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Activity Sectors  

TODAY'S ECONOMY IS MODERN AND DIVERSIFIED.
IT HAS BEEN BUILT ALONG THOSE PRINCIPAL INDUSTRIES.

Tourism

For a long time, tourism has been directed towards a high-level individual clientele and still continues to couple a superior break with a
cultural and artistic environment. However, this sector has had to redeploy its resources towards business tourism, congresses and seminars which now represent a large share of the market representing 19% of all guest nights in 2009 even if this sector has been touched by the crisis.

Monaco has been keen to innovate within this area by offering multipurpose facilities of variable size such as the Centre de Congr่s Auditorium de Monte Carlo (C.C.A.M.) and the Centre de Rencontres Internationales (C.R.I.)… These facilities were increased on 20th July 2000 by the addition of the Grimaldi Forum (www.grimaldiforum.com).

The hotel industry is based on a potential of  2 600 rooms and in 2009 represented over
700 000 guest nights. As far as the market share is concerned, the French are the best clients for hotel nights (17%) followed by the Italian (16%), British (12%), North Americans (8,5%), Russians (8%) and German (4%).

Moreover the number of congresses steadily increased until 2000 and dropped between 2000 and 2004 then has known another increase between 2004 and 2008 but has dropped down again in 2009. Business tourism represents 19% of total guest nights against 22% in 2008.

The hotel sector has faced a drop down of more than 18% compared with 2008. Each hotel category has been affected by the unstable economic system.

Industry

Industry represents about 6,5% of the annual turnover. There are about 100 different companies in light, non-polluting industry. In the geographical, urban and demographic context of Monaco, these companies deserve special mention.

Most of these industrial firms are concentrated in a 250 000 square meter section of Fontvieille. These firms employ more than 3 000 people, which represents about 8,5% of salaried employees in Monaco.

Most of the industrial activity is concentrated in the following fields : chemicals, plastics, pharmaceuticals, cosmetology, electronic materials, mecanics, textiles and garments.

Trade & commerce

There are about 1176 retail stores and 400
wholesalers which make up more than 25% of the Principality’s total turnover. There is a large selection of goods offered in stores and boutiques of all categories and sizes.

Import-export activity has also seen a boom in the Principality. Trade and commerce, together with the hotel and restaurant industry represent 40% of the annual turnover.

Services

The banking and financial services industry has greatly expanded recently. Its foray into new market tools, notably mutual funds ; and the high concentration of financial professionals in the area have made the Principality a center of international business.

High performing and reliable banking system :
Financial activity is presently divided between on the one hand banks and financial services and on the other hand portfolio managers. Monaco holds a unique place in the banking world, on the one hand it is a sovereign state and does not belong the to European Union, but on the other hand it is integrated in the French monetary,
customs and banking system.

Shipping activities

Shipping activities represent 4% of Monaco’s annual turnover. It has become a true economic power in full expansion ; in 1990 it numbered 48 enterprises, 144 in 1994 and more than 170 in 1998. This industry employs more than 1,300 people. The largest of the international shippers have offices in the Principality

Other service activities
Many other service activities are based in Monaco. The most numerous are accounting, insurance, consulting, real-estate, trucking, and law firms.

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