With over 6,600 employees and 8,000 temporary workers, the construction sector in Monaco stands as the Principality's third-largest employer in 2023.
A cornerstone of Monaco's economy, the construction sector's robust health has been confirmed by a recent study from IMSEE. In 2023, the sector's revenue exceeded €2.8 billion, marking an increase of more than €300 million from 2022. According to the statistical institute, this figure has "more than doubled in the past 10 years." Another sign of the sector's vitality is the steady rise in the number of employees. The construction industry, which demands significant labor to fulfill its orders, remains the third-largest employer in Monaco, with a total of 6,645 employees in 2023 (excluding temporary workers). An additional 512 employees were hired last year. Unsurprisingly, construction remains a predominantly male industry, with 6,115 men and 530 women.
The workforce is also notably diverse: French nationals make up just under half of the workforce (49.4%), followed by Italians and Portuguese, each representing around 18.5%. Monégasques are a minority in the sector, with only about twenty employees. Additionally, very few construction workers live in Monaco, with less than 4% residing within the Principality. A significant majority, 80.7%, live in France, with 61.9% residing in the Alpes-Maritimes (excluding neighboring municipalities) and 17.7% in neighboring municipalities. "The construction sector also has the highest proportion of employees living in Italy, at 15.5%," adds the statistical institute.
Lastly, construction is the sector in Monaco that relies most heavily on temporary work. Approximately 8,000 temporary workers were employed in the sector between January and December 2023.