Opinion on being rich in Italy 2017 | Statista (2024)

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Opinion on being rich in Italy 2017 | Statista? ›

This statistic illustrates the opinion of Italians about the main factor which determines that a person is wealthy, in Italy in 2017. According to the figure, 47 percent of the respondents believed that a person can be considered rich when the annual income exceeds 50,000 euros.

Furthermore, the advanced country private wealth is one of the largest in the world. In terms of private wealth, Italy ranks second, after Hong Kong, in private wealth to GDP ratio. Among OECD members, Italy has a highly efficient and strong social security system, which comprises roughly 24.4% of GDP.

In Italy, the average household net wealth is estimated at USD 295 020, slightly lower than the OECD average of USD 323 960.

The Italian economy grew by 6.5% in 2021 and had recovered most of the pandemic-incurred output losses by year-end. However, the short-term outlook is clouded by protracted supply disruptions and sharply rising energy prices.

Northern and Central Italy became prosperous in the late Middle Ages through the growth of international trade and the rise of the merchant class, who eventually gained almost complete control of the governments of the Italian city-states.

Italy's main economic sector is services, which includes finance, tourism, and retail and comprises over 70% of GDP. This sector benefits from a strong tourism industry and a large and skilled workforce.

Its business district hosts Italy's stock exchange (Italian: Borsa Italiana), and the headquarters of national and international banks and companies. In terms of GDP, Milan is the wealthiest city in Italy, having also one of the largest economies among EU cities.

The wealthy in Italy tend to reside in several prominent areas renowned for their luxury amenities and high-quality lifestyle. Milan, as the financial and fashion capital, attracts affluent individuals to neighbourhoods like Brera and Porta Nuova for their upscale residences and thriving business environment.

What is considered wealthy by age? ›

Net worth is the difference between the values of your assets and liabilities. The average American net worth is $1,063,700, as of 2022. Net worth averages increase with age from $183,500 for those 35 and under to $1,794,600 for those 65 to 74. Net worth, however, tends to drop for those 75 and older.

Types of High-Net-Worth Individuals (HNWIs)

The very-high-net-worth individual (VHNWI) classification can refer to someone with a net worth of at least $5 million. Ultra-high-net-worth individuals (UHNWIs) are defined as people with investable assets of at least $30 million.

In contrast, the poorest 50% controlled 11.7% of total wealth in 1995, and 3.5% recently. This corresponds to a 80% drop in the average net wealth (from AC27,000 to AC7,000 at 2016 prices). Strong concentration increases were also recorded for the richest 10%, whose share went up from 44% in 1995 to 56% in 2016.

Between 2000 and 2019, the average wage in Italy experienced an increase, reaching almost 29,900 euros in 2019. However, in 2020 there was a decrease to 28,491 euros, before increasing again to 30,530 euros in 2021. Male managers represented the group of people with the highest earnings.

Is it expensive to live in Italy? Italy is one of the cheapest countries to live in. In fact, Italy is the 4th cheapest country in Western Europe. So how much does it cost to live in Italy?