Monaco’s Digital Economy is booming, with the sector responsible for generating close to a billion euros in revenue in 2022.
According to the latest report by Monaco’s statistics agency IMSEE, the Principality now has close to 1,000 establishments in the digital economy.
There were 115 newly created entities in 2022, and 59 definitive strike-offs, bringing the total number of active establishments in the digital economy in Monaco to 984. That’s a 6% increase on 2021, or 56 additional entities, and it is 18% higher than the pre-crisis period of 2019.
Within 10 years, the number of digital establishments in Monaco has increased significantly by 68.8%. They now represent 8.8% of all economic activity in the Principality.
Advertising-Communication accounts for almost one in two of the digital structures, followed by Information and Communications Technology (ICT), which accounts for 39.8%. These two groups, according to IMSEE, record the most creations and definitive strike-offs, and more than one in 10 is included in the Content and Media groups, which had three additional entities enter the realm in 2022.
Digital revenue approaches €1 billion
Digital revenue reached as high as €919.9 million in Monaco in 2022, an increase of 5.7% compared to 2021. ICT again carried the weight with 61.8% and saw the most marked growth: +€37 million/7%.
Nearly a quarter of digital revenue was generated by the Content and Media sector, which grew by €12.5 million last year.
Advertising-Communication, which posted the strongest relative growth in 2021, stagnated at 0.4% in 2022.
Despite the increase in revenue, says IMSEE, revenue in the digital economy is yet to exceed that of the Monegasque economy which sits at 15%, compared to 4.9%.
The number of digital economy employees is on the rise
At the end of 2022, the digital economy in Monaco employed 107 more people than in 2021, an increase of 5.9%, bringing the total number of employees to 1,922.
According to the report, the increase is mainly driven by ICT, which saw an additional 72 employees and is the only group to employ more people than in 2019.
In the digital economy as a whole, more than seven out of 10 employees are men, which is almost 10 percentage points more than for all private sector employees.
The average digital employee
Almost nine out of 10 digital employees, or 1,660, live in France. This share is 7.5 points higher than that of the entire private sector workforce. The majority, 70%, live in the Alpes-Maritimes. Monegasque residents account for more than 10% of digital employees, a proportion that has increased on the previous year. Residents of Italy account for only 1.7% of the digital sector, compared to 8.7% overall.
With an average of 41.1 years, digital employees are slightly younger than the overall population of 42.4 years.
Modern tourists like modern experiences, and that is what they will find at this new project, the HIbride farm, located in the tranquil Luberon Natural Park.
Nestled between Aix-en-Provence and Cucuron, in the heights of the village of Ansouis and on a hill overlooking the village of Villelaure, is a fertile wine and olive-growing country home that takes visitors both back in time and into the future.
It adds an agrotourism feather to the cap of the diverse hospitality brand HI.
NEITHER PAST NOR FUTURE
This new jewel sits neatly in the HI portfolio, which includes HI Beach Himatic, Dar HI and the HI Hôtel, and was created by the dynamic duo Philippe Chapelet and Patrick Elouarghi.
Philippe Chapelet and Patrick Elouarghi, the creative minds behind this fascinating concept, photo credit: Anthony Lanneretonne
It is the first venture off the track of more trodden touristic destinations, but it does so with confidence: HIbride features eight rooms, two studios and two houses surrounded by olive groves, a vineyard, a forest and a vegetable garden.
The rooms are a dramatic contrast of contemporary and historic, with original wood beams and stone walls juxtaposed with modern furnishings and features. It is a hybrid of cultural inspirations from designer Matali Crasset, a former disciple of Philippe Starck, who drew from Japan, Spain and Tunisia as well as France to create the vibrant and welcoming spaces.
SPECIAL SPACES
The kitchen is central and communal: “Both as a space where breakfast is prepared, but also as a large table to share according to your desires and as a laboratory. It is also there that discovery workshops are organised around taste, nature, well-being, do-it-yourself [and] moments of transmission from experts in their field.”
Small intimate nooks are everywhere, ready for guests to lounge, read books, enjoy with friends or just watch the world go by. There’s also a remarkable swimming pool to laze by during hot summer days.
A thoroughly contemporary pool in an ancient setting, photo credit: Anthony Lanneretonne
HIBRIDE’S OWN
The farm isn’t just for relaxing though; it is a working, living, breathing entity that produces its own wines – the rosé is particularly nice and won a gold medal at the 2021 Avignon agricultural competition – and olive oils. The concept store sell these alongside decorative objects made by local designers.
Patrick and Philippe are involved in all stages of all their hotels’ creations, tuned into the idea of independent as opposed to international chains and “wishing to engage in a more contemporary hotel” model.
Rooms start at a reasonable €190 per night in low season and HIbride is open year-round. To book or just find out more, click here.
A month after the elections, Mayor Georges Marsan and his colleagues have been made official. The next four years will see considerable developments in infrastructure and the “quality of life” of Monaco residents.
This marks a historic sixth term as mayor for 66-year-old Georges Marsan, who has held the post since 2003 and ran unopposed in the March elections.
In his first official speech of the 2023-2027 mandate, Marsan said that this time round he would oversee a major restructuring of the municipal council and introduce a number of new departments with their own dedicated delegate. Among them: Quality of Life, Environment and Sustainable Development led by Marjorie Crovetto; Youth, Gender Parity and Equality under the aegis of Chloé Boscagli Leclercq; and Revalorisation of Real Estate Heritage headed by François Lallemand. Others include culture, communal and public green spaces, and events and leisure.
Marsan had further news to share with those gathered at the townhall, such as his intentions to improve childcare for young children in the Principality with the opening of three new crèches at the Palais Honoria, Ida and Bel Air premises. He also spoke about plans to revitalise Monaco’s markets, notably the Condamine, as well as the creation of an artisan’s market on the Rock and a “summer village” on the Port Hercule.
Under Marsan’s tenure over the next four years, Monaco will see the opening of an extra auditorium at the Académie Rainier III, a sports hall at the Saint-Charles swimming pool complex, the new Espace Lamartine (coming this September), a media library and the new Espace Léo Ferré (within the next two years).
Monte-Carlo Fashion Week will celebrate its 10th anniversary this year with an edition featuring clothing and accessory trends that have a serious ethical and sustainable edge.
Under the patronage of Princess Charlene and organised by the Monegasque Chamber of Fashion, Monte-Carlo Fashion Week (MCFW) has gone from a local showcase to an international event in just 10 short years.
Designers from around the world, whether established or emerging, are drawn to Monte-Carlo Fashion Week’s eco-cred as well as for its inclusiveness and diversity.
SHOWCASING MOANCO
Far from just a series of catwalk shows, MCFW is also a bigger picture event featuringfashion conferences and symposia, socials, cocktail parties and a fashion hub and pop-ups.
For this 10th anniversary edition, which runs from 17th to 21st May, emblematic places around the Principality will become venues for side events and a “Fashion Map” will be given to guests to get them around.
The Yacht Club of Monaco is where the Fashion Hub, the showrooms and the conferences will be based. The new museum of the Private Collection of Cars of the Prince of Monaco will host the parades and the Grande Verrière of the Grimaldi Forum will be the site of the prestigious Fashion Awards Ceremony.
GREEN IS THE NEW BLACK
With a focus on green fashion, the week is also a sounding board to “help to raise awareness of the importance of protecting our planet and the life in it”, gaining prestige and attention from top designers such as Tommy Hilfiger, Alberta Ferretti and Pauline Ducruet.
“Circularity is not a temporary fashion trend, but the key to the future, starting with the catwalk,” says Federica Nardoni Spinetta, the event’s creator and the president and founder of the Monegasque Chamber of Fashion. “This is the winning bet of Monte-Carlo Fashion Week, the event that once again confirms its role as a showcase for trends and, at the same time, perpetuates its essence as a reference platform for circular, ethical, eco-sustainable and inclusive fashion.”
AWARDS SHOW
In 2016, the Monegasque Chamber of Fashion created the Ethical and Sustainable Fashion Award to honour a brand for its engagement and contribution to raising awareness and protecting our planet by playing an active role in encouraging positive change, supporting sustainability, promoting a cleaner and better world for generations to come, and of course, by producing high-quality, eco-friendly garments.
Even the award is art. It was designed by Monaco-based artist Marcos Marin and features a curvy silhouette that looks as if it should be in a gallery. This year, the ceremony will be held at 8pm on 20th May.
ALTRUISTIC EDGE
Monaco’s chic and fabulous also have a heart, and the MCFW will, for the seventh year running, support the Princess Charlene of Monaco Foundation, which raises public awareness about water safety; teaching children to swim and preventing unnecessary drowning deaths worldwide.
For more information and the programme of events, please click here.
Do you have an event in Monaco or the French Riviera that you would like us to include in our What’s On section and events calendar? Please email editor@monacolife.net.
During the final week of April, Barcelona’s iconic Port Vell plays host to the world’s finest charter yachts for the MYBA Charter Show, marking the start of the summer yacht charter season.
An industry-only event, the MYBA Charter Show is always well attended by industry professionals who get the opportunity to familiarise themselves with the leading charter yachts available on the market, as well as the designs, layouts, facilities and crew available for the upcoming season. Armed with first-hand knowledge, they can then provide a superior service to clients when it comes to choosing the finest yachts for unforgettable cruising vacations.
A wide selection of top charter yachts are making their way across the Atlantic to the Mediterranean. The favoured summer cruising grounds of the Mediterranean have much to offer the waterborne. Think island hopping in the Balearics, a dot-to-dot tour of ancient archaeological wonders in Greece or wine tasting in Provence.
With so many choices of cruising ground and yacht, we’ve selected a quartet of incredible charter yachts to make it easier. With their pools, water toys, panoramic views and impressive dining options, this selection of superyachts represents the pinnacle of yachting elegance this summer.
Party Girl, photo courtesy Northrop & Johnson
Bold
If you’re ready to be bold with your cruising choices this summer, the 85-metre Silver Yachts stunner was launched in 2019 and is available throughout the Mediterranean. From her helipad to her beach club set up with an exceptional selection of tenders and toys to her resplendent interior spaces, this superyacht is the ultimate platform for an unforgettable on-water holiday with family and friends. Based in Porto Cervo for the summer season, Bold welcomes 12 guests in eight staterooms. She is run by a professional crew of 20. As one of the largest and most eye-catching yachts available on the market, if you want to see and be seen this summer, be bold and charter Bold.
The 85m Bold is available for charter in the Mediterranean, with prices from €875,000 per week, plus expenses.
RoMa, photo courtesy Northrop & Johnson
RoMa
Luxurious, sophisticated and packed from bow to stern with impressive facilities, RoMaproves that it is possible to have it all. Minimalist and design-led but still eminently comfortable, RoMa’s contemporary interior is slick, fresh, achingly chic and inviting, giving her universal appeal that has made her an extremely successful charter yacht since her launch in 2010. She has three spacious and well-appointed decks – all linked by an elevator – as well as a sun deck for her 12 guests who are attended by a crew of 18. She also has a state-of-the-art gymnasium, a cinema/ games room and an exceptionally large Jacuzzi.
At RoMa’s stern, a beach-club area houses some of the best water toys on the market, including SeaBobs, Sea-Doos, waverunner, flyboard, kayaks and paddleboards, and allows guests to access the water with ease – perfect for those looking to take advantage of her PADI Dive Centre. However, the star of the show has to be her 20-metre inflatable water slide. When RoMa is anchored at sea, this vast slide delivers her more adventurous guests to the cool waves in a matter of seconds. RoMa also has a RINA Green Star Certification for sustaining the highest environmental standards.
The 62m (203’5”) RoMa is available for charter in the Mediterranean, with prices from €370,000 per week, plus expenses.
Party Girl, photo courtesy Northrop & Johnson
PARTY GIRL
As her name might suggest, Party Girlis designed to offer the most incredibly fun and luxurious charter experience. Among her many attractions is a chic sea-level beach club with a lounge area and gym. During moments of leisure, of which there are many, guests make full use of the floating bar, complete with canopy, a waterslide attaching from the upper deck, a beach set up and a variety of watersports equipment and toys. She also has an upper-deck jacuzzi with sumptuous seating for true relaxation.
Blending the outside with the inside space is often the goal of many modern yacht designs, but Party Girl really takes this to another level with her large indoor/outdoor lounge area on the main deck. Decoratively, the interior invokes a sense of leisure and relaxation with exotic woods and textures throughout, and charter guests describe feeling immediately at ease as they step on board.
Party Girl pool, photo courtesy Northrop & Johnson
No luxury has been spared in the guest accommodation – including in terms of volume. The master stateroom has an impressive lounging area and his-and-hers bathrooms. There is also a private stairway connecting it to the second master stateroom above, which also has a private lounge. The yacht also has two queen-sized guest staterooms on the upper deck and four staterooms on the lower deck, completing her guest accommodation for up to 12 guests.
The 62.48m Party Girl is available for charter in the Mediterranean, with prices from €505,000 per week, plus expenses.
Top Five II
Imagine yourself sunning seaside on a fold-out swim platform in the Mediterranean Sea, sitting on a forward sunpad with a cocktail in hand, enjoying an alfresco barbecue or relaxing during your massage in a private relaxation space during your luxury yacht charter aboard the Dutch-built Hakvoort superyachtTop Five II.
This 61-meter superyacht has all the amenities needed to escape at sea but all the capabilities to keep connected if that’s what you need. 12 guests are accommodated in six stunning staterooms. The yacht’s crew of 19 professionals will provide nothing short of five-star service while you enjoy your time aboard.
With an onboard arsenal of tenders, wave runners, kayaks, Seabobs, inflatables, snorkelling gear and so much more, the kids will be over the moon and are sure to be tired come the end of a busy day on the water, which is when they can enjoy the yacht’s theatre-quality entertainment systems. After they’ve gone to bed, the adults can enjoy five-star alfresco meals under starlight in the sparkling waters off some of Europe’s most sought-after coastal cities.
The 61m Top Five II is available for charter in the Mediterranean, with prices from €550,000 per week, plus expenses.
There is no time like the present to book your summer yacht charter holiday. Charter brokerages like Monaco’s Northrop & Johnson are seeing their charter yacht calendars fill up. Charter brokers advise that if you see a yacht you like, reach out immediately as availability is falling as temperatures rise.
This article is by Northrop and Johnson, a sponsor partner of Monaco Life.
AS Monaco’s Groupe Élite overcame a talented Chelsea U21 side (3-2) in a thrilling, open match in front of onlooking owner Dmitry Rybolovlev.
Chelsea and Monaco have a history. The club’s first-teams faced off in a classic Champions League semi-final tie back in 2004, which Monaco won 5-3 on aggregate, whilst Cesc Fabregas, Tiemoué Bakayoko, and more recently Benoît Badiashile, are amongst the players to have featured for both sides.
Dmitry Rybolovlev, Paul Mitchell and Philippe Clement in attendance
Whilst the match between Les Monégasques’ Groupe Élite and Chelsea’s U21 side wasn’t played in front of the masses of Stamford Bridge, or under the iconic arches of the Stade Louis II, the match certainly piqued the interest of the club’s hierarchy.
Photo of Dmitry Rybolovlev
Rybolovlev made a rare appearance to support Monaco’s La Diagonale, whilst first-team manager Philippe Clement was also in the stands, on the lookout for the next player to integrate into his professional squad. Sporting Director Paul Mitchell, Performance Director James Bunce, Director of Youth Development Pascal de Maesschalck as well as La Diagonale academy graduates such as Eliesse Ben Seghir and Eliot Matazo all watched on. They would have been impressed with what they saw in the first half.
Edan Diop features in strong Monaco line-up
Monaco fielded a strong starting XI, which included first-teamer Edan Diop. Players such as Yllan Okou, Yann Lienard and Soungoutou Magassa, all of whom are fixtures in first-team training featured in the fixture.
However, it was the Blues who took the lead through England U20 international Harvey Vale. Monaco looked dangerous, however, and quickly struck back through Enzo Baglieri, who latched onto a clever ball from Diop.
Photo of Edan Diop and Enzo Baglieri by Luke Entwistle, Monaco Life
Lienard then got the better of Vale just minutes later, turning the Englishman’s curling effort around the post. That proved a turning point, with Monaco then unleashing a barrage on the Chelsea goal, which yielded two more goals before the break. Mamadou Coulibaly scored Monaco’s second with a fortuitous deflected effort before Baglieri got his second.
Mason Burstow halved the advantage in the second half, but Monaco held on and will face Chelsea again in a return leg in London on 2nd May.
“It’s a beautiful win. We were looking forward to this match. We really wanted to win this one, so it’s mission accomplished. We saw a bunch of boys who gave everything they had,” Groupe Élite coach Damien Perrinelle told Monaco Life.
“The complete momentum of the club is towards the development of its academy players.”
He added, “The best reward for the Groupe Élite is when Philippe Clement calls up one of our players, and when he gets minutes with the first team, or when I’m told that a player has adapted well. That’s the priority of the group.”
Photo of Damien Perrinelle by Luke Entwistle, Monaco Life
Whilst denying that Rybolovlev’s attendance at the match motivated the players further, given that “they’re all competitors,” Perrinelle described the presence of the club’s hierarchy as “gratifying”.
“I don’t know if the players realised that the President was here! I didn’t want to tell them so as not to put them under pressure. That proves, I think, that the complete momentum of the club is towards the development of its academy players, from the U17s to the U19s. Having Paul (Mitchell) and the President come and watch this kind of match is gratifying and highlights our work. We’re also very proud to show them, as well, what we’ve been working on all year,” he told Monaco Life.
