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L’emergenza globale che abbiamo affrontato ci ha insegnato tante cose. A trovare più tempo per noi, a capire che talvolta ci si può incontrare anche via etere, a lavorare anche da casa con buoni risultati, ma soprattutto ci ha fatto capire l’importanza di pianificare e programmare le strategie aziendali per il futuro.
Senza strategie chiare e definite le nostre aziende rischieranno molto tra qualche mese.
L’attenzione deve essere alta e ancora di più dobbiamo valorizzare l’importante momento storico, che ci vedrà coinvolti da qui alla fine dell’anno, ovviamente per chi vorrà esserlo, nella fondamentale battaglia per i nostri diritti in Europa.
Più contributi all’Italia, più aiuti alle imprese, più sostegni ai comparti trainanti della nostra economia.
Con il mio Team siamo a disposizione per tutte le informazioni che ritenete necessarie e per un confronto gratuito, telefonico o in call, per scambiare opinioni e condividere idee.
A presto.

Hotel and Restaurant sector continues with strong growth.

The hotel and restaurant sectors of Monaco have shown strong growth for the fifth year in a row.

Recently published statistics for the year 2018 by IMSEE, the official statisticians of Monaco, show that hotels and restaurants are the second largest private employers in the Principality, representing 8.4% – or €513.6 million – of the annual GDP, and 5.2% – or €746 million – of total sales figures, excluding financial and insurance activities.

This translates to this sector being the sixth highest contributor to the GDP and seventh in terms of sales figures respectively.

With 305 establishments, 195 employers and nearly 7,800 workers, it is certainly an important part of the Monegasque economy and is second in the private sector only to scientific and technical activities, administrative services and support. The vast majority of those employed are French nationals, followed by Italians, though Monegasques represent a significant percentage. In fact, almost 45% of Monegasques employed in the private sector work in either a hotel or restaurant. They also tend to be in their mid to late 30’s or early 40’s and have made careers in this industry, leaving it fairly stable.

Hotels in the Principality brought in nearly €1 million more than just five years ago and restaurants can boast a jump in sales during the same period of roughly €300,000. That’s an impressive 11.9% total increase over 2017, with hotels being the dominant earners of this sector comprising 71.5% of money coming in.

The massive gains are due in part to the reopening of the Hôtel de Paris and the completion of renovations at the Hôtel Columbus, which allowed Monaco to welcome more visitors, but also due to an economic agent used by the Principality that has consolidated the financial declarations of the different divisions under the heading Hotels and Restaurants. It is also noteworthy that over 80% of the hotel offerings are in the four or five star range, meaning they will have price points above the average.

On the downside, there were fewer total establishments in this sector than the previous year, with 23 closings and only 16 new openings, but the loss didn’t translate to lower sales overall. Another shortcoming is the number of women employed in these industries. They represent only 30% of workers compared to 40% in Monaco’s overall private sector work force.

All in all, though, things are on the ups for the hotels and restaurants of the Principality, with continued growth forecasted for the future.

By Cassandra Tanti - December 22, 2019

Monaco posts budget surplus for 9th year running

Monaco has been running an extremely tight economic ship for nearly a decade now, with new figures showing that the Principality has recorded its ninth consecutive year in the black.

Last Friday, Minister of State Serge Telle and Minister of Finance and Economy Jean Castellini held a breakfast press conference at the Ministry of State to announce the initial budget plans for 2020.

The Minister of State was proudly able to explain that the government has been running at a surplus, saying that Monaco’s government is the “protector and stimulator (of the economy) where in other countries, the State is erased in the face of globalisation.” He went on to say, “For the 9th consecutive year we have a budget surplus. It is the result of a policy of a government that works on attractiveness and on economic development.”

One of the key areas this surplus will be used in is housing. The new budget is allocating an unprecedented €174 million to new housing projects, which translates to roughly 200 more homes by October of next year. The goal is to deliver 900 in total by the end of 2023.

He also addressed the Jardins d’ Apolline fiasco, and how the government was able to rectify the problems promptly and efficiently due to the strong health of Monaco’s finances.

Other important issues touched on were mobility, quality of life and the digital transition programme, and how the economy’s strength is allowing these changes to occur, but also to point out that the policies enacted are creating savings in the long run. For example, digital transition will save 3.4 tonnes of paper each year, which clearly translates into monetary as well as environmental savings.

Mr. Castellini reminded those present that it is not all dollars and cents, stating, “In the economy, there is the human and the social. We create jobs…1,600 in one year. Job creation in 2019 is well above the average of the last 10 years. This testifies to the attractiveness of the Principality.”

Mr. Telle wrapped up the meeting with a vow to augment commitments to the citizenry in terms of the aforementioned housing, digital transition and mobility plans as well as to remind everyone of the achievements already being made.

By Stephanie Horsman - December 9, 2019
Top photo: Communication Department / Charly Gallo