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Day: 10 April 2025

Sun, sea and sales: Why are so many US citizens buying in the Côte d’Azur?

by: Stephanie Horsman
10/04/2025

The French Riviera, particularly Nice and its surrounding areas, has become an increasingly popular destination for affluent American tourists and expatriates, with as many as one in every two real estate sales in the region’s capital involving a US buyer.

In recent years, there has been a marked uptick in the number of American visitors to Monaco and the Côte d’Azur. They had all but disappeared during the Covid crisis, but now they are returning with money to spend and, interestingly, thoughts of expatriation on their minds.

Local authorities are capitalising on this trend to bolster tourism in the region. Côte d’Azur France Tourisme recorded 620,000 hotel stays by American visitors in 2024, a 10% increase compared to 2019. This surge has positioned Americans ahead of traditional European visitors from the United Kingdom, Germany, the Netherlands and Italy, and is giving reasons to more seriously court these visitors from across the pond.

Read more: Monaco celebrates tourism success and sets sights on 2025

The area’s resurgence in popularity can be partly chalked up to several new direct flights from major US cities such as New York, Philadelphia and Atlanta into Nice, making the region much more convenient to visit. This is backed up by the fact that in 2024, Nice Côte d’Azur Airport reported a 40% increase in passenger traffic between the French Riviera and the States. This growth is set to increase with a new route to Washington DC starting on 23rd May.

The hospitality sector has been kept on its toes as well and has responded to this influx with the introduction of new hotels near the airport and upscale establishments, like the Victoria and the Hôtel du Couvent. These five-star accommodations offer stylish rooms, restaurants appealing to foodies and top-notch spas, catering to the specific tastes of American visitors.

See more: Two new French Riviera hotels rated among the best in the world by Luxury Travel Intelligence

US tourists have long been drawn to the charm and history of Nice, from the narrow winding side streets of Old Town to the Cours Saleya’s très charmant flower market, great shopping and cultural sites such as the Chagall and Matisse museums. But while they clearly go in for the usual tourist fare, they also seem to be looking for more immersive experiences. Cooking classes in English, focusing on traditional dishes like farcis niçois, have become particularly popular, for example.

The real estate market has felt the impact of American interest. Olivier Roquin of Nice’s Agence Winter told France 3 Côte d’Azur that he has seen a significant increase in the number of American buyers, revealing, “One in two sales [in the city] is with Americans.”

These buyers, typically over 50, have disposable income and free time. Their preferred choices appear to be Belle Époque-style properties in the €400,000 to €800,000 range, and within walking distance of local amenities.

Read more: Escape from Monaco: exploring boutique hotel gems in the South of France

Roquin attributes this trend partly to political factors, stating, “The trigger is politics, but the decision to come to Nice is the setting! And above all, they love the image of our President Macron, who defends Europe and stability.”

In Monaco, the American presence is also growing, though more modestly. According to the Monegasque Institute of Statistics and Economic Studies (IMSEE), as of 2023, there were 449 American residents in the Principality, up from only 366 in 2016.

This number reflects a steady, albeit gradual, increase in recent years. However, specific challenges, such as tax obligations tied to US citizenship and stringent banking regulations under the Foreign Account Tax Compliance Act (FATCA), still temper the influx. These factors make it difficult for Americans to open bank accounts in Monaco, leading some to opt for neighbouring French towns that give them access to Monaco’s many amenities.

Read related:

The faces of Monaco: census reveals who really lives in the Principality

Monaco Life is produced by a team of real multi-media journalists writing original content. See more in our free newsletter, follow our Podcasts on Spotify, and check us out on  Facebook,  Instagram,  LinkedIn and Tik Tok.   

 

Photo credit: Nick Karvounis, Unsplash

Prince Albert II to wave off 2025 edition of women-only Rallye Aïcha des Gazelles

by: Kyriaki Topalidou
10/04/2025

This coming weekend, the Principality will host the official departure of the prestigious women-only Rallye Aïcha des Gazelles, a daring race through the deserts, mountains, and rugged terrain of Morocco after an initial stint on the Riviera. Prince Albert II of Monaco has been tasked with giving the starting signal on 12th April at the end of a day of exciting activities in the Village Départ in Fontvieille.

On Saturday 12th April, Prince Albert will greet this year’s Rallye Aïcha des Gazelles competitors on the start line before waving off the teams in the early afternoon as they embark on an epic journey to Morocco. Monaco has been a long-standing supporter of this female-only off-road competition, which will continue until 26th April under the High Patronage of King Mohammed VI of Morocco.

The Village Départ in Monaco, situated near the start line at the Espace Fontvieille, will be welcoming the public from 9am. Attendees will have the unique opportunity to meet competing teams and get a closer look at their vehicles before they face the challenging desert terrain. There will also be a number of interactive stands from key partners of the event, such as Volvo, Ferrero, Cawe, and Bosch. Lego Masters finalist Eliès will showcase his exceptional brick creations, including a perfect replica of a Gazelle 4×4, while the official rally merchandise will be available at the Maiengastore boutique.

Entertainment will be provided throughout the day, with the vibrant Batucada Pangea percussion group set to perform at 9.50am, 11.10am and 1.50pm. Artist LNA will take to the stage at 10.30am, followed by a special concert featuring Chérie FM artists at 11.30am. At noon, Jean Marc Généreux will create a festive atmosphere by leading the Gazelles in dancing to Sabrina Carpenter’s hit song Espresso.

For those making a day of it, gourmet options are available on-site courtesy of Le Catering Robuchon Monaco, whose talented team continues the exceptional culinary legacy of renowned Chef Joël Robuchon.

The afternoon will wrap up with the emotional departure ceremony from 1.45pm, where the competitors will say their farewells to their families, friends and supporters before boarding their vehicles. At 2pm, Prince Albert II will give the official starting signal, sending the competitors on their way to Morocco.

This high-profile event is set to offer Monaco residents and visitors alike the perfect opportunity to support their favourite teams before they head to North Africa. The Village Départ represents where the adventure begins – a fitting start from a Principality known for its prestigious motorsport heritage.

Read related:

Major road resurfacing project begins ahead of E-Prix and Monaco Grand Prix

 

Monaco Life is produced by a team of real multi-media journalists writing original content. See more in our free newsletter, follow our Podcasts on Spotify, and check us out on  Facebook,  Instagram,  LinkedIn and Tik Tok.   

Photo source: Rallye Aïcha des Gazelles

Trump slaps 125% tariffs on China, freezes others for 90 days in astonishing volte-face

by: Stephanie Horsman
10/04/2025

In a dramatic turn of events in global trade tensions, US President Donald Trump has announced a 90-day pause on most tariffs, excluding China, which will instead face a steep hike to 125%. The move comes as part of what the White House is calling a calculated economic offensive aimed at isolating Beijing, while the European Union, having revealed its own retaliatory tariffs against US goods in response to earlier American trade measures, may have to go back to the drawing board.

Donald Trump has shaken up world trade once again, announcing a 90-day freeze on most of the US’s previously announced tariffs for overseas nations, while simultaneously unleashing a punishing 125% tariff on Chinese imports. The move, hailed by the White House as a strategic power play, comes as the European Union retaliated with its own wave of excises on American goods, only to be confronted with Trump’s volte-face.

The President revealed his snap decision in a post on his Truth Social platform, saying, “I have authorised a 90-day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately.”

But the leniency stops at China. Trump has announced that tariffs on Chinese imports were due to what he called the “lack of respect that China has shown to the world’s markets”. The tariff hike is effective immediately and has already rattled global markets, with analysts warning of further economic fragmentation.

The White House quickly moved to defend the administration’s strategy. Press Secretary Karoline Leavitt framed the move as a diplomatic win rather than a protectionist blunder.

“Many of you in the media clearly missed the ‘art of the deal’. You clearly failed to see what President Trump is doing here,” said Leavitt. “You tried to say that the rest of the world would be moved closer to China when, in fact, we’ve seen the opposite effect. The entire world is calling the United States of America, not China, because they need our markets. They need our consumers.”

After the 90-day pause announcement, Wall Street, which had been tanking, made an incredible rally. Trump had taken to social media earlier in the day, saying “This is a great time to buy!!!”, which has now led watchers, including the US House Committee on Financial Services, to question whether this wasn’t an elaborate insider trading setup.

The Committee’s X post accused as much, noting, “Hours before his 90-day tariff pause announcement. The President of the United States is literally engaging in the world’s biggest market manipulation scheme.”

EU reaction

Meanwhile, the European Union has fired back at the broader US tariff regime with its first formal wave of retaliatory tariffs. In response to the US’s 25% tariffs on European steel and aluminium, the EU will impose 25% duties on an array of American products ranging from soybeans and tobacco to orange juice and yachts. These measures, approved on 9th April just hours before the Trump backdown, are expected to impact about €21 billion worth of US exports annually if carried through.

EU officials have stated that the levies could be lifted if the US returns to the negotiating table, keeping the door open for a possible cooldown of flared tempers and frayed nerves.

“They [EU tariffs] can be suspended at any time should the US agree to a fair and balanced negotiated outcome,” noted the European Commission’s trade spokesperson, Olof Gill, on X.

See more: EU defence initiative rebranded as ‘Readiness 2030’ after backlash from Italy and Spain

The bloc’s opening salvo follows weeks of behind-the-scenes negotiations among EU member states, the European Commission and industry leaders. Some last-minute changes were made to the retaliation list to avoid provoking further US countermeasures. For example, France, Ireland and Italy succeeded in lobbying to exclude Bourbon whiskey after Trump threatened a stiff 200% duty charge on European alcohol.

Notably, Hungary was the only EU member state to vote against the measure. The full list of targeted US goods has not been released but is currently scheduled to take effect gradually between 15th April and 1st December, allowing time for potential de-escalation after Trump’s latest bombshell announcement.

With uncertainty over what the latest terms are, concern over how long Trump’s mood swing will last and China facing unprecedented tariffs, global trade relations are entering a precarious new phase. Whether this is the beginning of renewed negotiations or a deepening of economic hostilities remains to be seen.

Read related:

New 2025 limits: How much can you earn tax-free in France?

 

Monaco Life is produced by a team of real multi-media journalists writing original content. See more in our free newsletter, follow our Podcasts on Spotify, and check us out on  Facebook,  Instagram,  LinkedIn and Tik Tok.  

 

Photo source: Donald J. Trump, Facebook