Milan & Phoenix

Milan is the regional capital of Lombardy, in northern Italy, and the seat of the Metropolitan City of Milan. It is the second-most populous city in Italy after Rome, with a population of 1.36 million in 2025. The city's wider metropolitan area is the largest in Italy, and the fourth-largest in the European Union, with an estimated population of 6.1 million. Milan is considered Italy's economic capital, and its metropolitan area accounts for about 20% of the country's GDP. Founded around 590 BC by a Celtic tribe, Milan was conquered by the Romans in 222 BC, who Latinized the name of the city into Mediolanum and made it the capital of the Western Roman Empire. In the Late Medieval period, the wealthy Duchy of Milan was one of the greatest forces behind the Renaissance. As a major center of the Italian Enlightenment during the Early modern period, Milan's cultural and political struggle against Austrian domination was crucial in the reunification of the Kingdom of Italy. From the 19th century onwards, Milan led the industrial and financial development of Italy. Milan is a major international center of industry, finance, science, communications, fashion, art and tourism. Milan is the city with the highest concentration of millionaires in the world in relation to the population (one in 12 residents). This is confirmed by the annual report of Henley & Partners 2025. Milan was classified as an "Alpha" city by the Globalization and World Cities Research Network. Milan's business district hosts Borsa Italiana, Italy's main stock exchange (part of the Euronext consortium, the world's sixth-largest by market capitalization) and the headquarters of numerous national corporations, including eight Fortune 500 Europe companies. As of 2023, Milan and its special metropolitan authority have the largest GDP and the highest per-capita GDP of any Italian province. Milan is a global fashion capital and a major international tourist destination, appearing among the most visited cities in the world, ranking second in Italy after Rome, fifth in Europe and sixteenth in the world. The city is a major cultural center, with museums and art galleries that feature some of the most important collections in the world, including major works by Leonardo da Vinci. The city also hosts numerous educational institutions, including academies and universities that account for 11% of the national total of enrolled students. Additionally, Milan hosts several international events and fairs, including Milan Fashion Week and the Milan Furniture Fair, which are among the world's largest in terms of revenue, visitors and growth. The city is served by many luxury hotels and is the fifth most starred in the world by Michelin Guide. It hosted the Universal Exposition in 1906 and 2015. In the field of sports, Milan is home to two of Europe's most successful football teams, AC Milan and Inter Milan, and one of Europe's main basketball teams, Olimpia Milano. Milan will host the Winter Olympic and Paralympic games for the first time in 2026, together with Cortina d'Ampezzo.