Monaco’s private sector is more attractive than ever!

Monaco's private sector is more attractive than ever!
Monaco's private sector is more attractive than ever!

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.