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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Back to business at Larvotto construction site
Monaco is reopening the Larvotto construction site to workers, saying the beach project is “essential for the development of the Principality”.
Request for Extraordinary Minimum Income
Monaco’s self-employed entrepreneurs will have access to a minimum monthly income as part of the government’s new economic measures, effective immediately.
€280 million to cover Monaco’s workers
The Prince’s government has announced another raft of economic measures to support employees impacted by the Covid-19 crisis.
New division to help businesses
The government has created a ‘Covid-19 Businesses Unit’ to help companies affected by the health crisis, as well as a general information web page in English for citizens of the Principality.
Trader's union wants blanket rental relief
The president of Monaco’s Trader’s Union is calling on the government to step in amid complaints that private owners are not offering rental relief for small businesses in the Principality.
Salaried employees up 2.9% in 2019
Monaco’s private sector saw a 2.9% rise last year in workers holding full time contracts over the year before.
