I did a little research, from what AI tells me, this may be significant: Tax Incentives and Residency Programs: Italy has introduced attractive tax regimes, such as the flat tax for high-net-worth foreigners (a 100,000 EUR annual flat tax on foreign income for new residents), which has lured wealthy individuals to relocate. This "res non-dom" policy, combined with the allure of Italy's lifestyle, has contributed to an influx of millionaires.