Press
Hollywood recognized the potential decades ago. Tourism has also been booming for some time. The fishing village is now the richest municipality in Italy.
Portofino – Between the hills of the Italian Riviera coast lies a small village that served as a filming location for numerous films and some episodes of the US soap opera “The Bold and the Beautiful”. With only about 400 inhabitants, the municipality of Portofino is the wealthiest in Italy. This is reported by the daily newspapers Sierra Corriere and The Message citing an analysis by the Italian Ministry of Finance. The income tax data for the 2022 tax year, collected last year, served as the basis for this calculation.
However, the sleepy little town is no longer an insider tip among Italy lovers.
Almost three-digit income: In the Italian fishing village of Portofino, life is prosperous
The community’s colorful houses are built on the steep hills of the Mediterranean coast, with small boats moored in the natural harbor. This picturesque setting, about an hour’s drive southeast of Genoa in the Liguria region, attracts both visitors and the wealthy.
In 2022, the 301 taxpayers there earned an average of 90,610 euros. A remarkable rise; last year the municipality was in fourth place with an average income of 39,200 euros. The attraction of the charming little town has also attracted holidaymakers. So much so that the authorities had to take action on site in 2023.
Crowds flood Italian town: With the visitors come problems – Portofino defends itself
More than 10,000 visitors flock to the narrow streets and alleys of the fishing village during the peak season, as Euronews reported. And they strained the nerves of the residents. Many blocked the paths while posing for selfies. The result: no-stopping zones for pedestrians.
Anyone who stands on the quay too long between 10:30 a.m. and 6 p.m. risks a fine of 270 euros. The ban applies to the high season, until October 15. This is not the only measure to deal with mass tourism in Italy. The lagoon city of Venice now charges for entry to the center, and another Italy’s holiday hotspot charges admission.
Income tax ranking shows where the richest places in Italy are
Wealth in Italy is mainly concentrated in the north of the country. The previous leader, the village of Lajatico in Tuscany, which is known to opera lovers for Andrea Bocelli’s Teatro del Silenzio, is now only the second richest municipality in Italy. The 1,021 taxpayers there earned an average of 52,955 euros.
In third place is a suburb of the city of Milan, the municipality of Basiglio. With almost 8,000 inhabitants, it is the largest municipality among the top three. The 5,704 taxpayers there reported an average income of 49,524 euros in the 2022 tax year. This is followed by the municipalities of Briaglia in Piedmont (43,475 euros) and Cusago in Lombardy (39,814 euros).
Portofino (Liguria) | 90,610 € |
Lajatico (Tuscany) | 52,955 € |
Basiglio (Lombardy) | 49,524 € |
Briaglia (Piedmont) | 43,475 € |
Cusago (Lombardy) | 39,814 € |
Of the 30 richest municipalities, 17 are in Lombardy, six in Piedmont, three in Liguria, two in Tuscany and one each in Emilia-Romagna and Aosta Valley. Southern regions of Italy are not represented in this ranking. In addition, the increasingly active supervolcano is putting the southern region on alert.
Income tax revenues in Italy twice as high as in Germany
The Italian state treasury was pleased with higher income tax revenues. In the 2022 tax year, a total of 174.2 billion euros were collected, which corresponds to an increase of two percent over the previous year. By comparison: in Germany, income tax recorded gross revenues of 89 billion euros in the 2022 fiscal year, according to the Federal Ministry of Finance. An increase of 5.2 percent compared to 2021.
The richest city in Germany is Munich. Not only are the cost of living and rents among the highest in the Bavarian capital, but income is also among the highest in Germany. According to the online platform for employer ratings kununu The average income of Munich residents was 56,205 euros, just above that in Frankfurt am Main (55,827 euros).
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