The Monaco Monitor

Tuesday 24Th April 2007, H.S.H. Prince Albert II took part in the conference “Opportunities and Challenges in A Global Economy” organized by the economic Room of development (ICC). Facing an audience of Japanese decision-makers, H.S.H. Prince Albert II greeted the dynamism of the Japanese society which contributed to the development of a prosperous economy. H.S.H. Prince Albert reminded the main features of the economic life of Monaco, in particular the positive aspects of Monaco’s financial market and the urban development project aiming to extend the territory on the sea. (more…)

On April 25, 2007, Chinese Premier Wen Jiabao met with Monaco Head of State Prince Albert II in Ziguangge, Zhongnanhai. Wen said China and Monaco had always respected each other and treated each other as equals with bilateral ties deepening continuously despite far distance and large disparities on size, population and social systems. He said currently bilateral ties enjoy a sound basis and broad prospects for development as well. China would like to continue high-level contact with Monaco and expand cooperation in finance, insurance, tourism and environmental protection, so as to promote bilateral ties for the benefit of both peoples, said Wen. Albert II expressed hope that both sides will deepen friendship, expand cooperation and achieve lasting development of bilateral ties. Foreign Minister Li Zhaoxing and other officials attended the meeting. 

The second edition of the Ever Exhibition, dedicated to ecological vehicles and renewable energies attracted over 5400 visitors to Monaco between 30th March and 1st April, according to the first estimations of one of the organizers of the event, the association MC2D, and MITI. 

According to MC2D, the event generated a turnover of 220 000 euros (excluding subsidies and sponsors) and 450 guest nights spent in the Principality. We are not yet aware of the number of contracts signed by the 40 exhibitors, companies and individuals taking part in EVER ‘07. The event gave scientists the opportunity to meet up to talk about various topics such as bio-fuels, wind energy and congestion charges. The public were able to find out about the latest technical innovations within the fields of renewable energies and clean mobility and other ecological brainwaves, such as Denis Eudeline’s solar oven and cooker, who are currently looking for opportunities to commercialize it. (http://www.four-solaire.fr/). Last but not least, an agreement was signed during the exhibition between the association MC2D, the French company Objectif D and the Monegasque State to present a Sustainable Development House to the public of Monaco. The house will be showcased in the Principality’s Salle du Canton from 23rd November to 2nd December 2007. The purpose: to make children and families aware of how to manage and save energy. The Monegasque Government has been increasing its efforts to protect the environment, particularly within the sphere of transport.

What do you do when a country’s economy is growing at 5 to 10 per cent a year, but you have barely two square kilometers of surface area in which to accommodate this expansion? Answer: talk to the neighbors. In a wide ranging, informal talk for the Monaco Press Club on Tuesday morning, chaired by President Bernard Spindler, a relaxed Minister of State Jean-Paul Proust, discussed his ideas on how Monaco can go forward into the future. (more…)

Monaco Info, the Press Centre’s cable channel has taken a gigantic step forward, after broadcasting on a local level (within the Principality), it now reaches out to a “universal” audience over the web. (more…)

The TV channel Monaco Infois widening its coverage area and thanks to internet is reaching beyond the Monaco borders, becoming available throughout the world. The public can now find Monaco Info on the website of the Government’s Press Centre by logging onto: www.presse.gouv.mc then clicking on the heading “Monaco Info en ligne”. (more…)

Monaco is breaking through its barriers in order to charm its regional clientele. Immediately after announcing the 2006 results, the Monaco Tourist and Convention Authority is organizing a day dedicated to the Principality in the Hippodrome of Cagnes-sur-Mer on Saturday 24th February from 11.45 a.m. (more…)

The Monaco Government held its traditional press briefing on Monday 12th February. A dossier regarding the modernisation of the public services featured as number one priority amongst the issues raised. The Minister of State announced that an opinion poll involving 400 people (residents of the Principality, including Monegasque and non Monegasque citizens) would take place on 12th and 13th March 2007 in order to get their opinion on the public services. (more…)

Monaco. In another time, acrobats and go-go dancers would probably not have entertained a chef at his 80th birthday party. The food would not have been prepared by chefs from Japan, Australia, Norway and Spain — as well as France. A chef’s birthday would not have been an occasion for anything like the three days of hoopla this past weekend in Monte Carlo. (more…)

With an increase of 14% in the number of overnight stays between 2005 and 2006, figures for the tourist industry in the Principality of Monaco have continued to develop positively. These results set 2006 as the new year of reference as they have exceeded by 7% those achieved in the record year of 2000. During the annual meeting of overseas representation offices, Michel Bouquier, Chief Representative for Tourism, gave a full assessment of the past year.  

In 2006, Monaco accommodated just under 310,000 tourists, in other words, an additional 115,000 nights compared to 2005 with a total of over 900,000 overnight stays. In terms of market share, the Italians are the best clients as far as hotel stays are concerned (19%), followed by the French (18%), the British (15%), North Americans (13%), the Germans (5%) and the Russians (4%). A parallel should be drawn between these positive results for 2006 and the 12% increase in hotel facilities, i.e. 90,000 more rooms in 2006 compared to 2005. Figures for pleasure tourism were particularly impressive with +12% of additional arrivals (245,000 arrivals in 2006 compared to 219,000 in 2005). Figures for business tourism also showed satisfactory growth with +4% of arrivals and +6% of additional overnight stays. As for the local market, this sector currently represents 11% of the market share. There has been an annual increase of over 35% in the number of passengers within the cruise industry, i.e. 47,000 additional tourists. 

Last but not least, various initiatives were introduced overseas throughout 2006, particularly in the Far East including the opening of a representation office in Shanghai, the launch of a traveling exhibition dedicated to Princess Grace in nine major cities in Japan and the first market survey in India.