Abstract: A shoe or boot (1) has improved thermal comfort and comprises: an upper (2) having, at the rear counter (7) and the front toe end, a layer (22) of memory foam including phase change microcapsules; an inner lining and an insole (13) impregnated with phase change microcapsules; and a reservoir (40), obtained in the sole (3) and separated from the inside of the shoe by a perforated insole part (14), filled up with phase change microcapsules, wherein said phase change microcapsules have a solidification temperature comprised between 18° and 23° C. and a melting temperature comprised between 24° C. and 32° C.