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City Review

Milan City Review

Oct 2017

US$725

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About This Report

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

Milan is not just the "fashion capital of the world" - it is the economic centre of Italy. In 2016, Milan generated 12% of national GDP, while Rome accounted for 9%. Due to the ongoing Italian banking crisis, Milan's economy contracted by 5.1% in real terms over 2011-2016. However, with major corporations (Microsoft; Whirlpool; JP Morgan) expanding, and innovations being implemented (Italy's first fintech hub, for example) in Milan, 2017 already saw good foundations for growth over 2016-2021.

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Overview

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MILAN HIGHLIGHTS

Milan's labour productivity (GVA per employee) in 2016 reached USD94,400, which was 34% higher than the rest of Italy's. The difference stems from Milan's strong focus on the productive sector of business services, as the city hosts 85% of foreign banks operating in Italy. 40% of total GVA in Milan was generated by business services in 2016 versus 28% in the rest of the country.

Labour productivity advantage and lower unemployment rate boost disposable income

The advantage in labour productivity and the lower unemployment rate (7.8% unemployment in Milan versus 12% in the rest of the country) led Milan's households to boast 33% higher levels of disposable income than other Italian households in 2016. However, due to the recession, the Milanese level of income dropped by 11% in real terms over 2011-2016.

significant spending on education and communications compared with the rest of the country

The households of Milan allocated 30% higher levels of annual expenditure (excluding transport and housing) than other Italians in 2016. The largest differences in spending habits between Milan and the rest of Italy are seen in the categories of education and communications, with households in Milan allocating 43% higher expenditure in both categories in 2016.

Greater spending on housing and transport

Household spending on housing and transport in Milan was 26% above the average elsewhere in the country in 2016. However, given the disposable income advantage of 33%, Milan can be considered an affordable city.

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Milan City Review

MILAN REVIEW AT A GLANCE

Understanding Milan Review structure

Chart 1 Overview

Key facts on Milan

Summary 1 Key Facts On Milan 2011, 2016, 2021

MILAN HIGHLIGHTS

History

Delimitation of the metropolitan region

Chart 2 Map Of Milan Metropolitan Area

Main business districts

ECONOMY OF THE CITY

Industrial make-up

Chart 3 Industrial Composition Of Milan 2016
Chart 4 Labour Productivity: Selected Cities 2016

Recent developments and outlook

Chart 5 Dynamics Of Real GDP In Milan, Italy And Other Cities In Western Europe, 2011-2021
Summary 2 Labour Market Changes In Milan 2011, 2016

CONSUMER PROFILE

City demographics

Chart 6 Population By Age 2016
Chart 7 Drivers Of Population Growth In Milan 2011-2016

Household income

Chart 8 Household Distribution By Income In Milan 2016 And 2021

CONSUMER EXPENDITURE

Structure of household budget

Chart 9 Comparison Of Household Expenditure In Milan And Italy, 2016
Summary 3 Milan Household Budget Structure By Consumer Expenditure Item, % of total, 2011, 2016, 2021

City lifestyle

Milan's Fashion Week Not As Profitable As Others
Whirlpool Choosing Household Goods Savvy Milan As Local Headquarters

City affordability

Housing
Chart 10 Household Expenditure On Housing: Selected Cities 2016
Transport
Chart 11 Household Expenditure On Transport: Selected Cities 2016

DEFINITIONS

APPENDIX

Summary 4 GDP Development, 2011, 2016, 2021
Summary 5 GDP By Origin, Current Prices, US$, Million, 2011-2016
Summary 6 Population And Labour Force, 2011-2016
Summary 7 Employed Population By Economic Sector, % of total, 2011-2016
Summary 8 Population By Sex And Broad Age Groups, ‘000, 2011-2016
Summary 9 Population Growth, 2011-2016
Summary 10 Forecast Population Growth
Summary 11 Population By Educational Attainment, 2011-2016
Summary 12 Structure Of Consumer Expenditure By Main Category, 2011-2016
Summary 13 Consumer Expenditure By Main Category, Per Household, Constant (2016) Prices, US$, 2011, 2016, 2021
Summary 14 Households By Income Band, % Of Total, Constant (2016) Prices 2011, 2016, 2021
Summary 15 Households By Income Band, ‘000, Current Prices 2011-2016
Summary 16 Inflation, 2011-2016
Summary 17 Transport Indicators, 2011-2016
Summary 18 Air Pollution, Concentration In Micrograms Per Cubic Metre, 2011-2016
Summary 19 Possession of Consumer Durables, % of Households, 2011, 2016, 2021

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Milan City Review

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Overview

Why buy this report?

MILAN HIGHLIGHTS

Labour productivity advantage and lower unemployment rate boost disposable income

significant spending on education and communications compared with the rest of the country

Greater spending on housing and transport

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Table of Contents

Milan City Review

MILAN REVIEW AT A GLANCE

Understanding Milan Review structure

Key facts on Milan

MILAN HIGHLIGHTS

History

Delimitation of the metropolitan region

Main business districts

ECONOMY OF THE CITY

Industrial make-up

Recent developments and outlook

CONSUMER PROFILE

City demographics

Household income

CONSUMER EXPENDITURE

Structure of household budget

City lifestyle

City affordability

DEFINITIONS

APPENDIX

Why buy this report?

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Megatrends

City Review

Milan City Review

New Report Guarantee

About This Report

New Report Guarantee

Overview

Why buy this report?

MILAN HIGHLIGHTS

Labour productivity advantage and lower unemployment rate boost disposable income

significant spending on education and communications compared with the rest of the country

Greater spending on housing and transport

Want to find out more about this report?

Table of Contents

Milan City Review

MILAN REVIEW AT A GLANCE

Understanding Milan Review structure

Key facts on Milan

MILAN HIGHLIGHTS

History

Delimitation of the metropolitan region

Main business districts

ECONOMY OF THE CITY

Industrial make-up

Recent developments and outlook

CONSUMER PROFILE

City demographics

Household income

CONSUMER EXPENDITURE

Structure of household budget

City lifestyle

City affordability

DEFINITIONS

APPENDIX

Why buy this report?

Want to find out more about this report?

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Recently Viewed

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