A central component of the Principality’s appeal and the liveliness of its districts
Retail is an important factor in the economic development of the Principality and its international reputation. It occupies a central role in the country’s economy and, alongside leisure and business tourism, contributes to the development of the Principality’s appeal and to the liveliness of its districts.
The sector benefits from the many advantages offered by Monaco, through the presence in the country of more than 140 nationalities which generate talent, the security found here, and the ability of the Principality to attract an international workforce and a multicultural resident population.
Monaco is undeniably an international capital of high-end luxury, home to the biggest names in fashion, particularly in the famous Carré d’Or where many elegant and luxury boutiques offering prestigious brands have been established. The shops located in other districts, Monte-Carlo, Fontvieille or Condamine, complement the quality to be found at the Carré d’Or, and meet the expectations of a highly sought-after clientele including visitors, residents and commuters.
Retailers in Monaco are striving to adapt to the new ways in which their various customers shop, and all play a major role in the quality of the welcome which is assured in the Principality.
To support the businesses operating in this sector in their dynamic approach, the Prince’s Government is developing an administration which can reach out to them, be available and listen to their needs. The Welcome Office, designed to be a privileged partner for retailers, is establishing tailored dialogues with them and leads the Trade Observatory, set up by the Prince’s Government to maximise the appeal of the Principality’s commercial offering.