The album was released in 1965 by Columbia Records, at the peak of Tony Bennett's career. The title reflects the theme of luxury and international travel, inspired by the title track 'If I Ruled the World', which Bennett popularized from the musical 'Pickwick'.
Production was handled by Ernie Altschuler, who worked with Bennett on several albums of the era. The record features orchestral arrangements by Don Costa and Ralph Burns, blending pop and jazz standards with a focus on sophisticated and elegant melodies.
Although not one of Bennett's best-selling albums, it received positive reviews for its thematic cohesion and the singer's vocal quality. Songs like 'The Very Thought of You' and 'I Wish You Love' became fan favorites.