Alba, Italy

Capital City

Living in this Italian wine powerhouse means paying premium prices - the Ferrero chocolate empire and white truffle trade have made sure of that. With 31,210 residents, this Piedmont town's economy runs on luxury exports and banking, anchored by the headquarters of Ferrero (makers of Nutella) and Italy's largest cooperative credit bank.

Local life revolves around wine and truffles, with 290 wineries cultivating 700 hectares to produce prestigious DOC and DOCG wines like Barolo and Barbaresco. The climate suits the grapes - humid subtropical with relatively mild winters around 5°C (41°F) and hot summers hitting 35°C (95°F), though November brings heavy fog. Despite its medieval towers and Roman ruins, this isn't a sleepy historic town - it's a serious business hub that happens to have excellent wine cellars.