Finance
Olympics-Milan's economy expected to expand more rapidly in 2026 thanks to Games
Published by Global Banking & Finance Review®
Posted on February 17, 2026
2 min readLast updated: February 17, 2026
Quick Summary
Milan's economy is projected to grow rapidly in 2026, fueled by the Winter Olympics, increased tourism, and a strong real estate market.
Milan's Economy Set for Rapid Growth in 2026 Thanks to Olympics
Economic Outlook for Milan
By Giancarlo Navach
Impact of the Winter Olympics
MILAN, Feb 17 (Reuters) - Milan's economy is expected to expand more quickly in 2026, supported by a rebound in industry, strong services activity and the boost from co-hosting the Winter Olympics, according to a study released by regional business association Assolombarda.
Real Estate and Tourism Trends
The report forecasts GDP in Milan, Italy's financial capital, will expand by 1.7% this year compared with 0.7% growth in 2025.
Budget Allocations for the Games
The Olympic Games alone are expected to generate around 2.5 billion euros in total production in the metropolitan area of Milan, which equates to 1.045 billion euros in value added.
"Milan is experiencing a positive phase," Assolombarda President Alvise Biffi said.
"GDP is growing again at a solid pace, major events are strengthening the city's international visibility and tourism continues to expand," he added.
Biffi said the Winter Games were a “powerful catalyst” to boost the city's profile and accelerate urban transformation.
Milan has experienced a real estate boom since hosting Expo 2015, also fuelled by favourable tax rules that attract wealthy foreigners. However, some locals have complained they are being driven out of the city by rising costs.
Mayor Giuseppe Sala said the Olympics attract more media attention than Expo.
"We are delighted that so many foreign tourists have come. These are the most watched Olympics in history and will have a longer-term impact," Sala said without elaborating.
In Milan, the budget directly tied to the Games amounts to 735 million euros, split between 379 million for event-related or modernisation investments and 356 million for organisational spending.
The city is hosting nearly 90 indoor ice events, including the opening ceremony at the San Siro stadium.
Spending by visitors, athletes and staff is expected to reach around 1 billion euros locally.
(Reporting by Giancarlo Navach; Editing by Keith Weir and Hugh Lawson)
Key Takeaways
- •Milan's GDP is expected to grow by 1.7% in 2026.
- •The Winter Olympics will generate 2.5 billion euros in production.
- •Real estate and tourism sectors are booming.
- •Olympics to enhance Milan's international visibility.
- •Budget for the Games includes 735 million euros for events and organization.
Frequently Asked Questions about Olympics-Milan's economy expected to expand more rapidly in 2026 thanks to Games
1What is economic growth?
Economic growth refers to the increase in the production of goods and services in an economy over a period of time, typically measured as the percentage increase in real GDP.
2What is real estate?
Real estate encompasses land and any permanent structures on it, such as buildings, and is often a significant component of wealth and investment portfolios.
3What is tourism?
Tourism is the activity of traveling to different places for leisure, business, or other purposes, contributing significantly to the economy through spending on services and attractions.
4What is a financial capital?
Financial capital refers to the funds that are available for investment in businesses or projects, often used to generate economic growth and development.
