Business & Finance
Monaco’s GDP doubles in a decade: which industries are fuelling the Principality’s growth?
Monaco’s economy has almost doubled in size over the past decade, with GDP soaring from €4.94 billion in 2013 to €9.24 billion in 2023, according to the latest IMSEE data. This rapid growth, in stark contrast to slower recoveries across Europe, positions the Principality as an economic powerhouse driven by high-value industries.
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SBM and unions reach deal over job losses
After five months of negotiation, Société des Bains de Mer, Monaco’s largest employer, has reached an agreement that will result in over 200 voluntary retirements and four forced retirements.
Parking increase on hold
The government is suspending a controversial rise in public car parking fees amid claims the move goes against Monaco’s green vision.
Wealth Report 2021: the results are in
How deep do your pockets need to be to join the wealthiest 1% in Monaco? What will the biggest influences on wealth creation be in 2021? We look at the latest Wealth Report to find out.
Owners of two or more cars targeted in price hike
The government is cracking down on car owners who leave their cars parked in public lots for extended periods without moving them by hiking rates up by €60 a month.
Financial aid extended
The government has strengthened economic aid for businesses hard hit by the Covid health crisis, guaranteeing further support for the first quarter of 2021.
New Ambassador of Monaco to Australia
At more than 16,000kms and 10 hours apart, Monaco’s Ambassador to Australia Marie-Pascale Boisson has presented her credentials in the first virtual diplomatic ceremony of its kind.
