Neither Italy nor Australia is objectively "better," as the choice depends on individual priorities: Italy offers deep history, world-class food, and a lower cost of living, while Australia provides a multicultural vibe, strong work-life balance, outdoor lifestyle, and higher potential salaries, though with a higher cost for some goods. Italy suits those seeking traditional culture and affordability, while Australia attracts those valuing diversity, outdoor recreation, and career opportunities in a casual setting.
Both offer rich cultural experiences, but if you're after a more traditional, family-cantered lifestyle, Italy might call to you. If you thrive in a diverse, casual, and forward-thinking environment, Australia may be the better fit.
Australia has a GDP of $1.76T compared to $2.38T for Italy, ranking 14/197 and 8/197 by economy size, respectively. Australia has $875B in government debt (50.5% of GDP), compared to $3.22T (138.5% of GDP) in Italy.
The Italian economy may not be in great shape, but Italians certainly are, according to a ranking of the world's healthiest nations. The Bloomberg Global Health Index ranks Italy top of 163 countries, followed by Iceland, Switzerland, Singapore and Australia.
Italy can be an amazing place to live as an American if you're looking for a slower pace of life, a rich culture, and excellent food. However, the cost of living can be high in major cities like Milan and Rome, and you'll need a proper visa to stay in Italy permanently.
Australians intending to reside in Italy for more than 90 days must secure an appropriate visa. Common options include: Elective Residency Visa – For individuals who can financially support themselves without employment in Italy. Work Visa – Requires a job offer from an Italian employer prior to application.
Italy offers a range of lucrative investment opportunities for foreigners, from real estate and agriculture to startups and tourism. Its supportive investment programs, such as the Italy Investor Visa, make it a highly attractive destination for international investors.
Italians are among the earliest European immigrants to Australia. A wave of Italian migration occurred during the gold rush in the 1850s. Migration from Italy continued throughout the 19th and early 20th centuries, often as Italians sought better economic opportunities in Australia.
The countries that are considered part of the First World are North America (Canada, United States), Western Europe (Austria, Belgium, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, United Kingdom), East Asia (Japan, South Korea ...
Circulatory diseases remain the leading cause of death in Italy, followed by cancer. In 2022, Italy's adult smoking rate was slightly higher than the EU average at 19.6 %, marking a resurgence of smoking during the pandemic following a decade of gradual declines.
The richest country by GDP (PPP) per capita is often cited as Singapore, followed closely by Luxembourg, depending on the specific report and year, with Singapore leading in 2025 estimates with around $156,000-$157,000 per person, while Luxembourg is a strong contender just below that, highlighting small, finance-heavy economies as wealthiest per person.
Australia and Italy first established diplomatic relations in 1949 and are highly-developed, complementary G20 economies with robust international engagement across shared strategic, economic, and cultural interests.
The 7% tax rate applies to any type of foreign sourced income taxable in Italy, not just pension income. If you meet the requirements above, you can take advantage of a 7% flat tax rate on all your foreign earnings of any nature.
Places and Countries Like Italy – Summary
Italy has a highly developed social market economy. It is the third-largest national economy in the European Union, the 8th-largest economy in the world by nominal GDP, and the 12th-largest by PPP-adjusted GDP. The country has the second-largest manufacturing industry in Europe and the 7th-largest in the world.
Human Development Index (HDI)
Since 1990, Norway (2001–2006, 2009–2019), Japan (1990–1991 and 1993), Canada (1992 and 1994–2000) and Iceland (2007–2008) have had the highest HDI score.
What is Italy Known For? Top 20 Things Italy is Famous For
The state of Victoria has had Italian-Australian residents since the 1850s. Today, Sydney and Melbourne have the largest populations of Italians in Australia.
You are able to stay in Australia for up to 90 days. If you wish to stay longer, please refer to the information at the top of this page to see if there are any long-stay visa options. If there are none, please contact your nearest Australian embassy or consulate for more information on how to extend your stay.
Yes, $10,000 can be enough for a great trip to Italy, especially for one or two people for 1-2 weeks, depending on your travel style (mid-range to slightly luxurious) and if flights are included. It's a solid mid-range budget that allows for comfortable hotels, good food, trains, and some tours, but you'll need to budget tightly if flights from the US are part of that $10k, as airfare can be a significant chunk.
Under the "lavoratori impatriati" tax scheme a significant portion of qualifying income from employment in Italy is exempt from income tax. Specifically, 70% of gross salary or net profit is exempt from income tax, while the remaining 30% is taxable.