The local economy was based on agriculture as well as emigration of architects and builders from the Gilardi, Lucchini, Berra and Camuzzi families into various European countries, especially Russia. Several of these builders were able to create major works in these foreign cities and rise to great fame. The pleasant climate and attractive location of the village attracted many illustrious personalities from abroad including the writer Hermann Hesse. A museum to the writer opened in 1997. From 1923 to 1927 it was the seat of the prestigious "Officina Bodoni", the printing shop of Hans (later Giovanni) Mardersteig. Since 1956, the village has been home to an international school, The American School In Switzerland, which, in 2014, has about 700 students of various nationalities. Because of its proximity to Lugano, Montagnola is now a kind of residential suburb of the city.