The latest Club Eco Monaco conference, held on February 6 at MonacoTech, explored the significant economic impact of culture on the Principality…
The event featured insights from key figures in Monaco’s cultural sector and Minister of Interior Lionel Beffre, who underlined Monaco’s exceptional commitment, allocating 4.65% of its budget to culture—a striking contrast to France’s 1.5%.
The panel highlighted Monaco’s cultural diversity, from avant-garde exhibitions at the Nouveau Musée National de Monaco (NMNM) to internationally recognized festivals like the Printemps des Arts Monte-Carlo. Guillaume de Sardes, Head of Development at NMNM, emphasized how the museum fosters an entire ecosystem of local artisans and businesses, reinforcing Monaco’s attractiveness to art collectors and cultural patrons.
From the art market perspective, Opera Gallery, which has operated in Monaco since 2008, caters to discerning collectors and stages the exclusive Monaco Master Show, a prestigious event featuring works by legendary artists. Meanwhile, Artcurial, active in Monaco since 2006, contributes to the economy through luxury auctions that generate VAT revenue and collaborative events like Monaco Art Week and sculpture sales with Monte-Carlo SBM.
A key player in Monaco’s cultural scene, the Grimaldi Forum hosts 40 cultural events annually, attracting between 120,000 and 150,000 visitors, contributing an estimated €10 million to Monaco’s economy. It also serves as a hub for the Ballets de Monte-Carlo, the Philharmonic Orchestra, and the Opera, reinforcing Monaco’s status as a cultural powerhouse.
With ongoing investments such as the expansion of Villa Sauber at NMNM, the unwavering support of the Princely Family, and H.R.H. the Princess of Hanover’s leadership, Monaco’s cultural influence continues to thrive, reinforcing its global appeal.
