At the Monaco Business Fair, Ms Ludmilla Raconnat-Le Goff, Delegate in charge of Attractiveness to the Minister of State and Secretary General of the Strategic Council for Attractiveness, outlined the Principality’s strategic vision. Just ten days after her appointment, she reiterated the foundations of the Monegasque model, its distinctive strengths and the collective momentum needed to enhance Monaco’s international influence.
Attractiveness is not just one public policy among many. It is the very condition of our prosperity. Due to its size, our country is not suited to mass production. Its strength lies in its ability to attract residents, talent and high value-added businesses, which directly fuel our economy and society. The figures speak for themselves: €10 billion in turnover, €174 billion in assets under management, more than 66,000 private sector jobs, a record year in real estate and a rapidly growing tourism sector.
We are operating in an international context marked by multiple and successive crises: increased geopolitical tensions, economic volatility, stricter international compliance requirements, the digital revolution with the rise of artificial intelligence, not to mention the ecological and energy transition. Our responsibility is to maintain a delicate balance: to be exemplary in terms of rigour and transparency, while remaining agile and competitive, which means constantly adapting our regulatory frameworks.
The Principality has solid and unique fundamentals: unparalleled political and institutional stability, no public debt, a reserve fund that secures our finances, a simple and transparent tax system, and a compact and agile economic ecosystem where decision-makers are easily accessible. Added to this are an exceptional living environment, high-quality education and healthcare, and a cultural richness that attracts families and entrepreneurs alike.
These places are undeniably successful, but their model does not correspond to our size or identity. Whereas some offer standardised and extremely fast-track programmes, Monaco fully embraces its position as a premium hub, guaranteeing an unrivalled experience. Our ambition is not to copy, but to assert a distinctive model based on excellence, quality and trust, where high standards go hand in hand with personalised support.
My role is to ensure the strategic consistency of this policy and to convey Monaco’s institutional message, both internally and externally. Attractiveness is a team effort: it relies on the joint mobilisation of the government, public and private partners, and, of course, businesses. My priority will be to meet with economic players, listen to their successes and difficulties, and transform this feedback into concrete proposals, whether in terms of administrative simplification, improving the reception of talent or increasing international visibility.
Our objective is clear: to strengthen Monaco’s role as an economic centre of excellence that is resilient, innovative and sustainable, while consolidating its international influence. I will devote all my energy to this and I know I can count on the mobilisation of all our partners to make this ambition a collective success.
