The latest retail traders survey shows that the business climate continues to flourish in Monaco. The car industry remains the strongest of all retail trades, experiencing significant growth over the past years.
The Metropole Shopping Centre is one of many luxurious shopping options in Monaco
According to the latest statistics by IMSEE, there were 801 retail establishments in operation in 2017, representing 8.6% of the total in the Principality.
More than 29% of those were created between 2013 and 2017 and half are less than 10 years old. The average age of these institutions is 14.4 years, compared to an average of 13 across all sectors.
With a total turnover of 1.4 billion euros in 2017, retail trade is the fourth largest contributor to the local economy, excluding sales and insurance. It’s positioned just behind wholesale trade; construction, scientific and technical activities; administrative and support services. It accounts for 10.6% of the Principality’s total revenue.
Photo: Monaco Life, all rights reserved
The automotive sector and personal equipment stores posted the strongest growth in terms of sales since 2001. In 2017, automotive sales accounted for 33.2% of all retail sales, six points more than in 2010. Automotive trade has seen an average annual growth of 7.2% since 2001, compared with 3.6% for traditional retail trade.
Retail trade is also the 7th largest sector in terms of employees. In December 2017, it recorded 2,769 employees, or 5.8% of the Principality’s total population. The majority of those are women, who represent 54.1% of all retail employees – the second most female dominated sector after the administration, education, health and social action industries.
But the proportion within the sectors varies greatly: 73.8% of employees in personal equipment stores are women, however that rate drops 22.1% in the automobile industry.
Malizia II-Yacht Club de Monaco returns to competition
After four months in the yard for nearly 5,000 hours of winter maintenance, the Principality of Monaco’s IMOCA 60’ racing yacht, Malizia II-Yacht Club de Monaco, is back on the race circuit for the season with Boris Herrmann at the helm.
A packed programme lies ahead in 2019 with three IMOCA Globe Series events (Bermudes 1000 Race, Rolex Fastnet Race and Transat Jacques Vabre) as well as the Rolex Giraglia and Défi Azimut.
Along with Boris Herrmann, 16 other sailors representing six nationalities are set to take the start of the Bermudes 1000 Race, a qualifier for the 2020 Vendée Globe and the only solo event of the year.
A battle over a distance of 2,000 miles from Douarnenez to Brest, via the iconic Fastnet lighthouse (Irish Sea) and a waypoint off the Azores, the race should take around a week.
Initially set to start on the Wednesday, it was postponed to 5.00pm on Thursday 9th May. The decision was taken by the Race Directors due to adverse weather conditions.
Currently lying 4th in the new IMOCA Globe Series World Championship after clinching 5th place in the Route du Rhum, the Yacht Club de Monaco member intends to take full advantage of the Bermudes 1000 Race to ramp up the miles.
A good result could even propel him further up the championship rankings, given that three of the contestants in front of him in the provisional ranking (Paul Meilhat, Yann Eliès and Alex Thomson) will not be on the start.
“I have great expectations for this race, even though it is only my second big solo experience in the IMOCAs after the 2018 Route du Rhum,” says Boris, who has his sights set on being the first German to compete in the Vendée Globe in 2020. “We won’t see the new IMOCA fleet yet, but the Bermudes 1000 Race will be the first big test in 2019. I can see how I measure up against top competitors like Sam Davies, with her new foils, and Sébastien Simon, in his first solo outing in the IMOCA class.”
The start of the Monte Carlo Rally will return to Casino Square as organisers announce that a quarter of the route has changed and racing fans are in for an exciting ride.
Photo: Media ACM
The Monte Carlo Rally is the first date on the 2020 calendar of the FIA World Rally Championship (WRC), and this year the Organising Committee at the Automobile Club of Monaco (ACM) has made the race more compact and even more selective.
After two and a half days of recce, from Monday 20th to Wednesday 22nd January, all competitors cleared to race will be able to test in race conditions from 4pm during the Shakedown session. This will take place on the very same portion of road used since 2017, the Route de la Garde in Gap, the partner host-city for the 7th consecutive year.
The official start of the Monte Carlo Rally is scheduled for the following day, Thursday 23rd January, on Casino Square in Monaco at 5pm. It follows complaints about Monte Carlo not being a location for the early stages of the competition. Last year’s event began in Gap instead of Monaco’s prestigious Casino Square, which had previously hosted the start since 2015.
The first nightly leg will include some interesting stages in the Alpes de Haute Provence and Hautes Alpes departments that are well known to nostalgic fans: Malijai – Puimichel and Bayons – Bréziers.
Photo: Media ACM
On Friday 24th, crews will be heading south-east and east of Gap for the second day, with 122.9km of stages spread out over the same two departments. This will be the toughest day of the rally, with two loops of the same three stages: Curbans – Venterol, the brand new Saint-Clément-sur-Durance – Freissinières, and finally Avançon / Notre-Dame-du-Laus.
On race day number three, the north-east and south-east of Gap will be on the menu with 75.38km of special stages. The loop, to be taken twice in the day, will be made during two famous tough stages: Saint-Léger-les-Mélèzes / La Bâtie-Neuve and La Bréole / Selonnet. Crews will be faced with the difficult choice of tyres, depending on the weather. Then, after a stop at the Gap-Fontreyne Service Park, at the end of the afternoon, the remaining crews will head back to the Principality of Monaco.
The rally concludes on Sunday 26th January with four stages of 64km through the steep hills of the Alpes Maritimes. Crews will race twice through La Bollène-Vésubie / Peïra-Cava and La Cabanette / Col de Braus, which will be used as a Power Stage at the end of the second loop.
At 3pm, all crews will be honoured and rewarded at the Prize Giving Ceremony on Quai Albert 1er.
The Monaco Ambassadors Club was created almost half a century ago under the leadership of Princess Grace. The aim: to promote the international influence of the Principality.
The MAC, as it is otherwise known, has always united a prestigious circle of influential people to serve as ambassadors. Now, under the patronage of Prince Albert II, their aim is to share Monaco’s main principles of sustainability and technology.
But with an image firmly rooted in the 1980s, it was time MAC undergo a renaissance, and that came in the form of a new president, a new board, a new logo and a new website.
Monaco Lifesat down with MAC’s new leader Christian Moore, president of Superyacht TV and son of legendary actor Sir Roger Moore, to talk about the club’s new image and his vision for the future.
MAC President Christian Moore (centre) with the new board
Monaco Life: Why has this year been a significant one for MAC?
Christian Moore: This year I took over the presidency from Alexander Moghadam, who for 10 years really helped to build this club and give it a backbone. When I joined the board in 2011, we had about 67 members. Now we have grown to over 400. My aim was to refresh the club, to bring in a new board, which we helped put together with Mogadham, and we were very specific in choosing significant players for what we wanted to do.
So now we have built a team with Manon Delpont as assistant club manager and Catherine Bernaz as our office manager. This has increased what we are capable of doing as it is no longer just one person. We have a social media company managing us and we have legal representation now. Within our board we have Alessandra Sparaco, who is secretary general and in charge of the flair of the club and the aesthetics of our events. Christian-Alexandre Rosengart is our treasurer and is also responsible for corporate sponsors, which is increasing. Then there’s Mark Sandel, who is building the infrastructure around our rule books, for example how we have our members conduct themselves, and how we interact with the government and political situations not just within Monaco but also France and US.
And obviously within all of this, we are strengthening what the club should be, and that is to represent the best interests of Monaco, both socially – in terms of how life is here – but also business wise, and being able to relay the message of our Prince and honorary president, Prince Albert, whose core principles are sustainability and technology. So the club this year is playing a much more significant role in getting that message out, and I certainly have plans for MAC which will hopefully come together in the coming years.
Band performing at the annual MAC summer party
Who are the members of MAC?
We have a huge range of ambassadors and they are predominantly all entrepreneurs. The higher echelon of Monaco joins the club to be part of the social scene but also to relay the message of Monaco, which is what it means to be an ambassador. A large majority of ambassadors are consulates and ministers; the foundations are members as well, and then our members range from businessmen all the way to ex politicians and former presidents.
What is the proportion of female members?
It’s about 40:60.
MAC’s 2019 summer party
How different is MAC from other social clubs that exist in the Principality?
Other clubs don’t have a mandate that is specific from the Prince and ours is to emulate the values of Monaco. In essence, all members become ambassadorial representatives of Monaco, so it is about being able to bring people in from the outside, people who wish to see Monaco. We serve as a welcome mat organising social events as well as educating our members on the new regulations in Monaco, such as taxation, but also how the government works here, and basically understanding the core values of Monaco beyond just having fun.
How do members receive that information?
Each year we organise an event, for example at the Conseil Nationalwhere president Stèphane Valeri gives us a long discussion about how everything works here. We also have a new websitethat gives information to our members in a more efficient way. We have also teamed up with Monaco Life as our official media sponsor, who will be producing a monthly newsletter to provide members with up to date news and information.
Outside of that, every event has an intellectual element to it, with presentations on, for example, sustainability from the foundations, the government or the Prince himself.
Monaco Life Publisher Eric Brundage addressing the MAC annual summer party where it was announced that Monaco Life is the club’s official media partner.
How many events are there a year?
We organise around 10 events a year, but we are looking to grow on that. We want to expand the club to serve the purpose which we have been asked to do, and that is to facilitate business-to-business here in Monaco, but from the outside. We are a club but we are also a non-profit association.
Tell us about the rebranding and why you felt the need to refresh your image?
I think the club was generated on the back of the most popular club in the 70s, the Pan Am Club. So the logo, the image of the club, was a little bit dated. We brought on board the very talented branding expert Jean-Paul Goodwin, who basically modernised our brand and shaped it into something that can fit across the board and satisfy the curiosity of people. I think it’s like comparing the music of the 80s to the music of today, it’s not necessarily better, it’s just different.
New MAC logo
So you have a new logo and new branding, what else is different for members?
We have a very sophisticated new website with a CRM system that will allow each member to communicate with others in an easy, private space. The new communication tool means you don’t have to worry about handing out business cards all the time. We are hoping that this will create an environment and culture within the club that will help it grow even further and in the right direction. What we like to do is build our presence with charitable missions here in Monaco, but specifically we deal with what we think will be the most beneficial for the government, and those will be in the areas of sustainability and education.
Our website will consolidate with Monaco Lifethe core values of the Principality as well as useful details, such as where you can shop, what are the latest procedures and protocols, and travel information. We also have a partnership with Quintessentially, giving our members a lot more than they have ever had before, in accessing the concierge service available to them. Previously, our members would simply attend events. Now, we want them to be more engaged in Monaco and I think a lot of members are very keen to do that.
What is your 10-year projection for the club?
The presidency is a 10-year stint so I am hoping to have the club in multiple cities around the world before I leave. I would like to have a membership base where we don’t exceed 4,000 to 5,000 members worldwide, in London, New York, China, Shanghai. The most important topic of today is the environment and Monaco is taking great steps in that area, so we aim to help propel that message out in those very cities.
Henry Cookson is the founder of luxury adventure travel company Cookson Adventures and is a dedicated explorer and a Guinness World Record holder for the first expedition to the Southern Pole of Inaccessibility, the exact centre of the Antarctic Continent.
Just off Western New Guinea, where the emerald green waters lie, is a little-known archipelago in Indonesia called Raja Ampat. If it is remote you are after, then this is exactly what I would recommend.
I’ve been there a couple of times, once with clients from my company and once travelling on my own. I’d return tomorrow, if I could.This beautiful collection of islands is located at the convergence of the Indian and Pacific Oceans, making its coral reefs the most abundant and splendid on earth. And herea thousand scattered, jungle-covered islets offer a serenity unparalleled in the western world.
One of my greatest passions is scuba diving. There’s something very special about the sensation; the freedom of being suspended in the vast expanse of an ocean is like flying underwater.
Creatures and plants of the Great Barrier Reef
Raja Ampat is a diver’s paradise. The rich and vibrant reefs are teeming with life. Sunken Second World War planes dot the sea bed. Every hue and texture imaginable are present amongst the kaleidoscopic corals and schools of fluorescent marine life, ranging from colourful nudibranch sea slugs to shoals of Maori wrasse to six of the world’s seven species of sea turtles.
Using our network of experts, we can give guests access to areas that others can’t. Guests can board a traditional phinisi yacht and head to the most varied snorkel and dive sites of the archipelago. We also have connections to local marine biologists and conservationists for gueststo contribute to vital conservation projects whilst exploring these protected marine areas.
A beautiful sunset silhouettes limestone islands and the bow of an Indonesian schooner in Raja Ampat, Indonesia. This remote region is known for its high marine biodiversity and fantastic scuba diving and snorkeling.
Among them is a project to combat rampant shark finning and unchecked destructive fishing which has resulted in a larger number and greater diversity of fish, coral, and molluscs than anywhere on earth. A single football field-sized patch of the region’s reefs has nearly five times the number of coral species as the entire Caribbean Sea. Its shark populations – a keystone species vital to the ecosystem’s health – have rebounded after years of persecution.
Throughout the region there are marvels to see at every turn. In the Dampier Strait, strong currents bring nutrients through this channel of water, attracting megafauna such as manta rays, reef sharks and, occasionally, even pilot whales. The shallow waters of Wayag Lagoon are the best place to swim with swirling sharks before enjoying local fish and vegetables cooked up on the beach.
Amongst the Fam Islands, guests can spot the pygmy seahorse or the wonderfully named wobbegong, also called the carpet shark. At sites like Melissa’s Garden and the Penemu Wall gorgonian sea fans grow up to three metres long and blow like trees in the currents, while small iridescent fish inspect the reef’s nooks and crannies. Around the islands of Kawe, which sits on the equator, the seas boast a spectacularly complicated underwater topography, making them a haven for snorkelers.
A snorkeler explores a healthy, shallow coral reef in Raja Ampat, Indonesia. This tropical region is home to extraordinary marine biodiversity.
For those who are truly looking to elevate their experience of Raja Ampat to the next level, I’d advise clients to add a submersible to their exploration. I’m proud to say that my company has been leading private submersible travel ever since we arranged the first ever private submersible dive in Antarctica.
Cookson’s submersible pilots have taken various vessels to different depths in some of the world’s most unexplored waters. Journeying into the unknown in this manner is unlike anything most will ever experience.
Peacock Mantis Shrimp
On land, the archipelago is dominated by four islands: Salawati, Batanta, Waigeo and Misool, collectively known as the Four Kings. Home to over 800 species, the islands offer one of Mother Nature’s greatest exhibitions. Birds of paradise such as great-billed parrots, and marbled frogmouths parade their magnificent plumage and a cacophony of birdcalls rises from the jungle. But to really see them in their natural habitats, you need one of only a few local guides.
Even a simple hike to see the iconic limestone karsts scattered across the islands’ topography can be a magical experience when you know the best views.
Raja Ampat holds some special memories for me and, despite the many parts of the world I feel are yet to explore, it’s a corner I long to return to.
Henry Cookson is the Founder of Cookson Adventures. For more information or to enquire about expedition possibilities, visit: https://cooksonadventures.com.
Radamel Falcao could soon be on his way out of Monaco. After taking his team to victory on Saturday night, the Colombian striker admitted he is considering leaving Ligue 1 if an appealing offer comes along.
ASM head coach Leonardo Jardim with captain Radamel Falcao. Photo: AS Monaco FC
Falcao scored the match winner against Sampdoria on Saturday night, giving his team a win in the final ASM preparation match before the start of the League 1 championship on Friday against Lyon. Thousands gathered at the Stade Louis II for the final of the first edition of the Philipp Plein Cup and were also able to witness the first steps of Benjamin Lecomtein his new environment, after joining ASM in July.
But it isn’t Falcao’s goal that has the media buzzing, it is his interview with Monaco Matinafterwards during which the captain revealed that he is looking for a longer deal which will give him more security.
Photo: AS Monaco FC
“The truth is that I have one year left on my contract and the club has not offered me an extension,” said the 33-year-old. “So I need to think about my future, my family. I am in the process of assessing the offers that have been made to me. These are good opportunities for my career. I need to think about my family… I have only one year left on my deal and it is complicated for a player of my age. I hope to find a solution for me and for Monaco.”
Asked about the idea of waiting until January to join a free club for the following summer, the Colombian rebuffed: “No, there are good offers.”
Falcao’s comments directly contradict the words of club Director General Oleg Petrov, who just a few days ago told AFP: “Several clubs, not only Galatasaray, are interested in Falcao – our captain and one of our best players. It’s important for us that he stays, unless an exceptional offer comes in. If he leaves, we would need to find a player of his calibre to replace him”.
The club which has been most strongly linked to Falcao is Galatasaray, although there has been talk that he would return to Porto. There is also a chance he could come back to LaLiga, possibly to Valencia, who are looking to strengthen their frontline.
🔙📽️ Le but ⚽️ de @FALCAO qui donne la victoire aux Rouge & Blanc face à la Sampdoria 👊
Meanwhile, Monaco are reportedly keen on signing Juventus goalkeeper Mattia Perin after his proposed transfer to Benfica fell through. Perin was all set for Benfica until they pulled out of the deal, citing a shoulder problem in his medical.
Aston Villa then held talks with the 26-year-old last week, but the Premier League side ultimately brought in Tom Heaton from Burnley.
Consequently, according to Gazzetta dello Sport’s Nicolo Schira, this has left the path clear for Monaco to make their move.
Schira explains that a deal could be agreed on the proviso of a season-long loan with a fee and an option to buy next summer.
On the other hand, the Principality outfit recently splashed out €13 million on shot-stopper Benjamin Lecomte, while they still have Danjiel Subasic and Diego Benaglio on their books.
All the headlines and highlights from Monaco, direct to you every morning
