The city of Milan, Italy, is known for its many beautiful neighborhoods. However, its population is primarily composed of businessmen. Milan has many large companies, and it is the country's most important business district. The city is home to the Italian headquarters of several global companies. Some of the major multinational companies located in the city include Accenture, AXA, BNP Paribas, Celgene, China Construction Bank, Herbalife, and SNC-Lavalin. Its city center is surrounded by the Spanish-era city walls. Its eight zones are also part of the city, which are a unified governing body.
The city's population is made up largely of foreigners. Before the 1999 administrative reform, the city was divided into twenty districts. In each of these councils, there is a President and Council, with each Borough Council President being elected contextually to the city Mayor. There are several laws that regulate Milan's urban organisation, including the Italian Constitution, the Municipal Statute, and the Unified Text on Local Administration.
Although Milan is considered a high-income city, the city has one of the highest rents in Italy. It is among the top ten most expensive cities in the world. In the city center, more than one-sixth of people earn over 120k per year. In addition to high costs, Milan's birth rate is falling to record lows, with 9,700 babies born in 2019. This is the lowest number in a century, and could be directly related to Italy's lack of policies supporting working mothers.