Lorenzo Macchi
Research expert covering society, economy, and politics for Italy
Milan - statistics & facts
With 1.35 million inhabitants, Milan is the second-largest Italian city, after Rome and before Naples. It is often considered to be the country’s economic, commercial, and financial capital, being the administrative center of Lombardy, the most populous and richest region of the Republic in terms of Gross Domestic Product (GDP). Milan was founded by a Celtic tribe in the 6th century BC, before being conquered by the Romans in 222 BC, who renamed the center Mediolanum, i.e., “in the middle of the flatland”. Over time, the city gained military as well as political relevance, as it was appointed capital of the western Roman Empire in 286.
At the beginning of the 20th century, Milan led together with Genoa and Turin the industrialization of the peninsula and over the decades many internationally renowned companies and brands were established there. In particular, fashion represents one of the most profitable business sectors, being Milan the third leading city in this industry worldwide.
From the Middle Ages to the industrial revolution
During the 13th-16th centuries, the Milan Duchy was ruled by the Visconti and Sforza families, whose domination is still evident in the majestic Sforza’s castle and from the numerous works of art that they sponsored. In 1559, the city lost its independence and was ruled by the Spanish, Austrians, and French until 1859 when Victor Emanuel II defeated the Habsburg army and Milan joined the unified Kingdom of Italy. Located in the heart of the metropolis, the historical Galleria (shopping gallery) is dedicated to the king, and is one of the city’s major landmarks.At the beginning of the 20th century, Milan led together with Genoa and Turin the industrialization of the peninsula and over the decades many internationally renowned companies and brands were established there. In particular, fashion represents one of the most profitable business sectors, being Milan the third leading city in this industry worldwide.
Economic growth with an aging population?
The population residing in the major urban center of northern Italy has slowly decreased after the COVID-19 pandemic. In fact, in 2020 a peak of 1.4 million inhabitants lived in the city, while after three years 1.35 million people were recorded. This slight drop may be explained by the willingness of many residents to relocate outside the municipality to deal with increasing housing costs. In fact, Milan is the major center of the metropolitan city of Milan (città metropolitana di Milano), an administrative unit which groups other 132 cities or towns that have close ties with the metropolis albeit with more affordable prices for accommodation and an efficient public transportation network. Despite being one of the country’s leading economic areas, a demographic crisis has affected the metropolitan city for years. The number of live births has constantly decreased, simultaneously with an expansion of the older population. Residents aged 65 years old or more are progressively growing to the detriment of new generations. Hence, the crucial future challenge for Milan will be to keep its excellent economic performance, facing a lack of young and motivated workforce.One of the most visited Italian cities
Tourism in Milan plays an essential role. The Duomo (Milan cathedral) is the symbol of the city, and its grandiose square is the center of the metropolis’ social life. Nearby, the already mentioned Galleria and Sforza’s castle are located, as well as the Teatro alla Scala, one of the most prestigious opera houses worldwide. Brera Art Gallery collects numerous works of art from Italian renaissance and, most notably, Milan hosts Leonardo da Vinci’s The Last Supper fresco, protected by UNESCO as a World Heritage Site. In 2022, this sector contributed 7.5 billion euros to the city’s GDP and the number of tourists has been always increasing since 2010. In 2019, eight million people visited Milan and its monuments. COVID-19 severely impacted the touristic flow, but after the health emergency a speedy recovery occurred, as the accommodation facilities recorded six million guests in 2022, mostly coming from the US, France and Germany.
