Milan’s hosting of the Winter Olympics comes as the city is emerging as a new hub for global wealth. Originally driven by Italy’s favorable flat-tax regime, the city is now benefiting from stability, expanding financial activity and a cosmopolitan lifestyle that it hopes can rival London and Paris. Yet rising property prices and mounting cost-of-living concerns highlight the challenges that come with rapid growth. The real test for Milan may be finding a balance between prosperity and authenticity. (Source: Bloomberg)