Monaco: a dynamic and diversified economy

 

During the 20th century, the Principality of Monaco experienced exceptional economic growth.A dynamic hub of economic activity and a generator of employment, Monaco draws in several thousand employees every day.
 

The Principality has chosen to differentiate itself through the quality of its amenities. This approach has enabled the economy to develop, attracting investors, entrepreneurs and skilled labour to the Principality.

 

Key figures for the economy in 2009:

 

Employment

  • 48,334 jobs (public and private) for 32,020 inhabitants.
  • Over 33,000 are French
  • Over 3,500 are Italian

 

2008 GDP (2009 GDP available on 15/01/2011)

  • 3.355.150 K€
  • - 11,36% vs 2008

 

Poids de chaque secteur dans le PIB 2009

 

Turnover

  • 13,159,677 K€

 

Activities in 2009

 

One of the main features of the Monegasque economy is its wide range of activities:

 

The retail trade
  • 1,156 establishments
  • 1.53 billion € in turnover

 

The industrial sector

  • Food, chemical, pharmaceutical, mechanical, textile, electrical…
  • 112 establishments
    • 3,057 jobs
    • 832 million € in turnover

 

Solutions for the development and selection of these companies have been implemented (multi-storey factories and companies chosen for their non-polluting activities).

 

Services

  • IT, telecom, transport for maritime activities, banks, insurance
  • Banks, finance and financial management companies
    • 88 establishments
    • 75 billion € in asset management

 

Tourism

  • Flagship sector of the Monegasque economy
  • 264,540 arrivals and 778,451 nights
  • 189 cruise ships made a port of call with 235,904 passengers stopping off
  • 495 congresses and meetings (business tourism) for 51,574 participants
  • Hospitality facilities: Grimaldi Forum, Rainier III Auditorium, Sporting Monte-Carlo, Sporting d’hiver, Salle du Canton…
  •  Number of hotels
    • 2* : two:
    • 3* : five
    • 4* : four
    •  5* : four

 

Business tourism is fostered by the organisation of key annual meetings:

  • In January: The Imagina event (European trade show for the creation of digital content),
  • In June: the Monte Carlo International Television Festival,
  • In September: the Monaco Yacht Show, with over one hundred yachts on display in Port Hercule,
  • In October: Sportel (sports programme market for television),

 

 

More information on:

www.gouv.mc > files > economy
www.gouv.mc > files > reports and statistics
www.visitmonaco.com
www.cde.mc
www.grimaldiforum.com
www.sbm.mc
www.yacht-club-monaco.mc
www.mairie.mc
www.federation-patronale.mc