The City

Monaco's Tourism Sector Reflects on Summer 2023 and Looks Ahead

September 25, 2023
Monaco's Tourism Sector Reflects on Summer 2023 and Looks Ahead

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As summer draws to a close, Monaco's Tourism and Convention Authority, under the leadership of Director Guy Antognelli, has taken a moment to reflect on the season's performance.

The summer of 2023 has been promising, with hotel occupancy rates reaching 75% in July and 72% in August. However, these figures are still slightly behind those of 2019. "Monaco continues to attract a discerning clientele," Antognelli proudly states.

He emphasizes the principality's commitment to excellence, noting, "Monaco stands out as a unique destination. Its size, history, cohesive offerings, and the unparalleled excellence found in its boutiques, restaurants, and hotels make it incomparable. Our goal is to ensure every visitor experiences this quality and excellence, regardless of their spending. This is the standard that all our private partners strive to uphold in Monaco."

When asked about the origin of tourists visiting Monaco, Antognelli shared, "The top three countries for the summer, consistent with the entire year, are France, the United States, and the United Kingdom, with Italy coming in fourth. Compared to 2019, we've seen growth in visitors from outside Europe, particularly a significant increase from the Middle East."

However, the Asian market is showing a slower recovery. "Tourism from Japan has resumed this year, while Chinese visitors are at about 40% of their 2019 numbers. It's still a bit challenging. However, we've seen an increase in Australian tourists compared to 2019. These markets hold great potential for Monaco, and we expect to see a more significant presence in 2024," Antognelli predicts.

With the summer season behind them, the Tourism and Convention Authority is now focusing on the upcoming autumn season, which is a crucial period for business tourism. Events like the Monaco Yacht Show, Assises de la Sécurité, Luxe Pack, and Sportel are all on the horizon. "These major events are fully booked, with some expecting even more participants than in previous years. We're already receiving inquiries for 2024, 2025, and 2026. This demonstrates that Monaco remains a top choice for conferences and corporate seminars," Antognelli concludes.

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