In 2023, Monaco's digital sector exhibited impressive growth, with an increase in the number of digital companies by 4.4% from the previous year. This rise pushed the total to over 1,000 companies, hitting a milestone with 1,031 entities now operating within this vibrant industry. Over the past decade, the sector has experienced a substantial growth of 73%, underscoring Monaco's commitment to establishing itself as a leader in digital innovation.
The digital industry in Monaco is now responsible for generating a massive turnover of 947 billion euros across its three primary domains: advertising and communication, information and communication technologies (ICT), and content and media. Advertising and communication hold the largest share, representing 49.4% of the digital enterprises. This is followed by ICT with 38.8% and content and media accounting for 11.6%.
ICT has proven to be particularly lucrative, accounting for 63.1% of the total sector turnover and employing the majority of the industry's workforce. However, a significant challenge remains in achieving gender balance within the sector. Currently, the workforce is predominantly male, with men making up 75% of employees, particularly noted in the ICT sub-sector where women represent less than 25%.
Monaco's digital sector's growth highlights the principality's successful drive towards technological advancement, yet it also calls attention to the ongoing need for greater gender inclusivity within this rapidly evolving industry.