The year 2024 also marks an important milestone in the fight against money laundering and the financing of terrorism. The Principality's efforts have resulted in the passing of numerous laws and the strengthening of rules of professional conduct, demonstrating strong commitment and determination. The Monaco Government is committed to exiting the FATF "grey" list according to the timetable agreed in Singapore, which runs until January 2026. While Monaco's fundamentals remain solid, competition on the world stage is intensifying. Monaco continues to adapt and innovate in order to maintain its leading international appeal. This is reflected not only in economic activity but also in tourism. The Principality has been named Best European Destination 2025 by European Best Destinations, a leading tourism promotion body and partner of the European Commission. The year 2025 will also be an opportunity for the Principality to demonstrate its commitment to sustainable growth and the preservation of the oceans, through the Blue Economy and Finance Forum which it is organising in early June, in the presence of the Sovereign and the French President. This high-level international event will take place on 7 and 8 June, with the support of CFM Indosuez and the Crédit Agricole Group, ahead of the United Nations Conference on the Oceans to be held in Nice from 9 to 13 June 2025. Sources: IMSEE, Government of Monaco In 2024, the Principality of Monaco continued to demonstrate its resilience in the face of an international context marked by economic and geopolitical uncertainties. This year, Monaco's economy has once again consolidated its status as a dynamic and prosperous hub at the heart of Europe. As a result, the total volume of foreign trade outside France broke the €4 billion barrier for the first time. With 51.9% of transactions, trade with the European Union remains dominant, even if its share is down slightly by 1.8%. Taking all countries together, the United Kingdom is the Principality's second largest trading partner. For its part, the Principality's revenue rose by 1.2% compared with the previous financial year, reaching nearly €21 billion. This growth is underpinned by seven major sectors of activity, including financial and insurance activities, hotels and restaurants, construction, scientific and technical activities, administrative and support services, the latter being driven in particular by the activities of temporary employment agencies. The number of jobs in the private sector rose by 5.5% year-on-year to 65,599. The financial sector is experiencing sustained growth, with an 11.4% increase in the net assets of Monegasque investment funds and an 8.5% rise in the assets under management of banks to over €171 billion, testifying to the confidence of investors in the Principality. On the property market, new-build sales reached a record level in 2024, with 101 transactions worth €3.7 billion, while resales fell slightly in volume but remained relatively stable at €2.2 billion, The Monegasque environment Sophie Armando Finance & Strategy Director Céline Lapaïan Company Secretary CFM Indosuez Wealth Management 30
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