Monaco's Digital Sector Demonstrates Robust Growth

April 23, 2024
Monaco's Digital Sector Demonstrates Robust Growth


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.

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