Monaco Economic Board Plans Expansion in Japan Amid Decline of French Community
In a bid to strengthen economic ties, the Monaco Economic Board will participate in the Osaka World Expo, while the French population in Monaco faces significant decline.
The Monaco Economic Board (MEB) held its annual general meeting on March 19, 2025, reflecting on its activities from the previous year.
President Michel Dotta characterized Monaco as a "refuge destination for individuals and businesses pursuing prosperity, creativity, and serenity." In 2024, the MEB organized 53 events, including a major delegation to Saudi Arabia in January 2024. Looking ahead, plans are underway for a business mission to Japan from June 26 to July 3, 2025, coinciding with the Osaka World Expo, which will run from April 13 to October 13, 2025.
During this initiative, twenty-eight member companies will travel to Japan to explore commercial opportunities and establish partnerships with Japanese firms.
Scheduled visits include stops in Tokyo and Kyoto.
In addition, the MEB plans to hold a series of conferences in Monaco addressing topics such as macroeconomic forecasts, philanthropy, and export strategies.
A comprehensive schedule of activities is available on the MEB’s website.
During the general meeting, the MEB also noted a record membership growth, with a total of 638 members reported by the end of 2024.
In contrast, the French community in Monaco continues to decline, as indicated by a population census conducted in 2023 by the Monaco Statistics Institute (IMSEE).
The census revealed that the number of French nationals residing in Monaco has fallen significantly from 13,770 in 1975 to 8,473 today.
This population decline means that, for the first time, Monégasque nationals now represent the largest demographic group in the Principality, totaling 9,179.
Italian residents make up the third largest community, numbering 7,515.
This shift is concerning for representatives of the French community, who have expressed alarm over the ongoing decrease.
Christophe Pisciotta, president of the Union of French Citizens Abroad, and Géraldine Motillon, president of the Children of the Country Association, have publicly raised concerns regarding the dwindling numbers of French residents.
Motillon noted that the percentage of French citizens in Monaco plummeted from 60% in 1962 to 22.1% in 2023. She urged the Monégasque government to acknowledge the realities facing French residents, particularly regarding housing shortages that force many to leave.
Several factors contribute to the decrease in the French community.
The tax environment remains a significant issue, as French nationals are subject to the same tax obligations as if they resided in France.
Although a legal resolution in 2014 exempted some long-term French residents from income tax, housing affordability continues to drive many out.
The steep rise in property prices over the past three decades has made housing increasingly inaccessible, compounded by escalating rents and reduced availability in the protected housing sector.
Many French residents, primarily those born in Monaco, have relocated to neighboring regions, and rising living costs are evident as well, with pensioners struggling to maintain their residency.
In light of these factors, potential incentives for French citizens to relocate to Monaco appear diminished.
With exorbitant rental prices and a limited job market, many are opting for other European countries.
In comparison, surrounding nations have seen an increase in the French expatriate population, notably in Switzerland, Belgium, and the United Kingdom.
The French community remains a substantial part of Monaco’s workforce; however, the overall demographic trend continues to raise questions about the community's future.
President Michel Dotta characterized Monaco as a "refuge destination for individuals and businesses pursuing prosperity, creativity, and serenity." In 2024, the MEB organized 53 events, including a major delegation to Saudi Arabia in January 2024. Looking ahead, plans are underway for a business mission to Japan from June 26 to July 3, 2025, coinciding with the Osaka World Expo, which will run from April 13 to October 13, 2025.
During this initiative, twenty-eight member companies will travel to Japan to explore commercial opportunities and establish partnerships with Japanese firms.
Scheduled visits include stops in Tokyo and Kyoto.
In addition, the MEB plans to hold a series of conferences in Monaco addressing topics such as macroeconomic forecasts, philanthropy, and export strategies.
A comprehensive schedule of activities is available on the MEB’s website.
During the general meeting, the MEB also noted a record membership growth, with a total of 638 members reported by the end of 2024.
In contrast, the French community in Monaco continues to decline, as indicated by a population census conducted in 2023 by the Monaco Statistics Institute (IMSEE).
The census revealed that the number of French nationals residing in Monaco has fallen significantly from 13,770 in 1975 to 8,473 today.
This population decline means that, for the first time, Monégasque nationals now represent the largest demographic group in the Principality, totaling 9,179.
Italian residents make up the third largest community, numbering 7,515.
This shift is concerning for representatives of the French community, who have expressed alarm over the ongoing decrease.
Christophe Pisciotta, president of the Union of French Citizens Abroad, and Géraldine Motillon, president of the Children of the Country Association, have publicly raised concerns regarding the dwindling numbers of French residents.
Motillon noted that the percentage of French citizens in Monaco plummeted from 60% in 1962 to 22.1% in 2023. She urged the Monégasque government to acknowledge the realities facing French residents, particularly regarding housing shortages that force many to leave.
Several factors contribute to the decrease in the French community.
The tax environment remains a significant issue, as French nationals are subject to the same tax obligations as if they resided in France.
Although a legal resolution in 2014 exempted some long-term French residents from income tax, housing affordability continues to drive many out.
The steep rise in property prices over the past three decades has made housing increasingly inaccessible, compounded by escalating rents and reduced availability in the protected housing sector.
Many French residents, primarily those born in Monaco, have relocated to neighboring regions, and rising living costs are evident as well, with pensioners struggling to maintain their residency.
In light of these factors, potential incentives for French citizens to relocate to Monaco appear diminished.
With exorbitant rental prices and a limited job market, many are opting for other European countries.
In comparison, surrounding nations have seen an increase in the French expatriate population, notably in Switzerland, Belgium, and the United Kingdom.
The French community remains a substantial part of Monaco’s workforce; however, the overall demographic trend continues to raise questions about the community's future.
