Monaco’s corporate world falls short in gender equality

women monaco

On International Women’s Rights Day, Monaco’s statistical agency IMSEE published an information sheet on women and corporate governance in the Principality. It revealed that barely a quarter of top positions are held by women.

Globally, nearly 50% of women have gainful employment in the workforce, and just shy of four in 10 workers are female.  Despite this, a significant gender gap still exists at corporate level.  

On 8th March, recognised as International Women’s Day, IMSEE decided to take a fresh look at the Principality’s track record of women in leadership roles.  

Across the more than 13,500 people listed on Monaco’s Trade and Industry Register as having a governance role, 3,781 of these positions were filled by women in 2022. 

According to IMSEE, 28% of Monaco’s corporate governors are female, 29% of limited liability companies (SARL) have women in charge, 33% of the nation’s sole traders are women, and 22% are in power positions at public limited companies (SAM).  

The average age of women on the Trade and Industry Register is 50.9 years, and 69% of them live in Monaco. They represent 76 different nationalities, with 19% of these enterprising women being Monegasque. French women had the highest proportion outside locals with 31%, and 19% were Italian women.  

Of the 1,053 new businesses created in 2022, over a quarter – 296 – were started by women.  

Regarding the 531 governance roles filled in 2022, 158 went to women and 373 to men. 

Men still hold the dominate number of positions in the higher echelons of the corporate world and, in fact, women are in the minority in all activity sectors, though some sectors see more parity than others.  

The three most “feminised” spheres are: public administration, education, and health and social work activities with 38%. Retail trade comes in at a close 37%, and other service activities at 36%. At the other end of the spectrum, women represent just 19% of those employed in the financial and insurance industries, and 21% in construction, information and communication jobs.  


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Photo source: Marissa Grootes for Unsplash