The latest Bulletin de l’Économie has been published by Monaco’s statistics office, IMSEE. Covering the first three quarters of the year, the report provides insights into the country’s trade, employment, tourism, real estate, and other vital sectors, comparing data with the same period in 2023, and revealing positive trends.
For the first time, the Principality’s trade volume surpassed three billion euros by the end of the third quarter, driven by a remarkable 356.5 million euro increase in imports. Despite a slight drop in exports, this milestone represents a 11.9 percent year-on-year growth. Luxury goods, such as jewellery and musical instruments, dominated exports (114 million euros), while the import of vehicles (212.6 million euros) led the charge.
Employment in Monaco is thriving, with private-sector jobs reaching a record 65,752, a 4.7 percent increase compared to 2023. Nearly 3,000 new roles have been added, with the hospitality sector and temporary work driving significant gains. Total hours worked have also risen by 5.1 percent.
Tourism continues to hit the high notes, with hotel arrivals rising to 272,200 visitors and room nights increasing by 5.3 percent. While cruise arrivals dipped, helicopter passenger traffic soared by 8.7 percent, reflecting a renewed appetite for luxury travel. Non-EU visitors now make up 47 percent of Monaco’s clientele, with Americans and Britons leading the way.
In real estate, fewer transactions didn’t stop the sector from breaking records. High-value deals pushed the total transaction amount to nearly three billion euros, with new property sales alone hitting 1.4 billion euros, a 37.4 percent increase. The average resale price climbed to an unprecedented six million euros, reinforcing Monaco’s status as a global hotspot for exclusive real estate.
Despite a slight 1.1 percent dip in turnover, Monaco’s economy is on an upward trend, with sectors like hospitality and sports clubs experiencing double-digit growth.
