Monaco’s involvement in environmental protection is a major tourist asset.
How is the Principality seen across the Atlantic? Mrs Maccario Doyle, Consul General of Monaco in New York and North America Director, Monaco Government Tourist Office, answers.
The Principality has long-established ties with the United States…
Indeed, the two countries have had close ties for several generations. Prince Albert 1st was one of the first European sovereigns to take an interest in the United States and travel there – the first head of state to visit the west in 1913. Extremely inquisitive about everything and visionary, back then he anticipated the environmental concerns we have today. His Speech on the Ocean, delivered on 25 April 1921 at the National Academy of Sciences in Washington, is still a model for the scientific community. The same prestigious institution also awarded him the Alexander Agassiz Medal, an important decoration recognising his contribution to oceanography. Naturally the wedding of Grace Kelly and Prince Rainier III cemented and developed these ties. Monaco and the United States continue to maintain a close relationship, even if only through the Royal Family which retains a certain emotional attachment to the American legacy of Princess Grace.
Still very strong relations?
Certainly. Nowadays Monaco enjoys a significant presence in the United States, both on the diplomatic front and in cultural, economic and humanitarian fields. For example, the Ballets de Monte-Carlo regularly perform on American soil with great success. The company will in fact return in 2014, for performances in California and New York. Les Petits Chanteurs de Monaco will also perform their 2014 summer tour on the east coast. Our office – the Consulate General and Tourist Office – supports these initiatives which give the Principality unique visibility. Since 2008, Monaco has also been represented by the American branch of the Prince Albert II of Monaco Foundation – that has initiated partnerships with institutions such as the Field Museum in Chicago and the American Museum of Natural History in New York – and by the Princess Grace Foundation-USA, created by Prince Rainier in 1982. In the economic field, many Monegasque entrepreneurs have successfully set up in the US and more and more young people come to study there every year. Finally, the Royal Family makes regular private or official visits, and the Sovereign Prince in particular takes part in many events on American soil. From their side, Americans continue to appreciate Monaco, as evidenced by the figures. In 2012 and over the first nine months of 2013, North America (the United States and Canada) remained the 3rd largest generator of overnight stays, despite the unfavourable exchange rate. It is a mature market but it does need work, time and again. New York especially is a major economic centre that is home to key markets and the headquarters of leading international companies.
The Principality is known for its glamorous image…
That is true. Monaco has a magical coast that makes people dream. It brings to mind exceptional tourism, yachting, and sports. However, its history and culture are also an important attraction. We are fortunate to have cultural entities that are successfully exported, and quality events that help propagate an image more in line with reality. For a ‘young’ country like the United States, the presence of the same royal family for over 700 years fascinates people.
In addition, Monaco plays an active and leading international role in environmental protection. This interest in ecology has been in Monaco’s genes since Prince Albert 1st and it calls out to Americans. For them, our country has a conscience. For example, in 2008 Johnson Controls, an American construction group heavily involved in renewable energy, organised a meeting in Monaco. The Prince Albert II Foundation took advantage of the company leaders’ presence to present its activities. A year later, a partnership agreement was finalised. The Foundation is also involved in an initiative of the Mayor of New York following Hurricane Sandy which devastated the region last year. It is aimed at restoring the vegetation of coastal areas, essential for the long-term protection of communities.
So sustainable development is showing Monaco in a new light…
Absolutely, as well as the expertise of some Monegasque skills hubs, such as the scientific hub.
For example, the prestigious Prix Galien France, a benchmark in the pharmaceutical research industry, will be held in Monaco in 2014. This decision confirms the Principality’s rightful place in the scientific research sphere. Another example is the World Entrepreneur of the Year Awards event organised in Monaco by Ernst & Young, during which top entrepreneurs from over 50 countries meet in Monaco. A chance for them to appreciate the destination, but also the quality of service and events that Monaco offers.
The Finance hub accounts for 23 % of Monaco’s GDP. Do people in America realise that?
Americans are aware of the importance of the financial sector in Monaco, but the tax laws do not allow them to benefit from it. So not much activity comes from the United States. On the other hand, the quality of the IUM Master of Science in Finance is well-known there and does attract students. This is why an initiative such as the website Monaco For Finance is appreciated, allowing to have a global vision of the Monegasque financial center. Generally speaking, Americans consider settling in Monaco mainly for its exceptional quality of life, incomparable environment, the expertise of its health facilities and its safety.
