2021, year of economic recovery says IMSEE
MEB / Carte Blanche - Alexandre Bubbio, IMSEE Director
Gradually, the impact of the health crisis is easing and the situation is returning to normal, despite some concerns over 2022.
The grail has arrived. Eagerly awaited by a large section of the economic world, Monaco Statistics (IMSEE) has just presented the figures for the year 2021 in its 2022 edition of Monaco in Figures. From the economy to employment to population and the environment, the Institute collected a great deal of data and presented it to the Monaco Economic Board on Tuesday, 28 June.
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The trend is positive in 2021. According to Monaco Statistics, the year saw a turnaround in the economy after a gloomy 2020. The Principality’s budget is back in the black with a surplus of eight million euros, and most sectors of activity are close to, or are back at, 2019 levels. Retail trade even surpassed its 2019 results. On the other hand, hotels and restaurants, while better than in 2020, are still struggling compared to 2019.
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Healthy real estate and employment
Despite the various waves of Covid that have swept through the Principality, the number of employees has increased compared to 2019. More than 58,000 employees currently work in the Principality.
Real estate is not to be outdone. With an increase of 74.3% over the period 2012-2021, the average price per m² has now reached €52,000.
Monaco in Figures 2022 can be downloaded free of charge, and is also available in printed format for €12, from the IMSEE head office.