THE ENVIRONMENT in Monaco 2021 30 The year 2021 will have been the year of economic recovery in the Principality, after a year largely impacted by the health crisis. This recovery has been supportedby the significant support measures and the stimulus plan of the Prince's Government. It affects most sectors, but should be put into perspective in comparison with the performance of 2019, a pre-pandemic year. RECORD FIGURES For the first time, Monegasque turnover, excluding financial and insurance activities, exceeded €16 billion. It is 13.3% higher than in 2020, and 6.9% higher than in 2019. This increase is particularlymarked in thewholesale and retail trade sectors. In the hotel and restaurant sector, growth is strong compared to 2020 at +36%, but remains below2019 levels. In property, the average price per square metre has risen by almost 75% over 10 years andhas exceeded50,000euros for the first time, although this sector is the only one to have seen a decline in turnover, with a fall of 32.5% over one year. The development of assets under management by banks is also very positive over the 12 months, at €148.2bn, an increase of 14.8%. In terms of employment, the Principality has shown a clear progression, with the private sector totalling nearly 57,000 active jobs, a level higher than before the crisis. The number of private sector employers stands at 6,308, up 3%over a year. The government's Total Temporary Layoff (CTTR - Chômage Total TemporaireRenforcé) has helped tomaintainwages and links within companies. Some companies, including CFM Indosuez, have chosen to contribute to the national effort by taking on this CTTR measure themselves. THE ENVIRONMENT AT THE HEART OF DEVELOPMENT The Government is actively working to maintain the quality of life in the City-State by initiating a proactive policy in favour of sustainable development. With 39,150 inhabitants and 57,000 employees in a small area of 2km², the Principality is facedwith the environmental problems faced by all major cities in a very concentrated and exacerbated way. The promotion of public transport and electric transport has been further strengthened in 2021. The acquisitionof clean vehicles is encouraged for private individuals as well as for companies and is systematic for administrative services. Selective sorting of waste is promoted, and water management is treated as a key element of the sustainable city. Monaco devotes 20%of its surface area to public and private green spaces. They are managed in an eco-responsible manner, taking care topreservewater resources, limitingchemical treatments and developing biological control. MONACO, A SMART CITY At the end of 2021, the Principality made an initial assessment of three years of developing quality digital infrastructures, for the benefit of the quality of life of its residents, employees and the attractiveness of its economy. In order to aim for digital excellence and increase its international influence, the Principality of Monaco has laid the foundations over the last few years to guarantee an economic influence well beyond its borders: 5G, 10 Gigabit fibre, a digital identity and the State Sovereign Cloud, the first in this field in Europe. Another aspect of the systemput in place is theBlue Fund launched at the end of 2020, as part of the Principality's economic recovery plan, which has made it possible to support more than 350 digital transformation projects, accompanied in 9 cases out of 10 by local digital service companies. The government's ambition is to make Monaco a benchmark City-State in the digital world. To find out more about the economic data of Monaco: visit the website of the Institut Monégasque de laStatistique et des Etudes Economiques (IMSEE), imsee.mc. For more information on government action, visit gouv.mc. Céline Lapaian Corporate Secretary
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