The IMSEE (Monegasque Institute of Statistics and Economic Studies) has just published a focus on private sector employees working in the Principality. This year, 2018, confirms the excellent health of the sector: there are now 51,601 employees in Monaco, an increase of 3.8% compared to 2017. Nearly 75% of people are cross-border workers.

The Principality, home of private sector employees? It’s a reality! In Monaco, the sector is doing well, and most can be thankful for it. As with the past five years, it continues to grow (2% on average). According to the IMSEE, the Institute of statistics of reference, it grew even more in 2018 (+ 3.8%). This represents 51,601 employees. This predominantly male population (60%) benefits from the Principality’s attractiveness in the scientific/technical sectors, hotels/restaurants, and personal services.

More and more commuters

In 2018, 78.9% of private sector employees live in France. A quarter of them lives in one of the bordering communes (La Turbie, Cap d’Ail, Roquebrune-Cap Martin or Beausoleil). While Monegasques account for 12.8% of the private salaried population, the majority of employees are commuters. That is to say, people traveling multiple dozens of kilometers per day to reach work. The proof: 53.4% ​​of employees live in the Alpes-Maritimes region, excluding neighboring municipalities.

The study proves that French people are taking advantage of the dynamism of Monaco to develop professionally. A trend that is more sustainable than ever!

*Article originally published on the French edition of the Monaco Tribune.