In 2026, London remains significantly more expensive for tourists than Milan across almost every category, including accommodation, public transport, and dining. London is consistently ranked as one of the world's most expensive cities; a mid-range hotel in central London can easily cost £250–£350 per night, and a standard meal at a sit-down restaurant often exceeds £25 per person. In contrast, Milan, while the most expensive city in Italy, offers much better value. You can find high-quality 4-star hotels for €150–€200, and the local "Aperitivo" culture allows you to enjoy a drink and a substantial buffet of snacks for as little as €15. Public transport is also much cheaper in Milan, with a daily metro pass costing around €7, whereas a day of travel in London’s Zones 1-2 is nearly double that. While both cities have ultra-luxury shopping and dining, the "floor" for expenses is much lower in Milan. If you are on a budget in 2026, Milan is the clear choice, whereas London requires a much larger financial commitment for a similar level of comfort and experience.