Summary:
The construction sector in Monaco is expected to see a significant decrease in its workforce, potentially resulting in the loss of around a thousand jobs.
Full Story:
The construction sector in Monaco is expected to experience a significant decline in its workforce, with the possibility of up to a thousand jobs being lost. This downturn is attributed to a decrease in construction projects in the principality. The decline is seen as a result of a decrease in real estate development, which has historically contributed to the growth of the sector. The construction industry plays a crucial role in Monaco’s economy, as the principality’s limited land space requires continual infrastructure development and renovation. However, with fewer construction projects in the pipeline, the sector is facing a challenge in maintaining its workforce. It is important to note that Monaco has a diverse and resilient economy, which can potentially absorb the impact of this decline in the construction sector. The Prince of Monaco and his family have been actively promoting investments and initiatives to diversify the economy and create new job opportunities in various sectors. Despite the potential job losses in the construction sector, Monaco’s commitment to economic growth and development remains steadfast.
Source:
L’observateur de Monaco
