As part of a number of measures to support the economy, the Prince’s Government repeated its Carlo incentive operation at the end of 2021. This involved paying an exceptional bonus, converted into vouchers on the Carlo application, to around 10,000 civil servants, state and municipal employees, retired civil servants and non-medical staff at the Princess Grace Hospital Centre.
This amount, varying from 350 to 650 euros per person, can be spent exclusively in shops in the Principality before March 31. For each transaction carried out, the customer receives cashback of five percent that he or she can spend again in shops affiliated with Carlo.
The objective is both to support the purchasing power of staff while boosting local consumption in order to support the Monegasque economy.
Out of a total amount of 6.5 million euros for the state bonus paid last December, to date, the amount of 4.3 million has already been spent in the 395 partner businesses of the Carlo application. This has provided valuable support for the local economy.
Since the launch of the operation on December 1, the number of daily transactions has doubled compared to last year. The application has accumulated a record number of 96,000 transactions, which represents a total of nine million euros injected directly into the local economy and generated 630,000 euros in cashback, which will in turn be spent with partner merchants.
This virtuous circle desired by the Government is now an integral part of the purchasing habits of customers in the Principality, the Government enthused in a press release.