Cite web |last=TG24 |first=Sky |date=2024-04-24 |title=Le città più ricche in Italia: la mappa dei redditi comune per comune |url=https://tg24.sky.it/economia/2024/04/23/dichiarazione-redditi-2023-mappa-comuni-italia |access-date=2024-12-16 |website=tg24.sky.it |language=it}}</ref> Milan and Lombardy had a [[nominal GDP]] of €195&nbsp;billion ($205&nbsp;billion) and €480.6 billion ($505&nbsp;billion), respectively, in 2023, being roughly double the GDP of EU countries such as [[Greece]], [[Hungary]] or [[Portugal]] and being similar to the [[Republic of Ireland|Irish]] or [[Austria]]n ones.<ref>{{Cite web |last=Carletti |first=Flavia |date=2024-10-23 |title=Lombardia prima economia italiana. Da sola sarebbe il decimo paese dell'Ue |url=https://www.ilsole24ore.com/art/lombardia-prima-economia-italiana-sola-sarebbe-decimo-paese-dell-ue-AGi8I3i |access-date=2024-12-16 |website=Il Sole 24 ORE |language=it}}</ref><ref>{{Cite web |title=GDP of EU member states 2023 |url=https://www.statista.com/statistics/1373346/eu-gdp-member-states-2022/ |access-date=2024-12-16 |website=Statista |language=en}}</ref><ref>{{Cite web |last=Carletti |first=Flavia |date=2024-06-20 |title=Nel 2023 la Lombardia è cresciuta più dell'Italia |url=https://www.ilsole24ore.com/art/nel-2023-lombardia-e-cresciuta-piu-dell-italia-AGzDyQf |access-date=2024-12-16 |website=Il Sole 24 ORE |language=it}}</ref><ref>{{Cite web |date=2024-02-19 |title=milano sempre più ricca, pil a +10,2% rispetto al pre covid e gli occupati crescono del 3,2% |url=https://www.ilsole24ore.com/art/milano-sempre-piu-ricca-pil-102percento-rispetto-pre-covid-e-occupati-crescono-32percento-AFtcgjdC |access-date=2024-12-16 |website=Il Sole 24 ORE |language=it}}</ref> The province of Milan generates approximately 10% of the national GDP; while the economy of the [[Lombardy]] region generates approximately [[List of Italian regions by GDP|19.5% of Italy's GDP]] (or an estimated €481&nbsp;billion in 2023,<ref name="Eurostat regional GDP">{{Cite web |title=Gross domestic product (GDP) at current market prices by NUTS 2 regions |url=http://appsso.eurostat.ec.europa.eu/nui/submitViewTableAction.do |url-status=dead |archive-url=https://web.archive.org/web/20141006122431/http://appsso.eurostat.ec.europa.eu/nui/submitViewTableAction.do |archive-date=6 October 2014 |access-date=15 November 2017}}</ref> roughly the size of Belgium).

The city is a member of the [[Blue Banana]] corridor and of the [[Four Motors for Europe]] among Europe's economic leaders. Milan's [[hinterland]] is Italy's largest industrial area and its GDP per capita of about €61,200 in 2021 (US$64,300) ranks among Italy's highest.<ref>{{Cite web |title=Gross domestic product (GDP) at current market prices by NUTS 3 region |url=https://ec.europa.eu/eurostat/databrowser/view/nama_10r_3gdp__custom_14713110/default/table?lang=en |access-date=2024-12-16 |website=ec.europa.eu}}</ref>

The province of Milan is home to about 45% of businesses in the Lombardy region and more than 8 percent of all businesses in Italy, including three [[Fortune 500]] companies.<ref>{{cite web|title=Fortune 500 – 2011 ranking by location|url=https://money.cnn.com/magazines/fortune/global500/2011/countries/Italy.html|access-date=21 October 2012|archive-date=17 February 2019|archive-url=https://web.archive.org/web/20190217084935/https://money.cnn.com/magazines/fortune/global500/2011/countries/Italy.html|url-status=live}}</ref>

According to the [[Economist Intelligence Unit]], Milan was the 11th-most-expensive city in Europe and the 22nd-most-expensive city in the world in 2019,<ref>{{cite news |last=Beswick |first=Emma |title=Europe is home to some of the most expensive cities in the world in 2019 — where are they? |url=https://www.euronews.com/2019/03/19/europe-is-home-to-some-of-the-most-expensive-cities-in-the-world-in-2019-where-are-they |access-date=30 December 2019 |publisher=[[Euronews]] |date=19 March 2019 |archive-date=9 January 2020 |archive-url=https://web.archive.org/web/20200109092906/https://www.euronews.com/2019/03/19/europe-is-home-to-some-of-the-most-expensive-cities-in-the-world-in-2019-where-are-they |url-status=live }}</ref> while according to Swiss bank UBS it was the 7th most expensive city in the world in 2018.<ref>{{Cite web |last=Milan |first=Wanted in |date=2018-05-30 |title=Milan world's 7th most expensive city according to UBS |url=https://www.wantedinmilan.com/news/milan-worlds-7th-most-expensive-city-according-to-ubs.html |access-date=2024-12-16 |website=Wanted in Milan |language=en}}</ref> One of its main roads, [[Via Monte Napoleone]], is Europe's most expensive street as well as the most-expensive street in the world (2024).<ref>{{Cite web |last=Ziady |first=Hanna |date=2024-11-20 |title=So long, Fifth Avenue. The world's most expensive shopping street is now in Milan |url=https://edition.cnn.com/2024/11/20/business/milan-most-expensive-shopping-street-intl/index.html |access-date=2024-12-16 |website=CNN |language=en}}</ref>

Milan is one of the [[fashion capital]]s of the world, where the sector can count on 12,000 companies, 800 show rooms and 6,000 sales outlets; the city hosts the headquarters of global fashion houses such as Armani, [[Bottega Veneta]], [[Costume National]], Dolce & Gabbana, [[Dean and Dan Caten|Dsquared²]], [[Etro]], [[Jil Sander (brand)|Jil Sander]], [[Loro Piana]], [[Luxottica]], [[Marni (brand)|Marni]], [[Moncler]], Moschino, Prada, Versace, [[Valentino Garavani|Valentino]], [[Trussardi]] and [[Zegna]] and four weeks a year are dedicated to fashion events.<ref name="City profile">{{cite web |title=Milan: city profile |url=http://www.comune.milano.it/portale/wps/portal/!ut/p/c0/04_SB8K8xLLM9MSSzPy8xBz9CP0os3hHX9OgAE8TIwN_HzMnAyNLg1BDvyAvYwNPU_2CbEdFAIVG2dw!/?WCM_PORTLET=PC_7_AM5RPI420OL6B0290U1NRJ30A6_WCM&WCM_GLOBAL_CONTEXT=/wps/wcm/connect/contentlibrary/Inglese/HomePage/Business/Profilo+Milano/ |url-status=live |archive-url=https://web.archive.org/web/20160305171133/http://comune.milano.it/portale/wps/portal/!ut/p/c0/04_sb8k8xllm9msszpy8xbz9cp0os3hhx9ogae8tiwn_hzmnaynlg1bdvyavywnpu_2cbedfaivg2dw!?wcm_global_context=%2Fwps%2Fwcm%2Fconnect%2Fcontentlibrary%2Finglese%2Fhomepage%2Fbusiness%2Fprofilo+milano%2F&wcm_portlet=pc_7_am5rpi420ol6b0290u1nrj30a6_wcm |archive-date=5 March 2016 |access-date=29 May 2021 |publisher=Municipality of Milan}}</ref>

Since the late 1800s, the area of Milan has been a major industrial and manufacturing centre. [[Alfa Romeo]] automobile company and [[Falck Group|Falck]] steel group employed thousands of workers in the city until the closure of their sites in [[Arese]] in 2004 and [[Sesto San Giovanni]] in 1995.

Other global industrial companies, such as [[Edison (company)|Edison]], [[Prysmian Group]], [[Gruppo Riva|Riva Group]], [[Saras S.p.A.|Saras]], [[Saipem]], Luxottica, [[Pirelli]], [[UniCredit]] and [[Techint]], maintain their headquarters and significant employment in the city and its suburbs. Other relevant industries active in metro Milan include chemicals (e.g. [[Mapei]], [[Versalis]], [[Tamoil|Tamoil Italy]]), home appliances (e.g. [[Candy (company)|Candy]]), hospitality ([[UNA Hotels & Resorts]]), food & beverages (e.g. [[Bertolli]], [[Campari Group|Campari]]), machinery, medical technologies (e.g. [[Amplifon]], [[Bracco (company)|Bracco]]), plastics and textiles. The construction (e.g. [[Webuild]]), retail (e.g. [[Esselunga]], [[La Rinascente]]) and utilities (e.g. [[A2A]], Edison S.p.A., [[Snam]], [[Sorgenia]]) sectors are also large employers in the Greater Milan. Other major companies based in Milan include [[Fininvest]], [[TIM Group]] and [[Banco BPM]].

The main national insurance companies and banking groups (for a total of 198 companies) and over forty foreign insurance and banking companies are located in the city,<ref name="City profile" /> as well as a number of asset management companies, including [[Anima Holding]], [[Azimut Holding]], [[ARCA SGR]] and [[Eurizon Capital]]. The [[Associazione Bancaria Italiana]] representing the Italian banking system, and [[Borsa Italiana|Milan Stock Exchange]] (225 companies listed on the stock exchange) are both located in the city. Porta Nuova, the main [[business district]] of Milan and one of the most important in Europe, hosts the Italian headquarters of numerous global companies, such as [[Accenture]], [[AXA]], [[Bank of America]], [[BNP Paribas]], [[Celgene]], [[China Construction Bank]], [[Deutsche Bank (Italy)|Deutsche Bank]], [[FM Global]], [[Herbalife]], [[Amazon (company)|Amazon]], [[Iliad Italia|Iliad]], [[KPMG]], [[Maire Tecnimont]], [[Mitsubishi UFJ Financial Group]], [[Panasonic]], [[Pirelli]], [[Ubisoft Milan|Ubisoft]], [[Shire (pharmaceutical company)|Shire]], [[Tata Consultancy Services]], [[Telecom Italia]], UniCredit and [[UnipolSai]].

Other large multinational service companies, such as [[Allianz]], [[Assicurazioni Generali|Generali]], [[Alleanza Assicurazioni]] and [[PricewaterhouseCoopers]], have their headquarters in the CityLife business district, a new {{convert|900|acre|km2|adj=mid|-wide}} development project designed by prominent modernist architects Zaha Hadid, Daniel Liebskind and Arata Isozaki.

The city is home to numerous media and advertising agencies, [[List of Italian newspapers|national newspapers]] and telecommunication companies, including both the public service broadcaster [[RAI]] and private television companies like [[Mediaset]] and [[Sky Italia]]. In addition, it hosts the headquarters of the largest Italian publishing companies, such as [[Feltrinelli (publisher)|Feltrinelli]], [[Giunti Editore]], {{Ill|Messaggerie Italiane|it}}, [[Mondadori]], [[RCS Media Group]] and {{Ill|Rusconi Libri|it}}. Milan has also seen a rapid increase in the presence of [[information technology|IT]] companies, with both domestic and international companies such as [[Altavista]], Google, [[Italtel]], [[Lycos]], [[Microsoft]],<ref>{{cite web |title=MICROSOFT HOUSE – THE STUNNING HEADQUARTERS OF MICROSOFT ITALY Through the Keyhole |url=https://news.microsoft.com/europe/features/through-the-keyhole/ |website=news.microsoft.com |date=7 March 2017 |publisher=Microsoft News Centre Europe |access-date=31 December 2019 |archive-date=31 December 2019 |archive-url=https://web.archive.org/web/20191231153943/https://news.microsoft.com/europe/features/through-the-keyhole/ |url-status=live }}</ref> [[Virgilio.it|Virgilio]] and [[Yahoo!]] establishing their Italian operations in the city.

The city is also a global hub for event management and trade fairs. [[Fiera Milano]] operates the most important trade fair organiser in Italy and the world's fourth-largest<ref name="Fiera">{{cite web |title=Ranking of the world's largest exhibition halls in 2018, by gross hall capacity |url=https://www.statista.com/statistics/264240/largest-exhibition-halls-in-the-world-by-hall-capacity/ |website=Statista |access-date=3 February 2020 |archive-date=3 February 2020 |archive-url=https://web.archive.org/web/20200203145736/https://www.statista.com/statistics/264240/largest-exhibition-halls-in-the-world-by-hall-capacity/ |url-status=live }}</ref> exhibition hall in Rho, were international exhibitions like [[Milan Furniture Fair]], [[EICMA]], [[EMO (trade show)|EMO]] take place on 400,000 square metres of exhibition areas with more than 4&nbsp;million visitors in 2018.<ref>{{cite web |title=2018 Sustainability Report Consolidated disclosure of non-financial information pursuant to Legislative Decree 254/2016 |url=https://www.fieramilano.it/content/dam/fieramilano/documenti/lp-investor-relations/en/sustainability/FIERA_DNF_2018_ENG.pdf |publisher=[[Fiera Milano]] |access-date=3 February 2020 |archive-date=3 February 2020 |archive-url=https://web.archive.org/web/20200203162244/https://www.fieramilano.it/content/dam/fieramilano/documenti/lp-investor-relations/en/sustainability/FIERA_DNF_2018_ENG.pdf |url-status=live }}</ref>

===Tourism===
{{Main|Tourism in Milan}}
{{wide image|20170706 MilanoDuomo 9637 (36747362195).jpg|800px|align-cap=center|The [[Galleria Vittorio Emanuele II]], the [[Milan Cathedral]], the [[Royal Palace of Milan]] and the [[Palazzo dell'Arengario]] in [[Piazza del Duomo, Milan|Piazza del Duomo]]}}
[[File:Duomo di milano keski.jpg|thumb|Interior of the [[Milan Cathedral]]. Milan Cathedral is the city's most popular tourist destination.<ref name="slideshare"/>]]

[[Tourism in Milan|Tourism is an increasingly important part of the city's economy]]: with 8.81&nbsp;million registered international arrivals in 2018 (up 9.92% on the previous year), Milan ranked as the world's 15th-most-visited city.<ref>{{cite web|url=https://newsroom.mastercard.com/press-releases/big-cities-big-business-bangkok-london-and-paris-lead-the-way-in-mastercards-2018-global-destination-cities-index/|title=Global Destination Cities Index by Mastercard, 2018 edition|access-date=28 April 2019|archive-date=28 September 2018|archive-url=https://web.archive.org/web/20180928121613/https://newsroom.mastercard.com/press-releases/big-cities-big-business-bangkok-london-and-paris-lead-the-way-in-mastercards-2018-global-destination-cities-index/|url-status=dead}}</ref> One source has 56% of international visitors to Milan are from Europe, 44% of the city's tourists are Italian, and 56% are from abroad.<ref name=slideshare>[http://www.slideshare.net/mtmexperience/tourist-characteristics-and-the-perceived-image-of-milan Infos at slideshare.net]</ref> The most important European Union markets are the United Kingdom (16%), Germany (9%) and France (6%).<ref name="slideshare"/> Most of the visitors who come from the United States to the city go on business matters, while Chinese and Japanese tourists mainly take up the leisure segment.<ref name=slideshare/> Milan is one of the international tourism destinations, appearing among the forty most visited cities in the world, ranking second in Italy after Rome, fifth in Europe and sixteenth in the world.<ref name="ilgiorno"/><ref name="newsroom"/>

The city boasts several popular tourist attractions, such as the Milan Cathedral and Piazza del Duomo, the [[Teatro alla Scala]], the [[San Siro Stadium]], the Galleria Vittorio Emanuele II, the Castello Sforzesco, the Pinacoteca di Brera and the [[Via Montenapoleone]]. Most tourists visit sights<ref>{{cite web|title=places to go in milan|url=http://milan.citylisting.org/|accessdate=27 February 2015|archive-url=https://web.archive.org/web/20150402102008/http://milan.citylisting.org/|archive-date=2 April 2015|url-status=dead}}</ref> such as Milan Cathedral, the Castello Sforzesco and the Teatro alla Scala; however, other main sights such as the [[Basilica di Sant'Ambrogio]], the Navigli and the Brera district are less visited and prove to be less popular.<ref name="slideshare.net">{{cite web|url=http://www.slideshare.net/mtmexperience/tourist-characteristics-and-the-perceived-image-of-milan|title=Tourist Characteristics and the Perceived Image of Milan|date=10 February 2009 |publisher=Slideshare.net|accessdate=29 April 2010}}</ref> The city also has numerous hotels, including the ultra-luxurious [[Town House Galleria]], which is the world's first [[star (classification)|seven-star]] hotel according to [[Société Générale de Surveillance]] (''five-star superior luxury'' according to state law, however) and one of [[The Leading Hotels of the World]].<ref>{{cite news|url=http://www.theage.com.au/travel/heaven-at-the-worlds-first-sevenstar-hotel-20090103-79de.html|title=Heaven at Milan's Town House Galleria hotel|work=[[The Age]]|date=7 January 2009|accessdate=21 January 2009|location=Melbourne}}</ref>