Hopes of recovery for Monaco, according to Ms. Barrabino, will come by the second quarter of 2021. The rebound on travel will start from the local markets of the Principality, namely France and Italy, since most European and international borders are not opened as yet with travel requirements remaining strict.
All sectors in the Principality have resumed their activities, while restaurants, hotels, conference centres and MICE agencies were very much affected by the travel bans. However, the real estate sector in Monaco has seen an increase in activity despite the pandemic.
Head of the Monaco Convention Bureau further explained that currently all partners of the bureau, from conference centres and hotels, to destination management companies, are rethinking their business model to incorporate security assurances expected by clients and organisers. The Monegasque Government has implemented, since last July; the Monaco Safe certification for hotels, restaurants, conference centres and all other premises opened to the public in the Principality.
The shift now, stated Ms. Barrabino, is to meet the needs of customers through the quality of value exchanged. It will require, she mentioned, inventiveness, innovation, and a focus on intellectual assets, flexibility and the optimising of transport and spaces with regard to corporate social responsibility policies. This shift in thinking is also crucial she added, for the success of the global events industry.
Last December, the Monaco Convention Bureau launched its new communication campaign with the slogan #Reevent at the IBTM World’s first virtual event. It invites MICE professionals to return to the Principality and organise events. The campaign displays six visuals related to the themes of: safety, value, service, green, medical and connectivity
Monaco is expected to welcome large events again from April 2021, and the Principality’s MICE agenda is packed in the autumn, due to the postponements of events initially scheduled for 2020.
Ms. Barrabino figures that 2022 should bring back mainly European clients and a return to normal by 2023, when intercontinental flights would have regained a decent level of activity.
Image of the view of Monaco is by VisitMonaco.
Image of Christine Barrabino and Sarah Rico © Government Press Office – Manuel Vitali