With the team’s president, Dmitry Rybolovlev, watching on, AS Monaco clinched an important victory against RC Lens over the weekend that has propelled the Monegasque side back into the top three of the Ligue 1 rankings.
After a disappointing defeat at home to Toulouse, Monaco was eager to bounce back and demonstrate the fighting spirit that saw them triumph in the Derby against Nice earlier in the month.
The match against Lens, a team just eliminated from the Europa League by Fribourg, but still a formidable opponent in Ligue 1, was seen as a perfect opportunity for redemption.
Match highlights
Monaco quickly took control, with Folarin Balogun opening the scoring in the 19th minute. Despite doubling their lead thanks to a Takumi Minamino goal minutes later, Lens narrowed the gap soon after.
The second half saw Lens land an equaliser, but Minamino came through with a final third goal for the Rouges et Blancs to finish the game 2-3.
Coach Adi Hütter praised his team’s performance, saying, “It was a hell of a game between two teams that fought hard… It’s fantastic to come here and win, everyone enjoyed it, even the Lens fansm who must be disappointed.”
Mohammed Salisu, an AS Monaco defender, reflected on one of the match’s most climactic moments, saying, “It’s very difficult to score in this stadium, so when Taki [Minamino] did it, everyone exploded.”
AS Monaco’s ability to secure points against top-half teams has been a real strength this season, with only Paris Saint-Germain outperforming them in this regard.
As the season progresses, Monaco’s sights will be set on maintaining – or improving – their podium position and continuing their challenge for the highest honours in French football.
The next League 1 match is scheduled for 1st March against Paris Saint-Germain at home in the Stade Louis II.
Days out from the first race of the 2024 Formula 1 season, Monegasque driver Charles Leclerc wound up a successful few days of testing feeling positive about the changes made over the winter, but admitted, “It is still difficult to assess [the car’s] level of competitiveness right now.”
Preparations for the 2024 Formula 1 World Championship, which begins this coming weekend, stepped up a notch last week as the grid headed to Bahrain for three intense days of testing on the track the drivers will race on come 2nd March.
For Monegasque Charles Leclerc and his Spanish teammate at Ferrari, Carlos Sainz, the Sakhir track provided an opportunity to put to the test the new SF-24 and experiment with their cars’ potential by trialling various fuel loads and tyre compounds.
In total, the pair completed 432 laps to cover more than 2,250 kilometres, the equivalent of over seven Grands Prix. It was the second highest total of all the teams.
“Our first morning of testing was quite productive. As for the performance, it’s just too early to comment or draw conclusions,” reported Leclerc. “We ran all the tests we planned to and things are going ahead as expected, which is a positive.”
The Monaco-born driver’s confidence seemed to grow as the testing sessions continued, despite a red flag causing some delays on Day 2.
“The first two days have gone well as we have run our full programme, although at this stage, we can’t say how competitive we are. I think the first time we will get an idea of where we stand will be in qualifying next week,” he said. “We made some general changes to the car today and yesterday, with our focus shifting to fine-tuning our set-up on the last day of testing.”
Monegasque Ferrari driver Charles Leclerc recorded the second fastest lap of the testing sessions. Photo credit: Scuderia Ferrari Media Centre
By the end of testing, Sainz had recorded the fastest lap, with Leclerc just behind him. Trackside F1 commentators described the pair as seeming “cautiously optimistic about how the team had carried out their programme”.
“We achieved our goals without a hitch, gathering extensive data and ensuring the SF-24’s predictability and ease of handling,” said Team Principal Frédéric Vasseur. “These were three productive days, with no technical problems, which is what you want most, especially when it’s the only session before the start of the season. Looking just at our own performance, we have got off on the right foot.”
The team’s thoughts will now shift to the upcoming opening stage of the season in Bahrain.
“It’s full focus on the race and I can’t wait to be back on track next week,” said Leclerc.
Monaco has completed another step towards its Moneyval compliance, this time with the adoption of part four of bill no.1084 by the National Council relating to trusts.
During an Extraordinary Session on Thursday 22nd February, the National Council voted on bill no.1084, adapting the legislative provisions relating to the fight against money laundering, the financing of terrorism and the proliferation of weapons of mass destruction (part IV).
“The vote on bill no. 1084 allows us to have legislation that is fully compliant with the recommendations of the FATF (Financial Action Task Force),” said Thomas Brezzo, President of the Legislation Commission.
Part IV is in addition to law no. 1.549 of July 2023 relating to central preventative measures, law no. 1.550 Pt.2 of 10th August 2023 on transparency of legal entities, and bill no. 1080 pt.3 passed in November on repressive measures.
The provisions of the law primarily relate to trusts and deals with certain aspects that could not be covered by the previous legislative reforms, and makes further amendments to laws already reformed.
The text includes the addition of the concept of the trustee’s “domicile”, of keeping updated information on the beneficial owners of trusts for control considerations in Monaco, of the need to keep updated information on professionals who enter into a business relationship or carry out a transaction with the trust that’s been set up or transferred to Monaco, to give authorities access to information on trusts, and the mandatory registration of trusts with the Economic Development Department.
“On this major issue for the image and reputation of the Principality, the elected representatives of the National Council respected their commitments to provide the Principality with effective legislative texts, meeting the best international standards in the fight against money laundering and financing of terrorism,” said the National Council in a public statement.
Fast fashion might be a cheap way to keep up with the trends, the industry is a major source of pollution and may even be harmful to human health, which is why one young French politician has launched a campaign for change.
According to Antoine Vermorel-Marques, a 31-year-old member of the Les Républicains party, the inexpensive and often sweatshop-sourced clothing sold by fast fashion brands the world over is not only damaging the environment and causing untold harm to biodiversity, but also seriously threatening human health.
He argues that change is desperately needed and has suggested slapping a €5 supplementary charge on all fast fashion purchases.
In a video posted on TikTok earlier this month, Vermorel-Marques hit home the seriousness with which he takes this issue.
In the clip, which can be found here, the young politician unpacks a series of items from the low-end and predominately online retailers with whom he takes umbrage in a style parodying social media’s community of fast fashion influencers and describes the pieces in detail.
@antoinevermorel42 Les vêtements à 2€ qui arrivent en avion, contiennent des substances nocives pour la santé et finissent sur les plages en Afrique, c’est non ! Je dépose à l’Assemblée nationale une proposition de loi pour instaurer un bonus-malus afin de pénaliser les marques et pour encourager les démarches plus vertueuses #shein#sheinhaul#ecologie#fastfashion#stopshein#pourtoi#fyp @lookbookaly @menezangel_ @loufitlove @lila_drila @cilia.ghass @tifanywallemacq @veronika_cln @lia__toutcourt @iamm_mae.e@IAMM_MAE.E ♬ son original – antoinevermorel
Picking up a pair of shoes from Chinese online mega-seller Shein, Vermorel-Marques notes that they have been “treated with phthalate, a substance which is an endocrine disruptor that can make us sterile”. Then he chooses a set of “so cute, so classy” baby clothes, remarking on how they have been doused with formaldehyde, a substance that “potentially causes cancer in babies”.
An estimated 92 million tonnes of clothing end up in landfill every year, with a large portion coming from online fast fashion titans such as the aforementioned Shein and its competitors, the likes of Temu and Boohoo.
Vermorel-Marques’ concept is to add a €5 surcharge on purchases from these cut-price imported brands while offering a counter €5 rebate on domestically produced and sustainably made items.
“What is key here is that it’s not another tax,” he says. “We’re not here to take money from you. We’re just saying: ‘If you pollute, you pay. And if you don’t pollute, you win.’ It’s a win-win for both the consumer and the planet.”
While opponents of the bill say it would penalise those on lower incomes, who can manage the minimal costs of fast fashion clothing – the average price of an item from Shein is €7 – but often cannot afford the more expensive but “better for the planet” pieces championed by Vermorel-Marques and are reluctant to buy second-hand items.
The bill is expected to be brought before France’s National Assembly for debate in the next few months.
Over the weekend, Prince Albert II and Princess Charlene of Monaco headed to the glamourous Alpine resort of Courchevel, where they were the guests of a charity auction and gala organised for the benefit of the Princess Charlene Foundation and the Club des Sports Courchevel.
The turnout for the second Courchevel Charity Gala, held under the Honorary Presidency of Prince Albert and British billionaire Sir James Ratcliffe, was impressive, with some 200 VIPs from the worlds of sport, business, the arts and European nobility, such as Prince Alexandre of Liechtenstein and his wife, Princess Astrid, coming together to support the event’s two chosen beneficiaries.
Held in the Crystal Globe Room of the Ineos Club House on 24th February, it was an evening filled with great food and music.
Before dinner, the attendees were treated to a concert by three extraordinary young musicians: 17-year-old Monegasque piano virtuoso Stella Almondo, French-South Korean violin prodigy Léo Couralet and France’s Gabriel Guignier, who has been playing cello since the age of five and is a student of Paris’ prestigious Conservatoire National Supérieur de Musique et de Danse.
Monegasque piano virtuoso Stella Almondo performed at the prestigious event. Photo credit: Eric Mathon / Palais Princier de Monaco
The highlight of the night was, no doubt, the exceptional auction that was headed up by auctioneer Olivier Valmier and French artist Richard Orlinski. The lots included spectacular works of art, exclusive culinary and touristic experiences, rare wines and sport merchandise signed by world famous athletes as well as a beautiful photograph of Princess Charlene.
A glamourous black and white photograph of Princess Charlene was one of the coveted lots presented for sale during the auction. Photo credit: Eric Mathon / Palais Princier de Monaco
All of the proceeds from the sales will go towards programmes put on by the Princess Charlene Foundation, the primary focus of which is water safety and drowning prevention, and the Club des Sports Courchevel’s kids club.
2023, a year characterised by long-lasting heat waves, high temperatures and average monthly rainfall levels well below their normal zones, was one of the hottest 12 months on record in Monaco.
This revelation, which has been confirmed by statistics published in IMSEE’s annual meteorological report, likely won’t come as a surprise to anyone living in and around the Principality.
According to the localised weather review, which was published in late February, two “distinct meteorological phenomena” punctuated a near record-setting year: high heat that preceded and continued well beyond the usual summer season and rainfall totals that were significantly below average for the third year in a row.
THE HEAT IS ON
Since the 1970s, average temperatures in Monaco have been steadily climbing.
The average maximum between 1971 and 1980 was just under 18.7°C, but by 2023 had shot up to 20.6°C. Indeed, the average overall temperature last year was a balmy 18°C.
During the hottest day of last year, the mercury climbed to 34.9°C, which is just shy of the record set in 2022: 35.1°C.
At the other end of the scale, 2023’s absolute minimum was 4.6°C. Unlike pre-2020, when negative temperatures were normal winter occurrences, temperatures haven’t fallen below 0°C in the last five years, according to the data collected by Monaco’s principal weather station in the Jardin Exotique.
HERE COMES THE SUN
There were an average 7.3 hours of sunshine per day in 2023. July was sunniest and clocked 326 hours, while December noted the least, with 130. Overall, there was just 0.3% difference between 2023 and 2022, the equivalent of a mere nine hours.
Precipitation levels were alarming low, with only 436mm of rain recorded throughout the entire year, compared to Monaco’s annual average of 794mm.
There were 46 rainy days in total, a full 17 days less than normal. Oddly, the rainiest day came in August, when 47.3mm fell in a single day. Overall, October was the wettest month of last year, racking up 90mm, while February came bottom of the list with a shocking 0mm.
After record lows in 2001 and then again in 2007, 2023 has the dubious honour of being among the three driest years on record in the Principality.
With the signing of a new multi-year agreement, wealth management specialists CFM Indosuez and Les Ballets de Monte-Carlo are set to continue a long-standing partnership that already spans more than 25 years.
CFM Indosuez Wealth Management has officially renewed its partnership with and support for the La Compagnie des Ballets de Monte-Carlo by signing a new three-year agreement that will last from 2024 to 2026.
Following the announcement, Jean-Christophe Maillot, the Choreographer-Director of Les Ballets de Monte-Carlo and who is pictured to the right of Princess Caroline of Monaco, remarked, “25 years of unwavering support, once again renewed, is unique and exceptional in the Principality of Monaco, particularly in the current climate. CFM Indosuez gives us the means to innovate in the art of choreography with Les Ballets de Monte-Carlo. Our relationship is based on deep mutual trust. This is precious to us and explains why CFM Indosuez is our longest-standing official partner.”
Mathieu Ferragut, the CEO of CFM Indosuez Wealth Management, has also shared his enthusiasm for the continued partnership, saying, “The internationally recognised quality of La Compagnie des Ballets de Monte-Carlo is a source of pride for the Principality. For CFM Indosuez, it is an honour and a pleasure to continue our 25 years of support. This three-year renewal of our partnership is perfectly in line with the Indosuez group’s ambition to promote excellence, know-how and passion, and to support talent. We look forward to many more years of shared history with the Ballets de Monte-Carlo.”
Les Ballets de Monte-Carlo, a historic artistic and cultural institution in Monaco that has been revitalised over the last four decades thanks to the enduring support of Princess Caroline, has gained substantial international recognition under Maillot’s direction. La Compagnie is uniquely positioned in Monaco to combine the creation, teaching and showcasing of world-level ballet in its many forms under one roof.
Explore Les Ballets de Monte-Carlo’s upcoming schedule here.
Making its Monaco debut, the recent Junk Kouture event at the Grimaldi Forum dazzled with a fusion of global talent and sustainability, and put a spotlight on a collective creative journey towards an eco-friendlier fashion future.
Founded by Troy Armour, the first Monaco-based Junk Kouture competition was held on 22nd February.
It was an international showcase of creativity and dedication to environmental sustainability that was judged by an eclectic panel featuring the likes of fashion designer Stephen McLaughlin, content creator and model Lise Pierron, and Junk Kouture 2019 winner Lara-Jane Doherty. Hosting duties were managed by TV and radio presenter Louise Cantillon and TG4’s Daragh Ó Caoimh.
Event highlights
It was the official World Final of the Junk Kouture concept and championed innovative talents from across the globe. Six designers were honoured as the ‘Designer of the Year’ for their respective countries: Bubblefish from Paris, Medias Jiometri from London, Mother of Poison from New York, Bloody Mary from Milan, War of Woman from Abu Dhabi, and Dublin’s own #TagMe.
The Irish entry – ‘#TagMe’ by Eva Donlon, Evie Nugent and Méabh O’Shea from Moate Community School – won the ‘World Designer of the Year’ title. Their design, made from over 2,500 repurposed plastic colour samples to limit landfill waste, perfectly captured the competition’s focus on sustainability and creative reuse. Upon receiving the award, Donlon said, “Everyone who partook in the creation of this piece is a winner tonight.”
Representing the French Riviera, Vega Beroud of the International School of Nice, presented an eco-conscious design called From Coastline to Waistline that was inspired by the beaches of the south of France and was constructed from recycled materials.
Beroud shared her motivation for the collection, saying, “Our goal was to capture the essence of the south of France, bringing its sunshine and coastlines into the competition”.
Her design won the ‘Performance Award’ that had been backed by the Kate Powers Foundation.
A special mention goes to Tonnes of Tradition by Aisha Khan, Khadija Bibi and Harjass Kau of Coláiste Nano Nagle, Limerick, which won the ‘Cultural Couture Award’ that had been judged by the International School of Monaco. Their garment blended European and Asian influences, and was crafted from upcycled materials such as eco-friendly wool and curtains, as well as featuring 400 hand-sewn triangles on recycled bed sheets. It was hailed as a piece demonstrating a rich cultural tapestry.
Welcome to the world of MoNa, a remarkable eco-friendly marvel nestled in the heart of Monaco. With an innovative blend of luxury and sustainability, this residence building offers a unique living experience that is both opulent and environmentally conscious.
MoNa Residence, delivered by the Groupe Michel Pastor in September 2021, is defined by its unique wallflower design that was inspired by the name of the street in which it stands – Rue des Giroflées. Located in the east of Monaco, it sits above the Principality city and towers 22 floors high.
Inside, the building is decorated with the finest materials: Calacatta Caldia white marble, light oak, glass and brushed brass. It is a harmonious symphony of elegance from the bespoke lobby to the penthouses, all imagined by internationally renowned designer Oraïto, whose aim was to “create a true sensory experience”.
The curved building is not only aesthetically pleasing, it is useful for conserving energy
Each of the 66 apartments offer jaw-dropping views of the Mediterranean Sea and a perception of being suspended between light and air, thanks to Architects Jean-Michel Wilmotte and Rainier Boisson.
But it is deep in the foundations of this 86-metre-high tower where the true magic lies.
Below the state-of-art sauna and heated indoor pool hides an innovative network that feeds geothermal energy to the towering structure above. Combined with the building’s solar panels and rainwater harvesting system, MoNa is almost completely energy self-sufficient.
MoNa Residence manages to achieve environmental sustainability without compromising on the quality of life. The building was constructed with eco-friendly materials, including recycled steel and concrete with low CO2 emissions.
Meanwhile, the interiors are decorated with eco-friendly materials, such as natural wood and stone, which not only add to the aesthetic appeal but also reduce the use of harmful chemicals. The developers made a point to source as many building materials locally as possible, and from sustainable sources.
The MoNa Residence has also implemented smart technology to optimise energy efficiency, such as motion sensors to control lighting and temperature.
The result is a luxurious living space that is not only beautiful but also eco-friendly.
Mobile shutters allows residents to control the amount of sunshine that enters the apartment without compromising on light
Cutting-edge technology for energy efficiency
Energy efficiency is at the core of operations at MoNa Residence. The luxury complex is fitted with cutting-edge technology that helps to reduce energy consumption while maintaining a comfortable living experience for residents.
The building’s façade has been designed to maximise natural light, which minimises the need for artificial lighting during the day. The large, circular balconies serve as a “basketball cap” of sorts, shielding the interior from the direct sunshine that is generated 300 days of the year here in the Principality of Monaco, while movable shutters make it also possible to control the sunlight.
Smart sensors are used throughout the building to regulate temperature and lighting automatically, sensitive to occupancy and external conditions.
The air conditioning system is equipped with heat recovery units that extract heat from exhaust air and use it to preheat incoming fresh air. The building is able to maintain a constant temperature of 26°C in the summer months, and 20°C in the winter months, with a real feel of around 23°C.
Residents also have access to a mobile app that allows them to monitor their energy consumption in real-time, encouraging them to make more conscious decisions about their energy usage.
All these innovative measures help MoNa Residence to achieve an impressive energy efficiency rating, and make it a model for sustainable living in Monaco.
The solar panels, geothermal energy loop and rainwater harvesting system make MoNa almost completely energy self-sufficient
BREEAM Certification: a first in continental Europe
The MoNa Residence has been recognised for its energy efficiency and climate goals, receiving several awards for its sustainable design and practices. Among the highest, it achieved a remarkable feat by becoming the first residential project in continental Europe to receive BREEAM certification at the ‘Excellent’ level. BREEAM, which stands for Building Research Establishment Environmental Assessment Method, is a globally recognised sustainability assessment system for buildings. But it is certainly not a template.
“The regulation tells you how the performance of your building must be, but it doesn’t tell you how to achieve that,” says Serge Ginesy, Head of Sustainable Development Division at Groupe Michel Pastor. “So, there is a lot of work to do in designing the technical assets to choose the best way to reach the performance you want to reach.”
The key to achieving a successful sustainable building, says Ginesy, is team work, and a constant dialogue between all the players.
“All of the developers need to work together to achieve the same goals – to create something that is aesthetically pleasing, reaches sustainability goals, and meets the high standards that Monaco residents expect.”
The geothermal loop draws energy from the earth to power the building
Using the earth for energy
The building’s innovative measures include the use of geothermal energy for heating and cooling. For this, wells are dug in the first stages of the project to access hot steam and water contained in the underground. Upon rising to the surface, this heat is used to drive turbines that generate electricity.
The complicated task thereafter is knowing how to manage the building, to maximise the technology and to reduce energy usage as much as possible.
It is not possible to source geothermal energy for every building in Monaco, but there are some others utilising this technology, such as the Tour Odéon, La Petite Afrique and Villa Engelin.
For most sites in the Principality, the ocean is used to harvest thermal energy. The Principality now has more than 80 such water pumps operating throughout this coastal nation. With a complete ban on oil fuels for heating currently in force in Monaco, clean and green energy sources are an important energy solution in the Principality.
But MoNa undoubtedly serves as inspiration for pushing the envelope. Together with the solar panels and rainwater recovery system, MoNa has managed to significantly reduced its carbon footprint and become almost completely energy-efficient. It is an exciting lesson in innovation and proves that opulence and sustainability really can go hand in hand.
In honour of the final meeting of the Committee for the Commemorations of the Centenary of the Birth of Prince Rainier III on 20th February, we take a look back at the main events that punctuated a very special year for Monaco.
It has been a full nine months of homages, dedications and celebrations of the late Prince Rainier III in commemoration of what would have been his 100th birthday. The events have run the gamut between intimate, solemn, fun-filled and deeply touching with one thing abundantly clear throughout – the trailblazing and extremely modern Prince, who reigned for 56 years, was much-adored by his people and his family.
As it all comes to a close, Monaco Life is looking back on the standout celebrations and events held in tribute to this extraordinary man.
Official celebrations in the Palace Square. Photo source: Prince’s Palace
The kick off
The celebrations started on 31st May 2023, what would have been Prince Rainier’s 100th birthday, with a party at the Prince’s Palace on the Rock. Music, dancing and general merriment punctuated the all-day and evening event and a showcase of vehicles from the Rainier-inspired Prince’s Car Collection were trotted out, with some members of the Princely family taking turns behind the wheel.
Prince Albert, Princess Charlene and their children in a car from the Prince’s Car Collection, a project initiated by Prince Rainier III, on 31st May 2023. Photo source: Prince’s Palace
The commemorations continued with a series of lectures, films, exhibitions and concerts, including a gala hosted by the Rainier III Academy on 14th June featuring students accompanied by the Monte-Carlo Philharmonic Orchestra.
This was followed in July by the premiere of a documentary by Yann-Antony Noghes called Rainier III par Lui-Même and an exhibition entitled Rainer III, The Builder Prince, tracking the Prince’s commitment to modernising his state: physically, politically and economically.
Prince Albert with Princess Stephanie, her son Louis Ducruet and Lara Terlizzi-Enza, Director of the Office of Postage Stamp Issues, during the presentation of the €50 gold commemorative coin. Photo credit: Frederic Nebinger, Communication Department
Some other highlights include the minting of a €2 coin, as well as a €50 gold commemorative coin in his honour, musical shows featuring classical music and his beloved jazz, performances of his favourite ballets by the Ballets de Monte-Carlo, and a fun and well-received window decoration competition.
One of the biggest events was the Bal du Centenaire at the Casino on 20th October. Prince Albert and Princess Stephanie headed up the gala evening, that included a private performance by Leona Lewis on the stage of the Opera de Monte-Carlo.
Prince Albert II and Princess Stephanie dancing at the Centenary Ball in the Opera Garnier of the Casino de Monte-Carlo. Photo source: Monte-Carlo SBM
In November, Prince Albert and Princess Charlene inaugurated two canons from 1881 that have been recommissioned specially to mark the centenary of the birth of the late Prince Rainier III.
As 2023 came to an end, the annual Christmas Village, this year entitled Rainier III, Passionate Prince, was dedicated to him as well, featuring scenes decorated with photos of the Prince enjoying the things he loved most: motor sports, the arts, animals and the sea.
Prince Albert and Princess Charlene officially inaugurated the recommissioning of two cannons in November. Photo credit: Eric Mathon / Palais Princier de Monaco
But it’s not over just yet. The exhibition Un Prince, Un Musée (One Prince, One Museum) will br running until 31st March at the Museum of Prehistoric Anthropology.
Throughout the month of March, the Médiathèque de Monaco will be hosting a series of video game-themed events, including tournaments, exhibitions and movie screenings.
It may be hard to imagine, but mainstream video games have been around for five decades now. The first games from back in the 1970s were much less sophisticated affairs than today’s, with simple tennis-style games like Pong dominating the market. A few years later came the explosively popular Pac-Man and Space Invaders, games that really did take the world by storm.
The gaming world of 2024 is incredibly refined by those standards, with hi-tech advances in imagery and interactivity allowing gamers to enjoy experiences far beyond what was even imaginable in the early days.
To celebrate this rich alt-world, the Louis Notari Library, the Princess Caroline Library and the José Notari Video-Sound Library will be hosting a series of events focused entirely on video games next month.
Enthusiasts can attend video game-themed workshops, conferences, screenings, exhibitions and concerts, and there will even be a tournament headed up by The Nice Geek for the more competitive players.
In all, 19 events will take place over the course of the month. The full programme is available here as well as all the information you need on how to sign up for specific events.
For the very first time, the real and quantifiable economic impact of Monaco’s maritime sector has been revealed in an official report, confirming the enormous value of this industry in a Principality that “cannot exist without the sea”.
The sea has been a feature of daily life in Monaco since the very beginning. It is possible that the Principality owes its name to passing Phoenicians of the Ancient Mediterranean, who are believed to have stopped off in its natural harbours sometime around 1,700BCE and brought their style of civilisation to the Ligurian tribes who likely lived in the area.
In the millennia that followed, fishing boats would have been the most dominant crafts floating in the port, but today they have been largely replaced by sleek sailboats, luxurious motor yachts, giant cruise ships and vessels destined for international waters the world over.
In early February, the most important regional players in the yachting industry gathered at the Yacht Club de Monaco for the annual La Belle Classe Superyachts Business Symposium.
A platform for discussion on the trends, influences and challenges of the sector in Monaco and in the French Riviera, this year’s edition also provided Pascal Ferry and Benjamin Cauquil, the deputy director and research manager of IMSEE, with the perfect opportunity to present the statistical agency’s first ever compilation of data on the Principality’s maritime and yachting sectors.
Understanding the maritime industry
As explained in the report, Monaco’s maritime economy encompasses all activities that cannot exist without the sea, from trade and design to naval consultancy, repair and maintenance, legal services relating to maritime law, and fisheries and aquaculture, among others.
In 2022, the year from which the data was gathered, the maritime industry in Monaco was made up of 635 establishments representing a range of major economic sectors. The largest share belonged to the wholesale trade sector, followed by scientific and technical activities, then transportation and storage.
There were 15 companies dedicated to financial and insurance activities, nine handling retail trade, nine running affiliated information and communications businesses, and six construction entities.
Combined, these 635 businesses represented 3,268 employees and generated €1.8 billion in revenue in 2022 – almost 10% of the overall revenue produced in Monaco that year.
Yachting, a thriving sector
The yachting industry is considered a sub-sector of the maritime economy in the report, but accounted for 411 of the afore-mentioned maritime businesses, equating to 3.7% of all companies registered in Monaco, and employed just shy of 1,500 salaried workers.
The largest sector was, again, wholesale trade. Almost one in two yachting businesses recorded in the report were linked to this area of expertise, with a particular weight given to those involved in the sale of vessels.
Of the €567.1 million generated by the yachting sector in 2022, close to €310 million was produced by the wholesale trade sector. This influence was summarised in the report as being “largely thanks to the agents involved in the sale of ships, who generate more than half of the yachting turnover: €288.6 million or 50.9%”.
Other yachting sectors highlighted in the report: the scientific and technical activities sector, which generated €84.7 million, with €21.2 million deriving from specialist design services; and the transportation and storage sector, the second-largest after wholesale trade with a 17.8% share of total revenue. This sub-sector includes services such as chartering and transportation organisation (€43.6 million), sea and coastal passenger water transportation (€47.1 million) and service activities incidental to water transportation (€47.1 million).
Monaco’s role in the regional yachting scene
Alongside the presentation of the IMSEE report, a number of enlightening insights into Monaco’s role in the broader yachting industry of the French Riviera were also revealed. It is estimated that the yachting sector in the ‘Région Sud’ brought in €1.1 billion during 2022, meaning that the Principality contributed close to half of this total.
Alluding to the positive changes behind made by Monaco’s own yachting industry, namely in the realm of environmental practice, François de Canson, the president of the Regional Tourism Committee, said, “We must embody the yachting of tomorrow, as it is in the Western Mediterranean where everything happens, is invented and implemented. It’s by combining forces with the Principality that we will rise to these challenges, while ensuring we maintain our attractiveness and continue to develop this sector in our region.”
In a landmark decision, the Conseil National has voted in a new law enshrining maternity rights for Monaco’s independent workforce.
The government-inspired bill was presented to the Council just three months ago.
On 22nd February, it became law following a unanimous decision by Council members, without amendment, to offer the same benefits enjoyed by public and private sector employees to independent workers affiliated with Monaco’s Caisse d’Assurance Maladie, Accident et Maternité des Travailleurs Indépendants (CAMTI).
A full breakdown of the rights accorded to pregnant women and new mothers in Monaco can be found here.
A COLLABORATIVE EFFORT
A collaborative effort between the CAMTI Control Committee, representatives of the Government and the Monaco Social Funds, the new scheme was created not only to benefit independent workers, but to improve the system in general.
According to Government Advisor-Minister of Social Affairs and Health Christophe Robino, the reforms “will make it possible to further strengthen the social protection system of the Principality”.
“This system will constitute, at the same time, an additional tool of socio-economic attractiveness in a key sector for the economy and competitiveness of the country,” he said.
The CAMTI scheme is the latest measure in a series of forward-thinking policies being instituted by the government, such as the establishment of family allowances under CAMTI, the legal sharing of leave among colleagues, and the extension of maternity and paternity leave to all workers, regardless of the sector they work in.
In the coming weeks and months, a further text on parental leave rights for private law employers is due to be discussed by the Conseil National.
In a landmark collaboration aimed at preserving the fragile ecosystems of polar regions, the Monaco Oceanographic Institute and the Alfred Wegener Institute have forged a strategic alliance. The partnership, inaugurated in the presence of Prince Albert II of Monaco, signifies a profound commitment to scientific cooperation and public engagement in the realm of polar, marine, and coastal conservation.
Against the backdrop of the prestigious Polar Symposium hosted by the Prince Albert II of Monaco Foundation, the Scientific Committee on Antarctic Research (SCAR), and the International Arctic Science Committee (IASC), the Oceanographic Institute and Alfred Wegener Institute (AWI) penned a historic Memorandum of Understanding on 22nd February.
The AWI conducts research in the polar regions, and provides ships such as the research icebreaker Polarstern, as well as stations to the international scientific community.
This agreement pledges a concerted joint effort over the next five years to advance research, protection, and public awareness initiatives crucial for safeguarding polar biodiversity.
It will include collaborative research projects, the organisation of scientific events, and the exchange of information useful for research.
Shaping the future of polar conservation
The partnership strengthens the actions already being jointly undertaken by the Oceanographic Institute and AWI in supporting the creation of Marine Protected Areas.
An engagement journey organised by the Oceanographic Institute to the Antarctic Peninsula welcomed several scientists on board, facilitating the collection of data on the Danger Islands archipelago, a rarely visited part of the peninsula. This data: biological, ecological, topographical, and pollution-related, will be valuable to AWI and will contribute to discussions surrounding the creation of a Specially Protected Area of Antarctica (SPAA) on the Danger Islands, home to one of the largest penguin colonies in the world.
Photo: Prince Albert II of Monaco with, from left to right, Robert Calcagno (Director General of the Oceanographic Institute), Timm A. Bergold (Honorary Consul of Germany in the Principality of Monaco), Prof. Dr Antje Boetius (Director of the Alfred Wegener AWI Institute), Henry Burgess (President of the International Arctic Science Committee IASC) and Cyril Gomez (Deputy Director General of the Oceanographic Institute). Source: Monaco Oceanographic Institute
Discover what’s new at the 2024 Rolex Monte-Carlo Masters, including ‘click & collect’ dining and a new broadcasting partnership.
The Rolex Monte-Carlo Masters tennis tournament is set to return from 6th to 14th April at the courts of the Monte-Carlo Country Club.
The 2023 tournament saw impressive figures, with over 140,000 attendees, 38.4 million television viewers, and 167.1 million social media views. This year aims to build on that success with several new features designed to enhance the spectator experience. These include the introduction of a ‘click & collect’ service for fast food, modifications to the seaside stands of the Court Rainier III to accommodate additional boxes, a new covered dining area, and a fresh broadcasting partnership with France Télévisions. This partnership will see one match per day aired on the france.tv platform and the final broadcast on France 4, complementing the comprehensive coverage provided by Eurosport France.
Additionally, the tournament will continue its support for the GEMLUC association (Group of Monégasque Enterprises in the Fight Against Cancer), which funds research and cutting-edge technology.
The final list of participating players is slated to be revealed in Paris on 12th March during a press conference, with ticket sales already approaching 130,000.
Organised by the Monégasque Company for the Operation of the Tennis Tournament (S.M.E.T.T.), the Rolex Monte-Carlo Masters marks the first Masters 1000 event of the clay court season, setting the stage for the summer tennis season on the French Riviera.
