The Monaco Monitor

This past Friday, February 16, 2007 was held the scientific and technical committee of the Foundation Prince Albert II of Monaco. The purpose of this first important meeting was to select the projects which will be supported during the whole year 2007. The committee includes 16 distinguished members who received (more…)

ast Tuesday February 13^th, two ceremonies took place in the Prince Palate. One for the accreditation of Mr. Mohamed Jaham Al Kuwari, Ambassador extraordinaire and plenipotentiary of Qatar near the Principality of Monaco, the second for Mr. Eric Calcagno y Maillmann, Ambassador extraordinaire and plenipotentiary of Argentina near the Principality of Monaco. Now, thirteen powerful foreign countries are accredited near the Principality. 

Monaco is breaking through its barriers in order to charm its regional clientele. Immediately after announcing the 2006 results, the Monaco Tourist and Convention Authority is organizing a day dedicated to the Principality in the Hippodrome of Cagnes-sur-Mer on Saturday 24th February from 11.45 a.m. (more…)

On February 20, 2007 the administration of Monaco will face the change of its phone numbers because of saturation. But this regards only the first fours figures, that is to say we will have to deal “98 98″ instead of “93 15″ followed by the identical last four figures. To sum up on next Tuesday the current phone number to reach an administrative department will be henceforth 98 98 80 00. Regarding the fire department, the police and the City Hall of Monaco, numbers remain unchanged, for the moment.

The Monaco Government held its traditional press briefing on Monday 12th February. A dossier regarding the modernisation of the public services featured as number one priority amongst the issues raised. The Minister of State announced that an opinion poll involving 400 people (residents of the Principality, including Monegasque and non Monegasque citizens) would take place on 12th and 13th March 2007 in order to get their opinion on the public services. (more…)

Monaco. In another time, acrobats and go-go dancers would probably not have entertained a chef at his 80th birthday party. The food would not have been prepared by chefs from Japan, Australia, Norway and Spain — as well as France. A chef’s birthday would not have been an occasion for anything like the three days of hoopla this past weekend in Monte Carlo. (more…)

With an increase of 14% in the number of overnight stays between 2005 and 2006, figures for the tourist industry in the Principality of Monaco have continued to develop positively. These results set 2006 as the new year of reference as they have exceeded by 7% those achieved in the record year of 2000. During the annual meeting of overseas representation offices, Michel Bouquier, Chief Representative for Tourism, gave a full assessment of the past year.  

In 2006, Monaco accommodated just under 310,000 tourists, in other words, an additional 115,000 nights compared to 2005 with a total of over 900,000 overnight stays. In terms of market share, the Italians are the best clients as far as hotel stays are concerned (19%), followed by the French (18%), the British (15%), North Americans (13%), the Germans (5%) and the Russians (4%). A parallel should be drawn between these positive results for 2006 and the 12% increase in hotel facilities, i.e. 90,000 more rooms in 2006 compared to 2005. Figures for pleasure tourism were particularly impressive with +12% of additional arrivals (245,000 arrivals in 2006 compared to 219,000 in 2005). Figures for business tourism also showed satisfactory growth with +4% of arrivals and +6% of additional overnight stays. As for the local market, this sector currently represents 11% of the market share. There has been an annual increase of over 35% in the number of passengers within the cruise industry, i.e. 47,000 additional tourists. 

Last but not least, various initiatives were introduced overseas throughout 2006, particularly in the Far East including the opening of a representation office in Shanghai, the launch of a traveling exhibition dedicated to Princess Grace in nine major cities in Japan and the first market survey in India.

Due to the current overloading of the system, the Monegasque Public Services will be changing their telephone number on 20th February at 8 a.m. From this date, callers should dial “98 98” instead of “93 15”, the last four digits remain unchanged. The Public Services switchboard is changing to 98 98 80 00. The law enforcement authorities (police and fire brigade), the Public Safety Department and the Municipal Hall will all keep their original numbers. 

Lloyds TSB International Monaco sponsors dinner debate. The banking sector in Monaco is flourishing, but there are challenges ahead to ensure growth into the next decade. This was the message at a dinner organized by the Jeune Chambre Économique (JCE - Young Chamber of Commerce), in partnership with Association Monégasque de Banques (AMB) and sponsored by Lloyds TSB International Private Banking, Monaco. 

In his talk, Pierre de Pellegars, AMB’s Vice-President of banking regulation and market development, emphasised the key elements for the future which are: to ensure security and confidentiality; to continue the battle against money laundering; and to nurture young talent. Among those present was Henri Fissore, advisor to the government on Exterior Affairs. Bassem Kamar, Economics Professor Fond Monétaire International, SEM Jean Castellini, advisor to the Prince’s Cabinet, and Dominic Voisin, Director of Lloyds TSB International Private Banking Monaco. Bank sector statistics AMB has 71 members, of which 41 are banks and 30 asset management companies. In total they employ around 2,700 people. Assets under management in the Principality amount to some 69.7 billion euros.

Former president Nelson Mandela met Princess Caroline of Monaco at the Nelson Mandela Foundation in Johannesburg today. A frail-looking Mandela emerged from the building with his wife Graca Machel and Princess Caroline to greet the media contingent waiting on the lawn. Dressed in a silver Madiba shirt, black trousers and leaning on a walking stick, Mandela greeted journalists as well as photographers. (more…)