Monaco, the glittering jewel of the Riviera, continues its upward economic trajectory. The latest 2025 “Monaco in Figures” report from IMSEE reveals a Principality not just growing, but strategically evolving. From a surge in employment to a booming real estate sector, these insights offer a powerful glimpse into the forces shaping this unique microstate.
Unpacking the numbers: Growth and stability
The annual report from the Monaco Statistics Institute (IMSEE) is a vital compass for expats and residents, illuminating the driving forces behind the local economy and social landscape. While much points to robust expansion, some fascinating shifts are also apparent.
The job market: Monaco’s unstoppable appeal
One of the most striking transformations over the past two years has been in employment. Monaco’s allure as a business hub is undeniable, particularly within its thriving services and finance sectors. The number of jobs soared to 65,493 in 2025, a significant leap from 62,455 in 2023 – marking an impressive increase of over 3,000 positions. Concurrently, the number of employers saw a modest rise to 6,305, up from 6,234 the previous year, further solidifying the Principality’s appeal for enterprises.
A stable population in a dynamic economy
Amidst this economic dynamism, Monaco’s population remains remarkably stable. In 2025, the resident count held steady at 39,050, virtually unchanged from 2024. French nationals continue to form the largest group (9,286), followed closely by Italians (8,499) and Monegasques (9,606), with British residents also maintaining a consistent presence.
Real estate: Monaco’s ever-hot market
The Principality’s property market continues its impressive ascent, demonstrating sustained interest in its ultra-premium residential offerings. In 2025, Monaco recorded 520 real estate transactions, mirroring the 2024 volume but at a significantly higher combined value of €3.54 billion, a sharp increase from €3.21 billion the year prior. This upward trend is further underscored by the average price per square metre for resale property reaching an astounding €51,418, a notable uptick from the 2024 average of €50,000.
Building for the future: Construction and infrastructure
Reflecting both ambitious renovation projects and new constructions, particularly in areas like Larvotto and Jardin Exotique, building permits saw a slight increase from 28 in 2024 to 30 in 2025. This indicates ongoing development and modernization across the Principality.
Furthermore, transport and mobility infrastructure have seen improvements. Public transport usage is on the rise, with urban buses carrying 7.6 million passengers in 2025, up from 7.2 million in 2024. This signals a growing embrace of sustainable transport options, though the climb in registered vehicles (from 14,338 to 14,730) continues to raise questions about congestion and sustainability.
Tourism & business: A strategic refinement
Despite the shifting landscape of global travel, Monaco’s tourism sector remains resilient. In 2025, the Principality welcomed 369,206 overnight visitors, nearly identical to the previous year. The hotel occupancy rate held firm at 55%, suggesting a plateau in post-pandemic tourism recovery. However, with iconic events like the Formula 1 Grand Prix and Monaco Yacht Show firmly anchoring the calendar, the sector continues to attract high-spending guests, especially to its luxury accommodations.
Beyond tourism, company creation saw a minor rise in 2025, with 780 new businesses established compared to 754 in 2024, indicating a healthy entrepreneurial spirit.
A flourishing society: Education and culture
Monaco’s social fabric remains vibrant. The number of students enrolled in schools across the Principality slightly increased to 5,947, underscoring a commitment to education. Cultural life also continues to thrive, with museum attendance holding steady, offering residents and visitors a rich tapestry of experiences.
What do these figures mean for expats?
For expats living and working in Monaco, these figures are more than just statistics; they are a clear indication of where the Principality is investing, growing, and strategically evolving. While the ascent of real estate values and employment numbers showcases a dynamic economy, the stable population and leveling tourism figures point towards a mature market that is refining itself rather than undergoing radical reinvention.
