The Monaco tourism sector has reported a positive trend for 2024, with the latest figures indicating a 3% increase in hotel occupancy rates compared to the previous year.

This growth reflects a broader recovery in the travel industry as the region continues to attract international visitors following the disruptions caused by the COVID-19 pandemic.

Guy Antognelli, the Director of Tourism and Conventions, highlighted the importance of maintaining momentum in key long-haul markets, particularly the United States and the Middle East, which have proven to be the most lucrative for the destination.

Efforts are also being made to enhance European visitor numbers during off-peak periods.

In addition to rising occupancy, the average price per night for hotel accommodations has seen a 5% increase compared to 2023, indicating a robust demand for luxury accommodations that Monaco is known for.

During the presentation, Pierre-André Chiappori, Government Counselor and Minister for Finance and Economy, received the "European Best Destinations" award, officially recognizing Monaco as the "best destination" in Europe for 2025. This accolade further enhances Monaco's reputation as a premier travel destination.

In related news, the upcoming Big Art Festival will showcase a high-profile gala event featuring performances by the Black Eyed Peas and Craig David on May 23, 2025. This event coincides with the renowned Monaco Grand Prix, cementing its status as a premier occasion within the luxury and entertainment sectors.

The concert will take place at the Sporting Monte-Carlo, with tickets priced from €1,200 to €5,000 per person.

This prestigious gala aims to blend haute cuisine with world-class entertainment, attracting global celebrities and influential figures.

The Big Art Festival, established in 2021, continues to elevate the standard for luxury events worldwide.