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Month: January 2023

New monthly survey to gauge manufacturing industry in Monaco

by: Cassandra Tanti
30/01/2023

The Monaco Institute of Statistics and Economic Studies (IMSEE) is about to start conducting a new business survey to gauge the performance of Monaco’s manufacturing industry. The results will be used to illustrate the business climate in this sector on a more regular basis.

The Monaco government announced the creation of the new survey on Monday 30th January. It is aimed at all economic agents in the Principality who are active in the manufacturing industry, and includes sectors such as crafts.

Each month, the businesses will be sent around 10 questions relating to different aspects of their activity, including production, stocks, orders, prices, workforce, and cash flow.

The results of the survey are likely to be published from 2024 and, like the Retail Trade Barometer which has been implemented since 2013, will be featured in monthly IMSEE publications.

IMSEE points out that only its authorised agents will have access to the responses, which will not contain any quantified data.

The first surveys will go out in early February.

 

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Photo credit: Volha Flaxeco on Unsplash

Jobs fair dates for Monaco’s booming hospitality sector 

by: Elsa Carpenter
30/01/2023

The Principality’s hotels and restaurants are looking for seasonal workers to fill the vast number of vacancies ahead of what looks to be an excellent year for Monaco’s hospitality sector.  

First up is the Employment and Training Forum (Forum de l’Emploi et de la Formation) at the Beaulieu-sur-Mer gymnasium on Thursday 26th January. Organised by SIVOM Villefranche-sur-Mer and in collaboration with Monaco Employment Services, the forum covers six municipalities and attracts more than 1,500 job seekers each year.  

Monaco’s biggest employer, Monte-Carlo Société des Bains de Mer, will be on-site, looking to meet and potentially interview candidates for roles at its portfolio of hotels, restaurants, casinos, wellness centres and nightlife hotspots. 

Other big names at the event include the Metropole Monte-Carlo Hotel, the Grand Hôtel du Cap Ferrat, the Royal Riviera and the Fairmont Monte-Carlo as well as employment agencies such as Adecco, the armed forces and security agencies, Super U, Fragonard, and the municipalities of Villefranche-sur-Mer, Beaulieu-sur-Mer and Cap d’Ail. 

Next up is a one-off recruitment drive at the Hôtel Metropole Monte-Carlo, on Tuesday 7th February from 11am to 6pm, for its newest haute-cuisine restaurant led by Chef Christophe Cussac. A complete range of roles are available, from Commis to Chef de Partie and a wide number of front-of-house positions. In a bid to attract the finest talent, the hotel is putting forwards its best care package for future employees, with travel and food allowances, the possibility of accommodation according to the profile of the applicant, and regular shift programming.

The third event is an in-house affair organised by the Fairmont Monte-Carlo. On Thursday 9th February, the Grand Salon will host a recruitment day from 9am to 6pm. Over 200 jobs are up for grabs, from roles at the Nobu restaurant and Nikki Beach rooftop attraction to positions in the health and fitness facilities, as well as housekeeping and receptionist posts.  

 

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Photo source: Fairmont Monte-Carlo/Facebook. This article was originally published on 24th January. 

 

New figures show average wealth of French population

by: Cassandra Tanti
30/01/2023

France’s statistics agency INSEE has documented the average wealth of the French population, and the results are certainly interesting.

In its report on 25th January, INSEE reveals that at the start of 2021, half of all households had gross assets of more than €177,200. Real estate accounted for 62% of this wealth, while the amount of wealth increased continuously with age until 60. It was a 6.7% increase on 2018, when the gross wealth of the top 50% was €166,100. 

The gross wealth of the richest 10% sat at €716,300, whilst the lowest 10% had a maximum of €4,400, or 163 times less. The wealthiest people in France – the top 1% – had a gross wealth of €2,239,200.

The report shows that wealth remains very unevenly distributed among the population: half of the most well-off households hold 92% of assets, the top 5% hold 34%, and the top 1% hold 15%, while around a third of households with the least resources own little or no assets.

Real estate accounted for 62% of the wealth of all households, whilst on the lower end of the wealth scale, 30% had little or no ownership of real estate at all. Nearly six in 10 French households own a home, giving them an average gross wealth 8.6 times higher than those who rent or are given free housing.

Financial wealth represented 21% of all wealth, with those at the lower end of the spectrum having an average of only €400 in savings, whilst the richest 10% having at least €150,000 in reserve.

The top 1% of households distributed their gross wealth in a specific way, with more financial assets (27%, compared to 20% for the other households) and professional wealth (34% compared to 7%), and relatively less real estate (36% versus 67%).

 

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Photo source: Anthony Salerno for Unsplash

Maserati MSG Racing’s struggles continue in Saudi

by: Luke Entwistle
30/01/2023

Maserati Monaco Sports Group Racing scored their first points of the Formula E season in Riyadh on Saturday, but continue to struggle to hit the heights of last season’s title challenge.

Edoardo Mortara, who last season was in contention to win the World Championship, was the man to get Maserati Monaco Sports Group Racing (MSG) up and running this season. After a disappointing opening weekend in Mexico City, the Monégasque brand once again failed to score a point in the opening race of the weekend in Saudi Arabia, but performed better on the Saturday.

The team are struggling to discover last year’s pace in the new Gen3-era. Both cars qualified in the Top 10 for the final race of the weekend, but both slipped back. Maximilian Günther, who had qualified 10th, could only manage 19th position in the race.

A late safety car disrupted the strategy of both cars, but Mortara, using attack mode during the final laps around the UNESCO World Heritage site of Diriyah managed to achieve ninth place, earning MSG two points.

The team’s team principal, James Rossiter, was happy with the progress made during the second race weekend of the season.

“After a difficult weekend, it’s nice to get some points on the board, although we’re still a long way from where we want to be. We took clear steps forward this weekend, and if we keep digging, I know that we can achieve the results that I know we are capable of,” he said.

The season continues at a maiden outing in Hyderabad, India, on 11th February, with Monaco’s MSG looking to climb further towards last season’s lofty heights.

 

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Photo by MSG

What to expect: mass pension reform strikes on the Riviera

by: Stephanie Horsman
30/01/2023

Mass demonstrations against the French government’s new pension reform proposals are happening across the country on Tuesday 31st January. Here’s what to expect on the Côte d’Azur. 

The list of strikers set to protest has filled out, with energy, health, transport and education all being represented in the nationwide walk-out. Needless to say, disruptions will be acute.  

The last strike on 19th January drew 20,000 protesters in Nice alone according to the CGT trade union, though the number set by the prefecture is a more modest 7,500.  

This next round will commence at 10am in front of the Théâtre de Verdure in Nice, and will move onto the Place Charles-de-Gaulle via Les Phocéens and Traverse Flandre Dunkerque, before finding an end point in Place Masséna. 

In Cannes, the strikers will also meet at 10am at the Pantiero esplanade and follow a route taking them past the mairie, the Quai Saint-Pierre and Boulevard Jean-Hibert before reaching Place Mistral, then turning back. 

TRANSPORT 

For those not involved in the strikes, Tuesday will be for a tricky day, especially for commuters. 

“Due to a national strike, the network will be disrupted all day,” announced Lignes d’Azur, the urban transport network of the Nice Côte d’Azur metropolis.   

No trams or buses on lines 5, 6, 7, 8, 11, 12, 14, 15, 16, 17, 18, 20, 21, 30, 32, 33, 35, 36, 37, 38, 57, 64, 70, 81, 99 or Cadam East will be running. The public transport service for people with reduced mobility, Mobil’Azur, will also be stopped and the Lignes d’Azur sales agencies and all Parcazur parking lots will be closed.  

“No service will be provided on the urban lines on Tuesday all day long,” followed up Envibus, the public transport network of the Sophia Antipolis Agglomeration Community. The same goes for Palm Bus, the network in Cannes, though they are yet to release specifics.   

Rail traffic is also due to be interrupted, with only half the trains running in the region. As for regional TER traffic, two trains out of 10 are to be expected to be in operation in all regions   

Even the Nice Côte d’Azur airport is expecting disruptions at both departures and arrivals, though nothing specific has been posted yet on the website. Still, passengers should check the status of their flights before going to the airport Tuesday.   

SCHOOLS 

In the education sector, unions such as the Union of National Education Professionals (SNALC), are also calling for action on Tuesday. SUD Education is proposing that the strike continue beyond 31st January. Nationwide, the estimate for those walking out will hit 70% in nursey and elementary schools, and 65% in secondary establishments.  

ENERGY 

France’s refineries have planned to block fuel shipments to depots, which the unions say will have a knock-on effect that won’t be felt until next week when shortages may again occur at the pumps.   

HEALTH CARE 

CHU Nice saw nearly 20% of its workers strike on 19th of January, and CGT says they have again filed a notice that they will be joining the marches on Tuesday, though exact numbers are not certain.  

SKI RESORTS 

This may seem a bit frivolous, but with the ski conditions the best they’ve been in ages, this news may make people think twice before planning a mid-week ski trip. The local Alpes-Maritimes ski unions, representing full-time employees, have said they will not be turning up for work on, though it’s hard to say how many seasonal workers will join in, meaning it is hard to determine the disruptions this will cause.  

 

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Photo by Monaco Life

Theatre: ‘Le Montespan’, a French classic

by: Cassandra Tanti
30/01/2023
On Thursday 2nd February, the Théâtre Princesse Grace will feature a performance of ‘Le Montespan’, based on the book by Jean Teulé.
In 1663, Louis-Henri de Pardaillan, Marquis de Montespan, and the charming Françoise de Rochechouart fall madly in love and are married. The debts pile up, and the Marquis have no choice but to attract the Sun King’s good graces. So, Louis-Henri goes off to war for Louis XIV and is delighted to learn that Françoise has been presented to the Queen in his absence. But he had not reckoned with the King’s roving eye, which has fallen on his tender wife, the new favourite!
Written by Jean Teulé, adapted by Salomé Villiers, directed by Etienne Launay, starring Salomé Villiers, Simon Larvaron and Michaël Hirsch.
See what else is happening in Monaco in our Events Calendar.
Photo by Monaco Life