Milan faces tourism decline and housing affordability crisis

Milan is experiencing significant economic shifts in its tourism and housing sectors. During the summer of 2026, the city saw a 29% drop in tourist arrivals in the center, falling to approximately 1.85 million visitors compared to 2.6 million in 2025. Confcommercio attributes this decline to international geopolitical conflicts and economic uncertainty. Despite this volume decrease, Milan maintains the highest average tourist spending in Italy, with a per capita budget of 2,180 euros, surpassing Rome.

Simultaneously, the city faces a severe housing affordability crisis. The European Commission reports that rental costs in Milan consume up to 76% of the average salary for a 60-square-meter apartment, the highest ratio in Italy. This disparity is noted to potentially hinder labor mobility and staff availability. Local criticism has also intensified, with MEP Ilaria Salis highlighting extreme rental listings, such as a 9-square-meter room costing 895 euros per month, to advocate for stricter market regulation.