Employment up 2.5 % in the private sector in 2013 compared with 2012. Despite the narrowness of the territory and the high property prices, many managers of international companies unhesitatingly choose Monaco. Why is that?
For traditional reasons, of course: safety, the dynamism and variety of its cultural life, its mild climate and high level of cleanliness. But also its accessibility (a few minutes away from France’s 2nd largest airport, easy access to motorways, the heliport and the station) and the quality of education for children, who in many cases are multilingual. And mention is often made of the quality of healthcare facilities and personnel (Monaco has many associate professors and clinic directors) and the haute cuisine. Indeed, over 200 restaurants are now listed in Monaco; gourmet restaurants, typical restaurants - there is a lot of choice, with very competitively-priced ‘business’ menus. H.E. Mr. Henri Fissore, Ambassador on mission to the Minister of State, responsible for the attractiveness of Monaco among other matters, confirms this, "Haute cuisine is pleasure, but in Monaco - considering the high quality of very many chefs and restaurants - it is also a great image, as well as an example of excellence which contributes to the country’s attractiveness".
The quality of the financial centre is also a real factor of attractiveness: 34 banks and 50 asset management companies, with total assets managed in excess of 100 billion euro. Over 3500 employees in the finance and insurance sector. Professionals who have wanted to demonstrate the expertise of the new actors in the centre: texts establishing mandatory professional certification in Monaco were published in 2013. Finance is an important heart and soul for Monaco, representing 16.7% of its GDP.
Monaco is anxious to optimise the resources made available to its residents. The reliability of its budgetary management means it can invest in a large number of sophisticated facilities for the well-being of its inhabitants.
Last, the Principality places a major focus on welcoming company managers. The ‘Monaco Welcome Business Office’ makes available to visitors tools, key contacts and useful information for their procedures. It also puts them in contact with key financial centre entities, both public and private, that can make their move easier. This is a real asset for Monaco.
