• Economics

Digital: a very broad statistical definition for declining turnover

3 August 2020 - 15h02

A sector with very diverse activities ranging from advertising/communication to the manufacture of scientific instruments, the digital sector experienced a 10% drop in turnover last year.

For the first time, on the occasion of Monaco in figures 2020, IMSEE has dedicated a specific section to digital. A sector with a very broad definition according to the chosen scope, that of INSEE, and that you have to know if you want to understand its evolution. Overall, it generates approximately 1.5% of the Principality’s total turnover excluding financial and insurance activities and represents a little over 1% of employers. What does it group together? First, the famous ICT, information and communication technologies which include the production, sale and services associated with these technologies; second component, advertising/communication with design and photographic activities. A third item is made up of content and media such as cinema, video and television productions as well as content programming and distribution. Finally, other digital technologies such as the manufacture of scientific instruments with two companies appear in this sector. It should be noted, as IMSEE specifies, that neither retail nor repair business nor companies that use digital technology such as online shopping are included.

Contrasting figures

ICTs generated the bulk of digital turnover in 2019 with 471 million (out of a total of 770 million), up slightly over the previous year (+ 2.1%). ICT employs over 1,200 people. In contrast, content and media that had already fallen the previous year saw their figure drop by 31% in 2019, a decrease of almost half in two years. Advertising/communication is also 3.1% down, but this after strong growth in 2018. Under these conditions, the turnover of this business group contracted by almost 10% last year mainly due to the drop in content and media.

Noël METTEY

© IMSEE

Read also...

  • Economics
  • Society

A 20% premium granted for renovation work to over 65s

1 October 2020 - 07h29

As part of the economic recovery, the Government has decided to offer a premium to individuals for renovation work. It is intended for tenants or owners over the age of…

Read more
  • Art & Culture
  • Economics

HVMC: some hotly fought pieces

29 September 2020 - 14h48

At the end of last week, the Monte-Carlo Auction House offered nearly 600 lots to lovers of works of art, furniture, but also drawings and old paintings. Friday 25th was…

Read more