Monaco’s tourism numbers have seen exciting changes in recent years, with notable growth in visitor arrivals and economic contributions. The latest statistics highlight trends like a 17.6% increase in arrivals for 2023, shorter stays, and a rising demand for luxury experiences.
From seasonal peaks during the Grand Prix to evolving travel preferences, these insights show how tourism continues to shape Monaco’s vibrant appeal.
General Tourism Statistics
In 2023, Monaco experienced a significant boost in its tourism sector, recording a total of 340,000 arrivals, which represents an impressive 17.6% increase compared to the previous year. This growth indicates a strong recovery and renewed interest in the destination following the challenges posed by the pandemic (Monaco Life).
However, despite this surge in arrivals, the average length of stay for visitors saw a decline, dropping from 2.9 days in 2022 to 2.5 days in 2023. This change suggests that while more tourists are visiting Monaco, they are spending less time in the principality during each visit (Monaco Life).
The hotel occupancy rate also reflected positive trends, reaching 58.4% in the fourth quarter of 2023. Although this figure marks an improvement from earlier years, it still falls short of pre-pandemic levels, which were around 65.9% (Monaco Life).
Moreover, the average hotel price increased notably to €474 per night in 2023, marking a rise of 3.5% from the previous year. This uptick in prices highlights the growing demand for accommodation and reflects Monaco’s status as a luxury destination (Monaco Life).
The economic impact of tourism was substantial, with the accommodation and food service sector contributing nearly €999 million to Monaco’s economy in 2023. This figure underscores the importance of tourism as a vital component of the local economy and its role in supporting various industries within the principality (Monaco Life).
Looking ahead to early 2024, total arrivals in Q1 2024 reached 65,244, representing a 3.9% increase from Q1 2023. This continued growth trend is encouraging as it suggests that Monaco remains an attractive destination for tourists (Monaco Statistics).
The occupancy rate for hotels in Q1 2024 increased to 45.8%, up from 44.1% during the same period in 2023, indicating a gradual recovery in hotel bookings as more travelers return to Monaco (Monaco Statistics).
Additionally, the number of rooms occupied during this quarter totaled 102,571 nights, marking a notable 5.2% increase compared to the previous year. This increase reflects heightened interest and activity within the hospitality sector as tourism continues to rebound post-pandemic (Monaco Statistics).
Lastly, the average length of stay for visitors remained stable at 2.3 days, consistent with Q1 2023 figures, suggesting that while more tourists are visiting, their average duration remains unchanged for now (Monaco Statistics).
Demographics and Visitor Origins
Monaco’s tourism landscape is characterized by a diverse array of visitors, with France leading as the top nationality among tourists, followed by the USA, Italy, and the UK. This trend highlights Monaco’s appeal to both neighboring countries and international travelers seeking luxury experiences (Monaco Life).
In 2023, the number of cruise passengers rose significantly by 31.5% compared to the previous year, indicating a strong recovery in this segment of tourism as cruise operations resumed (Monaco Life).
Looking ahead to early 2024, visitors from outside the European Union made up approximately 30% of total arrivals, reflecting a growing trend in international tourism post-COVID (Monaco Statistics).
As cruise operations typically restart in April, cruise passengers in Q2 2024 are expected to contribute significantly to visitor numbers, further enhancing Monaco’s status as a premier Mediterranean destination (Monaco Statistics).
Seasonal Trends
Monaco’s peak tourist seasons occur in late spring and early summer (May to June), which are considered the best times to visit due to favorable weather and major events like the Monaco Grand Prix. This prestigious race attracts motorsport fans from around the world, significantly boosting visitor numbers during this vibrant period (Wanderers Compass).
In contrast, the off-peak months from November to February are less popular due to cooler weather. However, these months provide a quieter experience for travelers who prefer to explore Monaco without the crowds, allowing for a more relaxed visit (Wanderers Compass).
Additionally, major events such as the Monaco Grand Prix and the Monaco Yacht Show play a crucial role in attracting tourists during both spring and fall. These events enhance Monaco’s reputation as a luxury destination and draw visitors eager to experience its unique offerings (Wanderers Compass).
Accommodation Statistics
- Rooms Occupied (Q1 2024): Exceeded 100,000 nights for the first time since the pandemic began. (Monaco Statistics)
- Average Room Occupancy (Q1 2024): Increased by 1.8 percentage points to 45.8%. (Monaco Statistics)
- Total Hotels in Monaco (January 2024): There are a total of 57 hotels with a combined capacity of 2,042 rooms.(Insee)
- Distribution of Hotel Rooms:
- 5-Star Hotels: 127 rooms
- 4-Star Hotels: 498 rooms
- 3-Star Hotels: 867 rooms
- 2-Star Hotels: 196 rooms
- Non-ranked Hotels: 354 rooms (Insee)
Also read: 110 Key Business Travel Statistics For 2025
Economic Impact
- Tourism’s Contribution to GDP: Tourism significantly impacts Monaco’s economy, with a focus on luxury services and experiences that attract high-spending visitors. (Magrey & Sons)
- Spending Per Visitor: High spending per visitor due to luxury offerings such as dining and entertainment options available in Monaco.(Magrey & Sons)
- Casino Industry Value (2024): Valued at USD 5,041.5 million, with expectations to grow at an annual rate of 8.2%. (Future Market Insights)
Transportation Statistics
- Helicopter Traffic Increase (Q1 2024): Helicopter movements rose by 12.1%, with passenger numbers increasing by 30.7%. (Monaco Statistics)
- Public Parking Visits (Q1 2024): Increased by 3.8%, indicating higher local tourism activity.(Monaco Statistics)
Attractions and Activities
- Popular Attractions: Key attractions include the Prince’s Palace, Oceanographic Museum, Casino de Monte Carlo, Jardin Exotique, and Monaco Cathedral.(Wanderers Compass)
- Culinary Scene: Monaco boasts numerous Michelin-starred restaurants that attract food enthusiasts from around the world.(Magrey & Sons)
Additional Insights
- Tourist Spending Patterns: High spending per visitor is attributed to luxury offerings such as exclusive events and high-end shopping experiences.(Magrey & Sons)
- Rise of Eco-Tourism: Growing interest in sustainable travel options among tourists is prompting Monaco to enhance its eco-friendly initiatives.(Future Market Insights)
Also read: Hong Kong Tourism Statistics: Insights and Trends
Future Projections
- Tourism Growth Forecasts: Continued efforts are being made to revitalize tourism markets and attract more visitors from diverse regions.(Monaco Life)
- Marketing Campaigns: The ‘Like Nowhere Else’ campaign aims to enhance Monaco’s visibility as a premier travel destination.(Monaco Life)
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Ron Hoekstra is the founder of The LibertyOnDemand. He is a graphic designer, self-taught entrepreneur, writer, and Illustrator. He will give you professional insights and tips in the world of travel,
