It hosted the Universal Exposition in 19. The city has been recognized as one of the world's four fashion capitals (the others being London, New York, and Paris) thanks to several international events and fairs, including Milan Fashion Week and the Milan Furniture Fair, which are among the world's biggest in terms of revenue, visitors and growth. Despite losing much of its political and cultural importance in the early modern period, the city regained its status as a major economic and political centre, being considered today as the industrial and financial capital of Italy. The city's role as a major political centre dates back to the late antiquity, when it served as the capital of the Western Roman Empire, while from the 12th century until the 16th century, Milan was one of the largest European cities, and a major trade and commercial centre, consequently becoming the capital of the Duchy of Milan, which was one of the greatest political, artistic and fashion forces in the Renaissance. Milan is viewed along with Turin as the southernmost part of the Blue Banana urban development corridor (also known as the 'European Megalopolis'), and one of the Four Motors for Europe. In terms of GDP, Milan is the wealthiest city in Italy, has the third-largest economy among EU cities after Paris and Madrid, and is the wealthiest among EU non-capital cities.

Its business district hosts Italy's stock exchange ( Italian: Borsa Italiana), and the headquarters of national and international banks and companies. Milan is considered a leading alpha global city, with strengths in the fields of art, chemicals, commerce, design, education, entertainment, fashion, finance, healthcare, media (communication), services, research and tourism. According to national sources, the population within the wider Milan metropolitan area (also known as Greater Milan), is estimated between 8.2 million and 12.5 million making it by far the largest metropolitan area in Italy and one of the largest in the EU. Its continuously built-up urban area (whose outer suburbs extend well beyond the boundaries of the administrative metropolitan city and even stretch into the nearby country of Switzerland) is the fourth largest in the EU with 5.27 million inhabitants. The city proper has a population of about 1.4 million, while its metropolitan city has 3.26 million inhabitants.

Milan ( / m ɪ ˈ l æ n/ mil- AN, US also / m ɪ ˈ l ɑː n/ mil- AHN, Lombard: ( listen) Italian: Milano ( listen)) is a city in the Po Valley in northern Italy, capital of Lombardy, and the second-most populous city proper in Italy after Rome.

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