The latest economic report by the Principality’s statistics office (IMSEE) records that 60,082 people were employed full or part-time in the private sector at the end of 2022, up by 5.4 percent from 2021.

As reported here yesterday, hospitality grew the most in 2022, but the shortage of employees in the sector meant that there were 300 fewer workers than in 2019, the last full year before coronavirus.

While hospitality turnover increased the most in 2022, by 49.8 percent to 288.4 million euros, it contributed less than wholesale trade (670.6 million), scientific and technical activities, administrative and support services (442.3 million), and construction (313.4 million euros).


After a two-year low, the real estate market was in clear progression in 2022. In volume, it increased by 18.2 percent with 520 transactions but remained below its 2014-2016 level (566).

In value, it reached the unprecedented amount of 3.54 billion euros after a 51.8 percent increase. This development was mainly due the new-build market, which quadrupled in volume and quintupled in value, bringing it to 88 apartments sold for 1.19 billion euros.

More moderately, the ‘old’ market also grew and accounted for 432 transactions (+3.6 percent) for 2.32 billion euros (+12.1 percent).


FILE PHOTO: The Mareterra project in progress