For a place as small as the Principality, the choice of options regarding where and how to experience the Monaco Grand Prix is incredibly varied. Everyone knows the grandstands that line the track and the yachts bobbing in the port, but what about the vast array of terraces, rooftops, hotels and restaurants? Here’s the Monaco Life guide to the very best places to watch the racing.
Let’s begin in Monaco’s famous Place du Casino, often referred to as the Carré d’Or.
For those seeking a truly luxurious experience, look no further than the Hôtel de Paris Monte-Carlo. Its two main restaurants, the three Michelin-starred Le Louis XV – Alain Ducasse and the one Michelin-starred Le Grill, offer spectacular views of the racetrack alongside with exceptional cuisine. On top of these venues, the Bar Américain, known for its live music programme, is a great choice for those looking for a lively yet sophisticated setting.
The primely located Hôtel de Paris in Monaco’s Place du Casino. Photo by Monaco Life
The Hôtel Hermitage Monte-Carlo is another prime location for Formula 1 enthusiasts. The one Michelin-starred Pavyllon Monte-Carlo by Chef Yannick Alléno features a beautiful panoramic terrace from which guests can enjoy a unique vantage point over the race.
Located in the heart of Monaco, the recently renovated Café de Paris Monte-Carlo combines heritage and modernity. It’s always a hugely popular venue during the Grand Prix and will really be attracting the crowds this year thanks to the new Amazónico lounge, bar and restaurant on its rooftop.
For a healthier option, L’Hirondelle at Thermes Marins Monte-Carlo is usually a spa and health sanctuary, but joins in with Formula 1 fever during the Monaco Grand Prix. Its terrace provides a view of the famous Louis II tunnel exit and the chicane.
The Principality is gearing up for the Monaco Grand Prix. Photo by Monaco Life
Down in Port Hercule, the Yacht Club de Monaco offers unparalleled views of the race from its terraces that look out onto the Louis II tunnel exit and the port sector of the circuit.
Further along the Quai des Etats-Unis, the Equivoque rooftop is a top choice for the glamourous. It is a place to see and be seen. It can be accessed from the Hôtel Miramar and the Terrazza entrance on Avenue d’Ostende.
My! on Boulevard Albert 1er offers a clear view of the race cars as they zoom towards Sainte Dévote and up Avenue d’Ostende. The Japanese restaurant will be serving its signature sushi and other gourmet delights to guests throughout the event.
La Rascasse, the world-famous bar inside the next-to-last corner of the Monaco Grand Prix track, is a perennial favourite with fans of the iconic race. The single-seaters fly around the perimetre of the bar, putting guests right in the centre of the action.
La Rascasse shares its name with one of the circuit’s most famous corners. Photo by Monaco Life
The port area is also home to a number ofprivate terraces that can be rented to those who wish to watch the race from a more intimate setting, but with the luxury of VIP hospitality services. Among the most sought-after are the terraces in the Shangri-La, the Panorama and Le Winch.
At the other of the track is the famous Hairpin. The best place to view this sector is from the Fairmont Hotel. Nikki Beach Monte-Carlo on the rooftop of the hotel is another excellent choice for fans who want to indulge in the lavish lifestyle of Monaco while enjoying the racing.
Monegasque company Magtor is positioning itself at the forefront of green tech innovation. Co-founded by a Monegasque and a Monaco resident, the company is simultaneously revolutionising the compressor and pumping application industry and contributing to the Principality’s worldwide renown as a place that champions sustainable excellence.
To learn more about this pioneering company and the objectives that drive its team, Monaco Life speaks to Jeremy Hein, the co-founder and CTO of Magtor.
In the world of technology, there are always revolutions. While some take place in full view, others are quieter, occurring behind the scenes. This is where Magtor comes in.
Magtor, a technology firm established in 2011 by Jeremy Hein, a Monegasque IT engineer at heart, and his partner, a fellow Monegasque citizen, is a company that is providing a unique solution to the current problems that compressor and pumping appliances face – industries that often go unnoticed.
Magtor’s solution is an ultra-high-efficiency linear electric motor that will reduce running costs as well as the environmental footprint of businesses, homes, and vehicles worldwide, making it hard to overlook.
Together, Hein and his partner are the inventors of the Magtor linear drive, the world’s first linear electric motor with the unique ability to achieve long-distance magnetic interactions.
Hein also masterminded the Magtor Intellectual Property Pool. Now, he is focusing on the development and production of Magtor-driven end products while further developing Magtor’s intellectual property strategy. Indeed, Magtor is the Monegasque company with the largest number of patents to its name.
Magtor’s linear electric motor. Photo by Monaco Life
Establishing such a forward-thinking product as the ultra-high-efficiency linear electric motor did not come without its trials.
“We had all kinds of challenges: technical, financial and the industry,” says Hein. “The industry has a lot of inertia because most of the developments in the last 20 years were related to the internet, data collection, algorithms and AI, so the hardware was left behind.”
As he explains, this is where he found a niche in the industry: to focus on hardware technology.
“We are here to solve problems”
Developments in energy-efficient technologies are important in our ever-changing world, and leveraging technological advancements is key. With issues such as climate change, resource depletion and pollution, among others, technology has emerged as a crucial player in addressing these risks.
“I am convinced that any problem we are facing can be solved by technology,” reveals Hein. “I am an engineer and, as engineers, we are here to solve problems.”
When addressing these pressing challenges, he stresses, “What we need to do is do more using less.”
His view is that green technologies can provide the lifestyle we need without harming the environment.
“Climate change is here, and the biggest challenge is to adapt because if society does not adapt, it collapses,” he says wisely.
An essential aspect of this adaptation is optimisation: how to build on existing technology to make it more efficient to tackle the problem.
The core Magtor drive is now being adapted to compressor and pump applications, but this is not the only industry that Hein has his eyes set on.
“This is an area driven by scarcity as the supply is less than the demand,” he tells Monaco Life.
Magtor plays a crucial role in this industry as, says Hein, “What we provide is a fundamental component to these units and other applications.”
The linear electric motor is to be used initially to significantly improve the efficiency of the compressors that are found in fridges, air conditioning units, freezers, heat pumps, washing and drying machines, and air compressor applications, to name but a few of the household items that we use in our daily lives, but don’t pay too much attention to.
An astonishing fact? As of 2024, the air compressor market is worth USD $37.80 billion, and it will increase to USD $47.54 billion by 2029, according to Mordor Intelligence industry reports.
Hein, meanwhile, argues that the scale of this industry is still undervalued despite a billion units being required globally each year.
Recognition
Magtor’s technology is currently featured in the UN WIPO Green Technology Book 2023 edition on climate change mitigation, the only Monegasque technology to be listed. The book can be accessed here, with Magtor being featured on page 49.
“It was the best satisfaction I could have received as an engineer and a proud Monegasque,” says Hein.
Monaco’s manufacturing and industrial sectors are recovering well from the pandemic years. According to a new report by IMSEE, revenues approached close to €1 billion in 2023, a year also marked by an increase in employment.
Collective revenues in Monaco’s manufacturing and industrial sectors reached €972 million in 2023, a 6% rise from 2022. This good news is tempered, however, by the fact that revenues are still down 5.6% on the figures recorded a decade ago.
There were 180 active companies in the combined sectors in 2023. On average, these companies have been in business for 27 years, although five closed their doors in 2023.
The vast majority of these active companies – 87% – represent the manufacturing industry. This group includes specialists in machinery and equipment repair and installation, rubber and plastic product makers, chemical producers and clothing creators. Together, they achieved revenues of €734 million.
A further 8% of the companies represent waste management and water supply firms, while the remaining 5% is made up of agricultural, forestry, fishing, mining and quarrying, and electric, gas and steam companies.
In 2023, the sectors employed 2,683 people, an increase of 83 jobs from the previous year. Overall, these companies employ 1.7% of the total workforce in the Principality.
Manufacturing was the dominant employer, with 1,895 employees. In contrast, employment in pharmaceutical preparation dropped by 77%, with a loss of 86 jobs.
The sector is notably male-heavy, with 1,728 men versus 955 women. That being said, both genders saw an increase in the number of workers last year. The number of female employees rose by 3.5%, and by 3% for men.
The average age of workers in this sector is 44.6 years, slightly older than the national private sector average of 42.4 years. Nearly 60% of employees are aged between 35 and 54. The workforce is predominantly French, with over 80% coming from the Alpes-Maritimes. Italians account for 12% of the workforce, while Monegasques make up 6.5%.
The demand for one-of-a-kind experiences, bucket list adventures, and exclusive in the flesh gatherings with like-minded people seem to be at an all-time high, especially among HNW and (U)WNW individuals, whose exacting standards require expertise honed over many years by those who understand this breed of clientele.
My Yacht Group (MYG) brings that kind of savvy know-how, finely tuned over multiple decades in a broad swath of interests ranging from automotive racing and concours to art fairs and Hollywood academies, international yacht shows to curated astronaut dinners. MYG creates turnkey hospitality and experiences – primarily aboard superyachts, naturally – for luxury brand partners and their top clients, plus a hand-picked global selection of discerning guests; these events provide a unique setting for networking and socialising at some of the most prestigious annual global gatherings.
Monaco Life sat down with Nicholas Frankl, MYG Founder, CEO, and three-time Olympian, to get the inside scoop on the secret sauce to “Connecting the World’s Most Interesting People”, a phrase that defines their mission.
Nicholas Frankl’s love of Formula 1 began when he was a child. He participated in the 1994, 1998, and 2002 Olympic games as both driver and Captain of the Hungarian bobsled team, and his passion for fast cars and sport continues through his luxury MYG’s events.
Nicholas Frankl competing at the Salt Lake City Olympics
Monaco Life: What personal convictions and interests do you carry through your life and by extension into your business?
Nicholas Frankl: I grew up respecting my elders, working hard, giving back, and not simply expecting things to be handed to me, or feeling entitled to a particular lifestyle without working hard to attain it. We started from zero and qualified for the Olympics in one year. That took hard work and dedication, and I am incredibly proud to be part of the Olympic community and to have earned the right to include the designation OLY after my name.
A charitable element is always an essential component of our events. We have helped raise hundreds of thousands of dollars for our charity partners over the years, both through onboard auctions and pledging, by donating our experiences to charity galas, and so on. We raise awareness – to a unique audience – for their missions, whether it’s ecological efforts by the Prince Albert II of Monaco Foundation, deploying superyachts as a first line of humanitarian aid to hard-hit coastal areas as with YachtAid Global, or Blue Angels Foundation providing essential help to veterans.
I always strive to add value to everything I do, by under-promising and overdelivering. Formula 1 has been a large part of my life, attending from a young age with my automotive journalist father, then later as a photographer and writer myself, as well as part of the Ferrari Team in 1996-1999 with Michael Schumacher and Eddie Irvine driving. For the past 16+ years, I have produced an extraordinary superyacht experience at the Monaco Grand Prix.So, my love of speed is in my DNA! I’m also lucky enough to test drive some incredible cars – Lamborghinis, Ferraris, Paganis – and I’m a VFR-rated private pilot. (VFR stands for Visual Flight Rules)
Aerialist performing for a MYG event at the Miami GP
Your events are global, tying into elite gatherings everywhere, from yacht shows and art fairs in Miami to the Cannes Film Festival, Concours d’Elégance in Monterey, CA, and the Grand Prix and Monaco Yacht Show. What sets your events apart?
Our events have always been a direct reflection of demand. We started in Monaco at the Grand Prix and we are celebrating our 17th year this May. That formula of bringing like-minded individuals together in a relaxed yet exclusive setting has proven itself whether we’re in Monaco, Miami, St. Bart’s, or Hong Kong. We continue to expand on our (U)HNW summits that provide a unique platform for companies and brands to present to an eminently qualified, highly curated, and hand-selected collection of guests. Equally, our non-yacht event, My Yacht® Club, our pop-up VIP nightlife experience in Austin during the Grand Prix, brought a Monaco level of sophistication to a new audience and proved highly successful for over a decade, which was very gratifying.
We – my twin sister, Annabelle, who is COO, and I – just hosted another curated ‘night before’ investor dinner in Miami during the Grand Prix weekend, followed by the only – so we’re told – superyacht party on the Saturday night aboard the 185ft research vessel Gene Chaser, which makes for a unique setting. I mean, where else can you sip Whispering Angel rosé or Enchanted Rock vodka cocktails, enjoy incredible food, watch our aerialist perform from the yacht’s crane with the Miami skyline in the background, and then go and get a brain or retina scan in the onboard, fully working lab? Our guests loved it!
Astronaut Commander Michael Lopez-Alegria, Astronaut Nicole Stott, and Nicholas Frankl
You have close ties to the space industry and space tourism. Tell us more, and would you go to space?
I would go in a heartbeat! My love of aviation and space has been present throughout my life. Being an investor in the space sector, and closely aligned with both a significant space company – Axiom Space – and a newer start-up – Radian Aerospace – who are set to revolutionise the industry with their single-stage-to-orbit spaceplane and are currently raising a $100m ‘A’ round, it’s a fascinating time. I can’t wait to see where the next decade will take us.
When you’re in the presence of exceptional people like Astronauts, what are the burning questions you ask them about their experience?
I am privileged to call a six-time astronaut my friend – Commander Michael Lopez-Alegria; he is an exceptional human being. Even our first meeting – introduced through Buzz Aldrin – was terrific! Learning about the experience of being thrust into space is riveting. Interestingly, though, from having spoken and spent time with several astronauts, primarily Commander Michael-Lopez Alegría, the overarching theme is one of connectivity: the bonds and friendships formed by training for and completing missions, spending often extended periods with your fellow adventurers in a metal can that’s hurtling around the globe at 17,500mph! It seems this is very similar to what we all seek and strive to attain at all our events, whether a dinner for 20 people or a yacht party for 200+.
Ulyssia model
What’s next for you?
We’re always excited to do something fresh, whether a new event location or brand partner. Both evenings in Miami, we showcased a 12-foot scale model of ‘Ulyssia’, the new 1,000+ foot luxury residence ship with which I’m involved. It’s an incredible project: designed by Espen Øino, who is, of course, legendary in super and mega-yacht design and brings those same lines to Ulyssia. She will boast 140 luxury residences ranging from 1,400 to 15,000 sq. ft. and will circumnavigate the globe. The amenities are out of this world; Chenot spa, full medical facilities, a vast marina, two submarines, two large helicopters, five restaurants, guest chefs, renowned guest speakers, flying simulator, Padel tennis, incredible expeditions, you name it. We are taking applications and reservations now and will cut steel in approximately nine months.
And, of course, we are currently prepping for our 17th My Yacht at the 81st Monaco Grand Prix, with our trackside yacht and entire weekend program. It’s our signature event of the year, and it’s been gratifying to host so many incredible guests, including His Serene Highness Prince Albert II of Monaco, and partners aboard over the years. I’ve been going to that race in many capacities – spectator, photographer, journalist, host – for over 35 years, so it’s a special weekend from a commercial and personal standpoint.
The Aeronauts Club of Monaco, the organisers of the pioneering Prince Albert II of Monaco Cup, a hot air balloon race across the Alps, has announced the postponement of the competition until next year. The reason: “unstable weather conditions caused by global warming”.
The disappointing news came via a press release issued by the Aeronauts Club of Monaco on Tuesday 21st May.
According to the communiqué, the Club had been trying to set a safe date since the start of the year, but was thwarted at every opportunity by the weather.
“Unfavourable weather conditions between 1st February and 30th April 2024 have forced us to cancel the Prince Albert II of Monaco Cup 2024, as the unstable weather conditions caused by global warming and the Principality’s particularly high urban density have prevented us from taking off in the optimum safety conditions required,” said Alain Cruteanschii, the highly-experienced president of the Aeronauts Club of Monaco.
The Aeronauts Club of Monaco, an association that focuses on pilot training and excursions, had been working on the launch of this unique sporting competition for several years. The concept is that 10 teams from six countries race ecological hot air balloons across the Southern Alps, taking off from a site close to the Principality and landing in Piedmont, Italy.
The environmental aspect comes in with the balloons’ design. They each feature a “double envelope”, a concept conceived by members of the Aeronauts Club under their Monaco Next Generation Project that reduces heat loss and saves up to 70% on fuel. Additionally, the baskets are made from lighter weight titanium and composites, which are significantly less heavy – by nearly 100kg – than the standard versions.
Fans and supporters will now have to wait until 2025 to catch a glimpse of these pioneering crafts in the skies above Monaco.
In an event that coincided with the timely premiere of Mickaël Gamrasni’s Olympiques! La France des Jeux, the Olympic flame made a detour from its relay route through France to make a stop at the Cannes Film Festival earlier this week.
Not until mid-June will the City of Film officially welcome the Olympic Torch.
Between 17th and 18th June, the flame is set to pass through the Alpes-Maritimes, visiting towns and cities including Cannes, Nice, Antibes and Grasse as well as Villefranche-sur-Mer, Valberg and Valdeblore-La Colmiane.
However, on 21st May, the flame and its handlers were given a special dispensation to make a stop at the Palais des Congrès et des Festivals.
French athletes including Arnaud Assoumani, Nelia Barbosa, Alexis Hanquinquant and Marie Patouillet were also invited to attend the symbolic event. They passed the Torch between them at the top of the red carpet, each clearly moved by the moment.
“What a joy it is to welcome such a host of Olympic stars,” said Iris Knobloch, President of the Cannes Film Festival, and Thierry Frémaux, General Delegate, in a joint statement. “We look forward to continuing to write the great history between sport and the Seventh Art, and to delve with as much fervour as happiness into a century of participation in the Olympic Games, which have left an indelible mark on our collective memory.”
Later that evening, documentarian Mickaël Gamrasni screened his new film, Olympiques! La France des Jeux. Watching on were a host of French former and current athletes and sports personalities, many of whom feature in the movie.
The film,produced by France Télévision, presents three generations of French Olympians, who speak of their country’s special relationship with the Games. Among those interviewed are David Douillet, Guy Drut, Jean Galfione, Céline Gerny, Laura Flessel, Laure Manaudou and Cédric Nankin.
