Gouvernement Princier de Monaco

Economy Bulletin 3rd quarter 2016

Couverture BTE 3T 2016

The Bulletin of the Economy for the 3rd quarter of 2016, on data collected since 1 January, is available online.

The main economic indicators at the end of the third quarter of 2016 show contrasting results.

After a slow start to the year, employment rose for the second consecutive quarter (+0.5%), thanks to Other Service Activities, while the number of employers continues to rise.

The real estate sector, which was already performing well, continues to show an increase in the number of transactions for both new and older properties, while average prices are increasing, due to the effect of larger surface areas being exchanged.

The overall turnover, excluding Financial Activities and Insurance, decreased. Eight major sectors out of eleven took a downward turn. Wholesale Trade, the leading sector in terms of turnover, fell by more than 6% (-217 M€).

Touristic activity was negatively impacted by the July terrorist attack in Nice, the repercussions of which affected results for the period.  Despite lower visitor rates, Average Revenue per Room is increasing.

For further information, download Bulletin of the Economy for the 3rd quarter of 2016

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