16 ° C
Profile

Month: April 2024

Monaco’s fast-growing digital sector now worth €1 billion

by: Stephanie Horsman
17/04/2024
digital sector monaco

The digital industry is booming in Monaco thanks to an explosion of digital businesses setting up shop in the Principality in the last 10 years. More than 110 new digital companies joined the books in 2023, a year that saw the sector produce close to €1 billion in revenue. 

Monaco’s dynamic digital economy is the focus of a new report by the Monegasque Institute of Statistics and Economic Studies (IMSEE).  

The study, which was published earlier this week, highlights the massive growth experienced by the sector in the past decade as well as its developing status as a major employer in the Principality’s private sector. 

FAST-GROWING 

There were 1,031 digital companies operating in Monaco in 2023, up over 4% on the previous year and nearly 75% more than there were 10 years ago. In real numbers, this means that 112 new digital businesses were founded in the Principality last year.  

Around a half of Monaco’s digital businesses are dedicated to the fields of advertising and communication, owing to a big jump in the need for specialised design work in recent years. Nearly 40% represent information and communication technology (ICT), while content and media make up the rest.  

Perhaps the most striking feature of the digital economy in Monaco is that it generated €947 million in revenue in 2023. That is a €19 million gain on the previous year, with ICT showing the strongest growth in revenue; it produced €598 million over the course of last year.  

Content and media, though down by almost €19 million, recorded a turnover of €209 million, while advertising and communication noted growth of just over 8%, bringing in €138 million.  

2,082 people were in employment in the local digital sector in 2023, 160 more than the previous year, with ICT leading the pack with 1,478 employees. Advertising and communication account for 298 people, and content and media businesses have 294 workers on their books.  

See more: Science and technical activities companies are Monaco’s biggest private sector employers

The industry is male-dominated, with the typical profile of an average worker being a 41-year-old French man living in the Alpes-Maritimes.

In 2023, there were 1,480 men employed in the sector versus 602 women, making the digital sector nearly 10% more male-heavy than the private sector average.  

Though nine in 10 of digital sector workers are recorded as living in France, with most coming from the Alpes-Maritimes, nearly 10% are Monegasque. 

To read the full report, click here.

Read related:

Economy: Revenues exceed €20 billion for the first time in Monaco 

 

Join the Monaco Life community – sign up for the Monaco Life newsletter, and follow us on Threads, Facebook, Instagram, LinkedIn and Tik Tok.  

 

Photo source: Budka Damdinsuren, Unsplash

Canua Island makes plans for a grand debut this spring

by: Elsa Carpenter
17/04/2024
canua island

Canua Island, a floating party destination designed to anchor off the coast of the French Riviera and host up to 350 guests a day at its restaurant, bar and onboard pool, finally looks set to launch in May.  

The desired location for Marc Audineau and Tony Philp, who came up with the Canua Island concept more than four years ago, had always been the Bay of Cannes, but local officials were less than keen on the idea. 

In March of last year, the longtime mayor of Cannes, David Lisnard, sent a letter to the then-French Prime Minister Elisabeth Borne, asking her to intervene in any way possible to stop the project in its tracks and prevent it from dropping anchor near the City of Film. 

Environmental concerns, worries about visual and noise pollution, fears over safety issues due to the bay’s busy pre-existing shipping lanes and unease with the lack of regulations for this type of development were all cited by the city’s councillors as factors to consider. The City Council ultimately came together to vote unanimously against Canua Island.  

See more: Canua Island: Cannes Council unanimously rejects floating party island

Canua Island’s management were forced to postpone a summer 2023 launch and instead prepared to have their case heard at the Administrative Court of Nice in August.  

The ruling went in Audineau and Philp’s favour, with an order coming down that the State must issue the required navigation permit. But this did not happen. 

In November, a second ruling affirmed that the decision of the State to withhold this permit was illegal. According to the Nice Matin, State officials had refused to issue the authoristations on grounds “absolutely unrelated to the safety of the vessel and for reasons linked to illegitimate instructions from the Secretary of State responsible for the Sea”.  

According to Le Figaro, Audineau claims that he and his partners are nothing more than the victims of a “political vendetta”. 

Canua prepares to cast off 

With the court rulings in hand, Audineau is reportedly preparing for an imminent launch. 

“We will operate from May,” he said in comments published by the Nice Matin. “We are in the process of recruiting.” 

A crew of around 100 will be needed to ensure the level of safety and service promised by the Canua Island team and its backers.  

Although no precise date in May has been confirmed, nor a specific location, Canua Island is currently docked in a shipyard in La Seyne sur Mer, where it is undergoing a series of maintenance works to ensure it is ready for a summer of sailing. 

The idea is that, in the future, Canua Island will welcome guests via tender for seven months of the year. The floating island will offer 1,750m2 of floor space, shared across a restaurant, rooftop bar and poolside deck.  

Its designers claim the vessel has a carbon footprint three times smaller than a Vendée Globe yacht, conserves 100% of its wastewater and recycle all waste materials produced on board, is equipped with a desalinator to limit its reliance on water supplies on land, and will maintains the upmost respect for the Mediterranean’s flora and fauna by anchoring in suitable places away from important seagrass fields.  

 

Join the Monaco Life community – sign up for the Monaco Life newsletter, and follow us on Threads, Facebook, Instagram, LinkedIn and Tik Tok.  

 

Photo source: Canua Island

Snowfall and heavy rains ease pressure on water supplies in southern France

by: Stephanie Horsman
17/04/2024
Alpes-Maritimes water

The rains and heavy snowfall experienced in the Alpes-Maritimes over the winter have given local groundwater levels a much-needed top-up, helping to ease fears of another summer of severe water restrictions.  

According to a report put out by Provence Alpes Côte d’Azur authorities in March, there was considerably more precipitation than usual in the region in the first quarter of this year. 

Data recorded by Météo France, the national meteorological service, indicates the same: 1,070mm of rain fell in the region during Q1, noticeably more than the average of 740mm. 

The excess rainfall means that local water tables and watercourses are at higher levels than those seen in the past two years. At the Pont Napoléon III bridge, which crosses the Var River near Nice Côte d’Azur Airport, water levels are currently a full 500mm higher than this time last year.  

The Soil Humidity Index, a tool used to measure the ability of soil to supply moisture to plants, is also reported to be above the norm, and now that spring is here, the snowmelt from the mountains to the north will also positively contribute as the runoff finds its way into the water tables further down the valleys.

Furthermore, the Alpes-Maritimes department has been able to lower its drought action plan level from ‘alert’ to the lower ‘vigilance’ stage, with no current plans to raise it. This contrasts to 2023, when the department was already at alert level by March.  

Despite the optimistic outlook, state authorities remain cautious and are continuing preparations for another excessively hot and dry summer, which is being predicted by researchers from Météo France. As temperatures have been above average for much of April, the prospect seems realistic enough.  

Among the measures being considered for later in the year are restrictions on water usage at local golf courses, which alone could help save 500,000m3 of water, the equivalent of 200 Olympic sized swimming pools. 

Still, the most effective way to prevent water emergencies is the continued watchfulness of the population, with the public being urged to use water responsibly throughout the coming months.  

To read the recent report in full, click here.

Read related:

The world is heading for a devastating 2.9°C temperature rise by 2100, warn experts in new report 

 

Join the Monaco Life community – sign up for the Monaco Life newsletter, and follow us on Threads, Facebook, Instagram, LinkedIn and Tik Tok.  

 

Photo source: Gary Fultz, Unsplash

Monaco Government warns residents of threatening scam calls

by: Elsa Carpenter
17/04/2024

Following an uptick in the number of scam telephone calls received by Monaco residents, often from untraceable or foreign numbers, the government has sought to advise locals of the actions to take if they find themselves among the victims. 

On Monday 15th April, the Monaco Government released an official statement on the recent spate of ill-intended scam calls that have been targeting residents of the Principality. 

“Residents of the Principality of Monaco are currently receiving malicious phone calls, originating from foreign operator numbers whose identities are often masked, making any traceability attempts difficult,” reads the statement. 

“The scammers mainly target elderly individuals, presenting themselves as police officers or lawyers, and convince them that a family member has been involved in a serious traffic accident,” it continues. “They request a significant sum of money – cash or jewellery, for example – to assist them [their family member]. This is a malicious phone call campaign aimed at defrauding potential victims who respond positively to the caller’s demands.” 

The public is reminded not to follow any of the requests, nor attempt to follow up on the call. If possible, the telephone number should be blocked from any future communication, and the Monaco Police Department can be contacted at 93 15 30 15 if receivers of the calls have any further concerns.

This is not the first time that residents in the Principality have been bombarded with similar calls or scam campaigns. As recently as January 2024, the authorities warned residents of a “sophisticated phishing campaign” conducted via email. 

For more information, click here.

Read related:

Authorities warn of new email scam doing rounds

 

Join the Monaco Life community – sign up for the Monaco Life newsletter, and follow us on Threads, Facebook, Instagram, LinkedIn and Tik Tok.  

 

Photo source: Jae Park, Unsplash

New Lacoste store opens on Monaco’s Avenue J. F. Kennedy

by: Niki Borisova
17/04/2024
lacoste monaco

The iconic Lacoste crocodile has made a new home for itself in the Principality of Monaco with the opening of a colourful 170sqm boutique near Port Hercule. 

Found at 5 Avenue J. F. Kennedy, just steps away from the Quai des Etats-Unis of Port Hercule, the new store was opened on Thursday 11th April in the presence of the former French footballer Youri Djorkaeff as well as many local faces.  

The VIP guests invited along to the boutique’s launch browsed the famous brand’s latest collections, picked up old favourites, and mixed and mingled while a DJ played some tracks.  

The sleek 170sqm boutique offers prêt-à-porter accessories, footwear and sophisticated sports clothing items for men, women and children, along with a range of other services offered by the Lacoste house, such as personalised embroidery. 

Among the pieces to get the most attention on Launch Day were a pair of Lacoste sneakers made in collaboration with Novak Djokovic, the world’s top-ranked tennis player. Lacoste and Djokovic, who lives in Monaco, have a brand partnership agreement until 2025.  

Founded in 1933 by René Lacoste, the legendary tennis champion of the 1920s, Lacoste has transcended eras, styles and gender concepts by offering a classy and elegant take on sportswear. René Lacoste is celebrated for his contributions to relaxed apparel, which blended the lines between daywear and sports clothing; he is credited with creating the very first polo shirt! 

See more in our Instagram video below…

 

Read related:

Missoni opens new boutique in the Metropole Shopping Monte-Carlo mall

 

Join the Monaco Life community – sign up for the Monaco Life newsletter, and follow us on Threads, Facebook, Instagram, LinkedIn and Tik Tok.  

 

Photo supplied

Georges Marsan speaks publicly for first time since returning as mayor amid corruption charges

by: Cassandra Tanti
16/04/2024

Monaco Mayor Georges Marsan has held his first press conference since returning to office, telling local media that he is innocent of all charges and plans to file a complaint of his own. 

In the press conference held early Tuesday morning at the Mairie, Mayor Marsan thanked the entire Municipal Council, in particular Camille Svara who stepped in as mayor for several months “in unprecedented and delicate circumstances” as well as staff of the Mairie who carried out their missions with “professionalism”. He said it shows that the local council remains “impervious to any destabilisation”.

See also: Monaco Mayor Georges Marsan among five individuals facing corruption charges

Georges Marsan was arrested and charged in December 2023 for influence peddling and corruption. Maintaining his innocence throughout, Monaco’s long-running mayor was prevented from having contact with Mairie staff and exercising his function as mayor for four months.

On 16th April, the Monaco Prosecutors Office confirmed that the ban had been lifted and Marsan was authorised to return to his position, adding that he remained charged and presumed innocent.  

Addressing those charges on Tuesday, Georges Marsan said: “I have nothing in my soul and conscience to reproach myself for (…) and I will not stop trying to establish my innocence.”

The politician is prevented from saying anything further about the case, except that he is still barred from having any contact with the Condamine market traders. 

Mayor Marsan announced during the press conference that he intends to file a complaint with the Attorney General of Monaco against an unnamed person/entity for violating the secrecy of the investigation.

Join the Monaco Life community – sign up for the Monaco Life newsletter, and follow us on Threads, Facebook, Instagram, LinkedIn and Tik Tok. 

 

Photo source: Mairie de Monaco