Richest Cities in Italy: A Comprehensive Guide (2025)
The richest cities in Italy paint a complex economic landscape, showing stark contrasts in wealth distribution across regions, from major urban centers to small municipalities. Understanding these differences is crucial for investors, residents, and anyone interested in Italy’s economic dynamics.
This comprehensive guide analyzes the latest available economic data (2021-2023) and current trends and projections for 2025 to provide a forward-looking view of Italy’s wealthiest cities.
Our analysis examines raw economic indicators and the underlying factors that drive and sustain urban prosperity across the country.
Key Insights About Wealth Distribution in Italy
Before diving into specific cities, it’s crucial to understand several key factors that shape Italy’s economic geography:
- The North-South divide remains significant, with northern regions generally showing higher GDP per capita
- Milan leads among major cities with an average income of €37,189 (2023 data)
- Industrial concentration heavily influences regional wealth distribution
- Tourism and cultural heritage contribute significantly to urban economies
Top 5 Wealthiest Major Cities in Italy

Looking at Italy’s major cities, the data reveal clear economic hierarchies. Milan stands dramatically ahead with an average income of €37,189, nearly €8,000 higher than Bologna, its closest competitor.
The remaining cities—Rome, Florence, and Turin—have relatively close income levels, ranging from €28,646 to €26,840, highlighting the more balanced economic development across central Italy.
Let’s examine how each city has achieved its economic position and what drives its prosperity.
1. Milan (Lombardy)

Milan stands as Italy’s undisputed economic powerhouse, transformed from industrial roots into a modern financial hub. With the Borsa Italiana and a thriving tech sector, it leads Italy’s economic evolution:
- Average income: €37,189 (highest among major cities)
- Houses Italy’s primary stock exchange (Borsa Italiana)
- Leading sectors: Finance, fashion, design, and technology
- The highest concentration of multinational corporations in Italy
Suggested Read: Is Milan Worth Visiting? Top Reasons Why You Should
2. Bologna (Emilia-Romagna)

Bologna combines Europe’s oldest university with cutting-edge industrial innovation, creating a unique economic ecosystem that drives northern Italy’s prosperity:
- Average income: €29,480
- Home to Europe’s oldest university
- Strong manufacturing and food production sectors
- Leading technology and innovation hub
Suggested Read: Is Bologna Worth Visiting? Your All-Inclusive Travel Guide
3. Rome (Lazio)

As Italy’s capital, Rome balances public sector stability with a powerful tourism economy, generating significant wealth through its dual role as administrative and cultural center:
- Average income: €28,646
- Government and public sector employment
- Tourism revenue (over 15 million visitors annually)
- Strong service sector presence
Suggested Read: One Day in Rome: The Eternal City’s Essential Itinerary
4. Florence (Tuscany)

Florence leverages its cultural heritage to power a modern economy, blending luxury industries with high-value tourism:
- Average income: €27,636
- Luxury fashion industry presence
- High-end tourism sector
- Strong artisanal and manufacturing traditions
Suggested Read: 25 Key Facts About Florence, Italy: A Guide for Travelers
5. Turin (Piedmont)

Turin exemplifies successful economic transformation, evolving from Italy’s automotive capital into a diverse industrial and technological hub:
- Average income: €26,840
- Automotive industry center (FIAT-Chrysler)
- Aerospace and defense sector presence
- Growing technology and innovation sector
Suggested Read: Is Turin Worth Visiting? A Traveler’s Guide
Notable Wealthy Small Municipalities

Some of Italy’s wealthiest areas are actually smaller municipalities. Here are the top performers:
Municipality | Region | Average Income (€) |
---|---|---|
Lajatico | Tuscany | 54,708 |
Basiglio | Lombardy | 49,325 |
Portofino | Liguria | 45,617 |
These municipalities stand out for distinct reasons:
- Lajatico (Tuscany): Home to just over 1,200 residents, this small town’s wealth is influenced by high-net-worth residents, including renowned tenor Andrea Bocelli. Its per capita income significantly exceeds that of major cities.
- Basiglio (Lombardy): Located in Milan’s metropolitan area, this municipality benefits from its proximity to Italy’s financial capital and hosts numerous financial sector professionals.
- Portofino (Liguria): This picturesque coastal town generates substantial wealth through high-end tourism and luxury real estate, attracting international visitors and investors throughout the year.
Economic Factors Driving Urban Wealth
Several key factors contribute to the economic success of Italy’s wealthiest cities:
- Industrial Base: Cities with strong manufacturing sectors typically show higher average incomes
- Service Sector Development: Financial and professional services contribute significantly to urban wealth
- Tourism Impact: High-value tourism supports luxury retail and services
- Educational Infrastructure: Universities and research centers attract talent and innovation
- International Connectivity: Cities with strong global links show higher economic performance
Regional Economic Disparities
Italy’s wealth distribution shows marked regional patterns:
Northern Italy
- The highest concentration of wealthy cities
- Strong industrial and financial sectors
- Better infrastructure and international connections
- Higher employment rates
Central Italy
- Mixed economic performance
- Strong tourism and cultural sectors
- Growing technology hubs
- Significant public sector presence
Southern Italy
- Generally lower average incomes
- Higher unemployment rates
- Growing tourism potential
- Emerging technology sectors in select cities
Cost of Living Considerations
Higher average incomes often correlate with higher living costs. Here’s how major cities compare:
- Milan: Highest cost of living (approximately 10% above Rome)
- Rome: Second highest living costs
- Florence: High costs, particularly in the historic center
- Bologna: Moderate to high costs, especially for housing
- Turin: More moderate living costs despite a strong economy
Future Economic Trends
Several factors are likely to influence the future wealth distribution in Italian cities:
- Growing importance of technology sectors
- Increasing focus on sustainable development
- Evolution of remote work impact on urban economies
- European Union investment and development programs
- Infrastructure modernization initiatives
Suggested Read: 40 Best Places to Retire in Italy: Your Essential Guide
Richest Cities in Italy: Ranking Methodology

Our rankings are based on data from the Italian Ministry of Economy and Finance (MEF), examining the 2021-2023 personal income tax (IRPEF) declarations. To provide a comprehensive analysis, we’ve incorporated multiple economic indicators:
- Primary indicator: GDP per capita and average declared income
- Economic indicators: Employment rates, industrial production, and growth metrics
- Infrastructure quality: Transportation, healthcare, and educational facilities
- Economic diversification: Presence of multiple vital sectors (manufacturing, services, tourism)
This multi-factor approach ensures that our rankings reflect raw income data and each city’s overall economic health and sustainability.
Frequently Asked Questions
Is Northern Italy richer than Southern Italy?
Yes, Northern Italy generally has higher average incomes, lower unemployment rates, and stronger economic indicators than Southern Italy.
Which Italian city has the most millionaires?
Milan leads with the highest concentration of high-net-worth individuals, followed by Rome and Turin.
What is the average salary in Italy?
As of 2023, the average monthly salary in Italy is €2,627 (approximately €31,524 annually), though this varies significantly by region and profession.
In Italy, which cities offer promising job opportunities?
Rome, Milan, Bologna, Firenze, Turin, and Naples are renowned for their excellent infrastructure and job prospects.
Which cities in Italy are known for the highest average salaries?
The region of Lombardy, hosting Milan, is known for the highest average salary in Italy. Furthermore, Lazio, the region of Rome, and Piedmont, where Turin is situated, showcase significant economic power.
Suggested Read: Highest Paying Jobs in Italy: Top Career Opportunities
Where in Italy do celebrities reside?

Lake Como (Lago di Como), radiating glorious sunshine and gentle pleasures, has been a preferred haven for the rich since Roman times.
Many celebrities, such as George Clooney, Madonna, Richard Branson, Sylvester Stallone, and Gianni Versace, have owned properties on its shores.
Which is the most luxurious street in Italy?

Via Monte Napoleone in Milan is the most luxurious street in Italy, perfect for buying all sorts of luxury goods. It is the most expensive street in Europe and the third priciest globally.
Recommended Reading: Top 10 Shopping Destinations in Italy: Your Italy shopping guide, from luxury fashion to artisanal crafts.