Beyond its opulence on land, Monaco also shines on the azure waves of the Mediterranean, affirming its reputation as a maritime paradise. A favorite among water sports enthusiasts, the Principality is home to hundreds of superyachts sailing its sparkling waters. Magrey & Sons takes a look at the importance of these dream ships to Monaco, their prestigious marinas and their economic impact.
A breathtaking spectacle
With its year-round mild climate and ideal location on the prestigious French Riviera, Monaco attracts an impressive fleet of superyachts every year. Some of the world's largest and most luxurious yachts take refuge in the Principality's ports. Their sumptuous silhouettes offer a captivating spectacle, setting the Monegasque landscape against an enchanting backdrop that captivates visitors and residents alike.
Strategically located along the French Riviera, between Spain and Italy, Monaco is home to a remarkable concentration of superyachts in the Western Mediterranean. More than 2,000 of these majestic vessels moor along the Monegasque and French coasts, among the 5,500 yachts over 30 meters in length worldwide.
A growth sector that stimulates the Monegasque economy
Maritime activity in Monaco plays a key role in the Principality's economy, generating significant and positive spin-offs. A study by the Institut Monégasque de la Statistique et des Études Économiques (Monegasque Institute of Statistics and Economic Studies) reveals eloquent data in this regard. Some 411 Monegasque companies, or 3.7% of the total, operate in the yachting sector. This sector also employs 2.4% of the Monegasque workforce, representing over 1,400 jobs. Among them, yacht brokers are the most numerous, managing the sale of these unique vessels that sail through Monegasque ports. In 2022, yacht design activities generated sales of 20 million euros, out of a total of 567.1 million euros for the sector as a whole. Including financial and insurance activities, this contribution represents 3% of Monaco's total sales, underlining the importance of this industry to the Principality's economy.
Luxury marinas and yachting harbors
Monaco is home to several renowned marinas, exceptional places where wealthy owners reside and marvelled admirers contemplate these extraordinary vessels. Port Hercule, the Principality's main port, is one of the most prestigious in the world. Located in the Condamine district, it offers nearly 700 berths on a 16-hectare site, and hosts the famous Monaco Yacht Show every year. The Port of Fontvieille, located in the eponymous district, offers modern facilities and top-of-the-range services. A few kilometers east of Monaco, the Port of Beaulieu-sur-Mer also offers an exceptional setting. The Port of Cap d'Ail, although located on the border with France, attracts many yachtsmen thanks to its ideal location. These marinas offer not only first-class yacht facilities, but also breathtaking views over the Mediterranean.
Embodying the luxury, prestige and exclusivity that characterize Monaco, superyachts attract the world's elite. Their majestic presence in the Principality's marinas testifies to the French Riviera's irresistible appeal to yacht owners and boating enthusiasts alike.