Gouvernement Princier de Monaco

Economy Bulletin 4th quarter 2018

Couverture BTE 4T 2018

The Bulletin of the Economy for the 4th quarter of 2018, on data collected since January 1st, is available online.

In the fourth quarter of 2018, the Principality’s turnover, excluding financial and insurance activities, increased by EUR 402.4 million, or 2.9%. This was due to good performance in three sectors: scientific and technical activities, administrative and support services (+€157.6 million), real estate activities (+€151.8 million) and other service activities (+€133.6 million).

With 55,427 jobs, and more than 2,000 additional jobs compared with December 2017, salaried employment in the private sector was up at the end of 2018. Temporary employment once again played a significant role in these figures.

The number of businesses launched fell but the balance (launches minus closures) remains broadly positive (+299).

In the tourism sector, the number of room nights increased, exceeding 570,000 rooms for the first time. The rise in the number of rooms available for sale, due to the partial reopening of the Hotel de Paris, led to a slight drop in the occupancy rate. The numbers of ports of call and cruise passengers rose, in particular from luxury liners.

The property market experienced growth, with an increase in sales and resales.

For further information, download Bulletin of the Economy for the 4th quarter of 2018

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http://www.monacostatistics.mc/News/Economy-Bulletin-4th-quarter-2018