Unveiling Italy’s crown jewel of wealth and exclusivity, this enchanting Ligurian town isn't just famous for its breathtaking coastline and glamorous lifestyle—it also boasts the highest per capita income in the country.
Based on the income declared in 2023, referring to the 2022 tax year, the richest town in Italy is Portofino, in the province of Genoa. Step into a world where luxury meets charm and discover why this destination reigns supreme.
Portofino is the richest town in Italy
Portofino, the picturesque Ligurian village renowned worldwide for its marina and stunning coastal views, also boasts a per capita income far exceeding the Italian average. The average income has reached an impressive €90,610 per person, based on a total of 301 taxpayers. What’s even more remarkable is the town’s meteoric rise in wealth. In the previous tax year, Portofino ranked only fourth, with a more modest average income of €39,200—making its current position a testament to its flourishing affluence.
The 10 richest cities in Italy
While Portofino boasts an exceptionally high average income, many other municipalities also have very high per capita incomes and deserve a place on the list of Italy’s wealthiest towns. According to Corriere della Sera, in addition to Portofino, the top 10 richest cities in Italy are:
- Portofino: €90,610
- Lajatico: €52,955
- Basiglio: €49,524
- Briaglia: €43,475
- Cusago: €39,814
- Torre d’Isola: €36,841
- Bogogno: €36,616
- Segrate: €35,866
- Pino Torinese: €35,378
- Milan: €35,282
Where do millionaires live in Italy?
While New York holds the title of the city with the most millionaires in the world, with over 350,000 residents, Milan takes the lead in Italy. According to Wall Street Italia, the city is home to 104,500 millionaires.
This significant figure, especially when compared to the total population, has earned Milan the 14th spot globally. In contrast, Rome, with 57,600 millionaires, ranks only 25th worldwide. It’s no coincidence that two of Italy’s most expensive streets for buying property are in Milan: Via Torino, with an average price of €4,511,923, and Corso Monforte, where the average price is €3,824,153.
What are the richest cities in Europe?
Given the substantial differences between tax systems across European countries, it’s difficult to use the same parameters to determine counterparts to Italy’s wealthiest cities. However, one can rely on the "millionaire rankings" in various cities across the continent.
The first to appear is London: the British capital ranks fifth globally, boasting 227,000 millionaires among its residents. In seventh place is Paris and the Île-de-France region, home to a staggering 165,000 ultra-wealthy residents. Frankfurt follows in sixteenth place with 94,500 millionaires, while Zurich ranks eighteenth and Geneva twentieth.
The wealthiest provinces and regions in Italy
By analysing the data on the top 30 wealthiest municipalities in Italy, we can draw some additional insights. The region with the highest number of wealthy towns is Lombardy, which boasts 17 entries on the list.
Following Lombardy, Piedmont ranks second with 6 municipalities, while Liguria comes third with 3, and Tuscany fourth with 2. On a provincial level, Milan province stands out, as it includes the city of Milan and contributes four municipalities to the Top 10.
Living in Portofino, Italy's richest town
Portofino is undoubtedly synonymous with exclusivity and luxury. This small Ligurian village offers an exceptional quality of life, thanks to its natural beauty, abundant sights, and top-tier services. Despite its modest size, Portofino is home to bars, restaurants, shops, and essential services. Moreover, its proximity to Genoa and other major Ligurian cities provides additional opportunities, both professionally and culturally. Explore the latest listings for homes for sale or rent in Portofino with Idealista:
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