Positive Results for the DTC's Convention Bureau in 2016
At the start of 2017, the Convention Bureau of Monaco Tourist and Convention Authority (DTC) has announced very positive results for the past year. Business Tourism is performing well in the Principality.
Monaco organises international conferences, seminars, trade fairs, galas and private events and always offers high quality for professionals, especially in Information and Communications Technology; Pharmaceutical Laboratories and the Medical Sector; and Banking, Finance and Insurance.
These three sectors represent 54% of M.I.C.E. business activity (meetings, incentives, conferencing and exhibitions) in 2016, i.e. an increase of 4 points of market share and of +12.6% with regard to the number of overnight stays.
These results therefore affirm Monaco's development strategy, which has been focusing on these sectors since 2013.
In 2016, business tourism activity recorded an increase of +2.70% in comparison with 2015, i.e. almost 3,500 more overnight stays.
The market share also increased by 1.5 points, from 23.5% to 25%. There were notably good results over the winter period, particularly in the month of February, during which the market share reached a record level of 37.5%.
The 60th September Insurers' Meeting ("Rendez Vous de Septembre") deserves a special mention. This event broke all attendance records and shows unparalleled longevity.
In 2016, 27 repeat events were noted, half of which were attended by more than 1,000 participants. Loyal clients now account for 41% of the total overnight stays generated by business tourism and these figures are expected to continue to rise in 2017.
In an uncertain global context, the Monegasque business tourism market has proved particularly resilient. Monaco continues to make its mark with its clients and the leading players in the sector, thanks to its strengths, dynamism and ability to adapt to constant market changes.
The year 2016 was marked by new congresses during the winter, in sectors that are well represented in the Principality (such as ROOMn, a business meeting on digital mobility and the Chefs' World Summit).
The success of these new events, initiated by organisers who are loyal to the Principality (Comexposium and Informa), is a good indication of the renewed confidence of these two groups, which are among the global leaders in events organisation.