After my last and busy business trip, a new
UPDATE! 20/08/12
I'm from Italy, so:

Italy

France (1986, 1990, 1991, 1998, 2000, 2001, 2004, 2005, 2006, 2007, 2008, 2009, 2011)

Monaco (1986, 2001, 2007, 2008, 2009, 2011)

Switzerland (1987, 1999, 2001, 2004, 2007, 2009, 2010,
2012)

United Kingdom (England & Scotland) (1996, 2004, 2008, 2010x2, 2011)

Ireland (1997)

Liechtenstein (1999)

Austria (1999, 2004, 2005, 2006, 2007, 2008)

Israel (2000, 2006, 2007)

Vaticano (Holy See) (2000, 2005, 2008)

Spain (2001, 2005, 2006, 2009, 2010x2)

Greece (2001, 2007)

Slovenia (2001, 2007, 2011)

Nederlands (2001, 2005, 2006, 2007)

Germany (2001, 2002, 2004, 2005, 2006, 2007, 2008x2, 2009x2, 2010,
2011,
2012)

San Marino (2003)

Finland (2003, 2008)

Estonia (2003)

Sweden (2004)

Denmark (2004)

Portugal (2005)

Belgium (2006)

Luxemburg (2006)

United States, to be more precise CA, NV, UT, AZ (2006) and NY, NJ, NV, CA (2011)

Czech Republic (2006)

Hungary (2007)

Bulgaria (2007)

Kuwait (2007x2, 2009x2, 2010, 2012)

Oman (2007)

United Arab Emirates (2007x2,
2009, 2010)

Qatar (2007,
2010,
2012)

Russia (2008, 2011x2)

Saudi Arabia (2008)

Jordan (2008, 2009)

Romania (2008x2, 2009)

Malta (2008, 2012)

Poland (2008, 2010)

Tunisia (2008)

China (2008, 2009, 2011x3)

Morocco (2009x2, 2010)

Iran (2009)

Croatia (2009, 2011)

Nigeria (2010)

Turkey (2010)
Gibraltar (2010)
French Polynesia (2011)
Hong Kong (2011x3)
Macau (2011)

Taiwan (2011)
Brazil (2012) only stopover

Chile (2012)

Cyprus (2012)
Akrotiri British Sovreign Base (2012)
Turkish Republic of Northern Cyprus (2012)
UPDATE +1

India (2012)
So
49+5+1 as a whole! (counting Gibraltar, Hong Kong, Macau, French Polynesia and British Sovreign Base as special regions; Nothern Cyprus quoted as extra)