Mountain regions are generally seen as depopulating. However, in the European Alps, a new migration trend can be observed that may represent a reversal of out-migration from these regions. The in-migration of so-called new highlanders brings people from lowland urban and peri-urban areas to mountain regions to live and work. Research on the economic and social contributions of these new highlanders is sparse, and there are no studies that focus on their entrepreneurial activities. This study examined the characteristics and contributions of new highlander entrepreneurs and found that they are unlike traditional amenity migrants who migrate because of quality of life. New highlander entrepreneurs migrate not only for quality of life reasons, they moreover follow business opportunities and contribute to the economic and social life of their chosen locations. Based on attributes such as personal circumstances, recognition and exploitation of opportunities, business strategies, and economic and social contributions, we grouped new highlander entrepreneurs into 4 categories and explored their reasons for migrating and other characteristics. We conclude that mountain regions represent viable locations for entrepreneurs, despite the many disadvantages associated with this peripheral context.