The construction sector employed almost 470 more people at the end of December 2022 than in 2021, an increase of 8.3 percent, reaching 6,133 employees by 31 December 2022. With over 11 percent of the workforce, it is the Principality’s third largest employer.
Over the year 23 new construction companies were formed and 13 were closed. The total number of firms working in construction at the end of 2022 was 510, of which nearly 100 work on the construction of entire buildings.
The growth in revenue in the construction centre from 2021 to 2022 was 14.5 percent, to a total of almost 2.5 billion euros. The sector accounts for 13.1 percent of the Principality’s total turnover. The total income of the sector has almost doubled since 2013, when it stood at 1.3 billion euros.
The total number of employees in construction stood at 6,133 at the end of 2022, 11 percent of the total workforce. Interestingly, only 23 Monegasques work in the sector and 90 percent of construction workers. Italians and Portuguese workers each form 20 percent of the total.
PHOTO: Cranes over Mareterra Jack Brodie