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Monaco Casino Tourism Market

Market Insights on Monaco Casino Tourism covering sales outlook, demand forecast & up-to-date key trends

Monaco Casino Tourism Market By Game Type, Casino Type, End Users, Tour Type, Tourist Type, Consumer Orientation, Age Group & Region - Forecast 2022-2032

Monaco Casino Tourism Market Outlook – 2022-2032

[250 Pages Report] As per newly released data by Future Market Insights (FMI), the Monaco Casino Tourism Market is estimated at US$ 4,282 Million in 2022 and is projected to reach US$ 9681.5 Million by 2032, at a CAGR of 8.5% from 2022 to 2032.

Attribute

Details

Monaco Casino Tourism Market Estimated Size (2022)

US$ 4,282 Million

Monaco Casino Tourism Market Projected Size (2032)

US$ 9681.5 Million

Monaco Casino Tourism Market Value-based CAGR (2022-2032)

8.5%

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2017-2021 Monaco Casino Tourism Market Outlook Compared to 2022-2032 Forecast

One of the oldest and most renowned casinos in all of Europe is located in the city-state of Monaco. The storied Casino De Monte Carlo, which opened its doors in 1856, is housed in a magnificent Belle Époque palace right on the Place-du-Casino in Monte-Carlo. The casino served as the backdrop for the gaming scenes in the James Bond movies Never Say Never Again and Golden Eye because of its stunning surroundings.

Many people are unaware that the Monte-Carlo Casino was moved and remodeled multiple times before settling into its current position, despite having a well-deserved reputation as one of the world's most prestigious luxury casinos. The economic foundation of Monaco is the gaming sector. This little jurisdiction has 3 on-site casinos, and they are all in Monte-Carlo. There are other gaming arcades, such as the contemporary gaming space on the first floor of the renowned La Rascasse club.

One of the biggest draws for tourists to Monaco is the casino

Monaco's economy is fueled by the financial and accountancy industries, which together with gaming and tourism account for a sizable portion of the principality's income. Monaco, however, is so small that it is heavily dependent on outside funding to drive its economy and uphold the extraordinarily high level of living that its citizens enjoy.

Monaco continues to draw a lot of tourists, who in turn spend a lot of money while visiting the country, by upholding the outstanding standards of the casino and ensuring the gambling experience on offer there remains unmatched. Naturally, this has an impact on the Monegasques and makes it easier for them to maintain the luxurious lifestyle they have become accustomed to, enjoy, and live every day.

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The casino tourism industry will benefit from the growing popularity of online gambling

As more suppliers try to use the internet and mobile environments to reach a wider audience, the market is expected to grow over the course of the forecast period. These marketers will have a difficult time interacting with their customers on social media and on mobile in a way that seems individualized and non-intrusive. Marketers will need to provide content that is both educational and interesting because millennials make up a sizable portion of mobile consumers and intentionally avoid ads. The market for tourism to Monaco's casinos is mostly driven by the online gambling industry.

Country-wise Insight

Gaining benefits by generating taxes trending in Monaco Casino Tourism

The casino was first established to prevent the House of Grimaldi from becoming bankrupt, but it still helps the little country in other ways. Princess Caroline insisted vehemently that Monegasques should not be allowed within the casino from the moment it first opened its doors, and the prohibition has persisted to this day. Monaco does not impose income tax on its inhabitants because all of its casino revenue comes from foreigners. About 4% of Monaco's income comes from gambling, which is unquestionably a significant source of income for the principality.

More than 11% of Monaco's income comes from tourism, demonstrating that gaming is only one factor in the principality's economy. Although the casino attracts a fair share of high rollers, it's more common to see amazed visitors walking the floors, admiring the stunning architecture, and engaging in some people-watching. Tourists contribute to the economy in various ways, such as by staying in opulent hotels, dining out, and engaging in other pastimes, even though they may not necessarily provide significant gaming money.

Monte Carlo Casino is continuously going to be the main attraction in Monaco

The most well-known casino in the entire globe is arguably the Monte Carlo Casino. Charles III Grimaldi, Prince of Monaco, was its founder when it was first established in 1863. When the casino was being planned, the sole means of transportation between Nice and Monaco was a horse-drawn tram that could travel the distance via a rough road in roughly 4 hours. The need to construct a sturdy road was linked to plans to develop Monaco as a summer resort and draw players from Nice.

The principality of Monaco was not wealthy. The casino wasn't what it is today when it was first established; it was a small, poorly run business with a lousy reputation that discouraged visitors from visiting. The casino is managed by the business Société des Bains de Mer. The casinos and numerous other priceless spots in Monaco and Monte Carlo are still managed by them today. From the Society's earnings, the Grimaldi family receives a fixed salary.

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Category-wise Insights

Which is the most preferred Game Type in the Monaco Casino Tourism?

“Roulette are the most preferred Game type in the Monaco Casino Tourism”

One of the main factors contributing to Roulette's popularity as one of the most played casino games is the fact that it provides a larger chance of winning. There are 37 parts on the roulette wheel, each containing a number between 1 and 36 as well as a zero. No more wagers will be allowed until the ball has made two full revolutions, the croupier will proclaim. While all winning wagers are divided to the players, all losing wagers are paid back to the house.

Which age group Tourists is Preferred in the Monaco Casino Tourism?

“Medium age group leads the Monaco casino Tourism Market”

The majority of the travellers will be in the 35 to 50-year-old age range. Due to the fact that gambling is primarily enjoyed by those who have extra money to spend, these individuals are more likely to gamble with it.

What Tourist Type is Famous Amongst Tourists in the Monaco Casino Tourism?

“International Traveler is the most prominent category”

Monaco is one of the world's largest markets for both gambling and casinos. Travelers from all over the world are therefore eager to visit these casinos and will seize any opportunity to do so. As a result, there will be a considerable influx of foreign visitors to the Monaco Casino Market. The economic impact is what drives regional or global tourism growth strategies that draw tourists who are anticipated to buy both casino products and ancillary tourism services/experiences. The economic impact is what drives the popularity of casino-development projects undertaken in the last 20 years.

Competitive Landscape

The top businesses are able to maintain their competitive advantage in the industry by offering all-inclusive packages and saving the tourists from having to navigate many channels for their trips. Government funding and initiatives have contributed to the industry's expansion and have also helped enterprises expand their service offerings.

For Instance:

To commemorate the new relationship, Casino Secret and AS Monaco will jointly launch an exclusive digital campaign with a series of high-impact pieces of content geared toward the Japanese market.

Scope of Report

Attribute

Details

Forecast Period

2022-2032

Historical Data Available for

2017-2021

Market Analysis

US$ Million for Value

Key Regions Covered

Europe

Key Countries Covered

Monaco

Key Segments Covered

Game Type, Casino Type, End Users, Tourist Type, Tour Type, Consumer Orientation, Age Group, and Region

Key Companies Profiled

  • Tripadvisor
  • Venture Ashore
  • GetYourGuide.
  • Musement S.p.A.
  • Northstar Travel Media, LLC.
  • Viator, Inc.
  • Booking.Com
  • Kayak
  • Expedia, Inc.

Report Coverage

Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Customization & Pricing

Available upon Request

The Monaco Casino Tourism Market by Category

By Game Type:

  • 3 Card Poker
  • American Roulette
  • Blackjack
  • Casino Stud Poker
  • Dice
  • Punto Banco
  • Others

By Casino Type:

  • Commercial
  • Tribal
  • Limited Stakes
  • I-gaming

By End Users (% of Demand):

  • Gambling Enthusiasts
  • Social Exuberant
  • Dabblers
  • Lottery Loyalists
  • Unengaged Audience

By Tourist Type:

  • Domestic
  • International

By Tour Type:

  • Independent Traveller
  • Package Traveller
  • Tour Group

By Consumer Orientation:

  • Men
  • Women

By Age Group:

  • 15-25 Years
  • 26-35 Years
  • 36-45 Years
  • 46-55 Years
  • 66-75 Years

Frequently Asked Questions

The Monaco Casino Tourism Market is currently valued at US$ 4,282 Million in 2022.

The Monaco Casino Tourism Market is currently forecasted to grow at a rate of 8.5% CAGR during the forecast period.

Driving trends in the Monaco Casino Tourism Market are the Online gambling market and digital campaigns to boost the tourism market.

Leading players operating in the Monaco Casino Tourism Market are TripAdvisor, Venture Ashore, GetYourGuide., Musement S.p.A., Northstar Travel Media, LLC., Viator, Inc., Booking.Com, Kayak, Expedia, Inc. among others.

Table of Content

1. Executive Summary

    1.1. Monaco Market Outlook

        1.1.1. Who Is Travelling?

        1.1.2. How Much Do They Spend?

        1.1.3. Direct Contribution of Tourism To GDP

        1.1.4. Direct Contribution of Tourism To Employment

    1.2. Tourism Evolution Analysis

    1.3. FMI Analysis and Recommendations

2. Market Introduction

    2.1. Total Spending (US$ Mn) and Forecast (2022-2032)

    2.2. Number of Travelers (Mn) and Forecast (2022-2032)

    2.3. Total Spending Y-o-Y Growth Projections (2022-2032)

    2.4. Number of Travelers Y-o-Y Growth Projections

3. Global Tourism Industry Analysis

    3.1. Tourism Industry Overview

        3.1.1. Travel & Tourism Industry Contribution To Global GDP

            3.1.1.1. Business Spending v/s Leisure Spending

            3.1.1.2. Domestic v/s Foreign

            3.1.1.3. Direct, Indirect, and Induced

        3.1.2. Travel Sector Contribution To Global Overall Employment

        3.1.3. Travel & Tourism Growth Rate

        3.1.4. Foreign Visitor Exports As Percentage of Total Exports

        3.1.5. Capital Investment In Travel & Tourism Industry

        3.1.6. Different Components of Travel & Tourism

        3.1.7. Global Tourism Industry Outlook

            3.1.7.1. Cultural Tourism

            3.1.7.2. Culinary Tourism

            3.1.7.3. Eco/Sustainable Tourism

            3.1.7.4. Sports Tourism

            3.1.7.5. Spiritual Tourism

            3.1.7.6. Wellness Tourism

            3.1.7.7. Others

4. Monaco Casino Tourism Market Dynamics

    4.1. Market Drivers & Opportunities

        4.1.1. Government authorities legalising and regulating gambling

        4.1.2. Casinos generating employment and aiding the economic growth

        4.1.3. Others (during the course of study)

5. Market Background

    5.1. Top 10 Monaco Casino Tourism Market Companies

    5.2. Macro-Economic Factors

        5.2.1. Global GDP Growth Outlook

        5.2.2. Global Industry Value Added

        5.2.3. Global Consumer Spending Outlook

        5.2.4. Global Direct contribution of Travel & Tourism to GDP

        5.2.5. Global Visitor Exports and International Tourist Arrivals

        5.2.6. Capital Investment In Travel & Tourism

        5.2.7. Top Tourism Spending Countries

    5.3. Forecast Factors - Relevance & Impact

6. Categorizing of Monaco Casino Tourism Sector 2021

    6.1. Introduction/ Key Findings

    6.2. Current Market Analysis By Game Type (% of Demand)

        6.2.1. 3 Card Poker

        6.2.2. American Roulette

        6.2.3. Blackjack

        6.2.4. Casino Stud Poker

        6.2.5. Dice

        6.2.6. Punto Banco

        6.2.7. Others

    6.3. Current Market Analysis By Casino Type (% of Demand)

        6.3.1. Commercial

        6.3.2. Tribal

        6.3.3. Limited Stakes

        6.3.4. I-gaming

    6.4. Current Market Analysis By End Users (% of Demand)

        6.4.1. Gambling Enthusiasts

        6.4.2. Social Exuberant

        6.4.3. Dabblers

        6.4.4. Lottery Loyalists

        6.4.5. Unengaged Audience

    6.5. Current Market Analysis By Age Group (% of Demand)

        6.5.1. 18-25 Years

        6.5.2. 25-35 Years

        6.5.3. 35-50 Years

        6.5.4. 50-65 Years

        6.5.5. 65 Years and Above

    6.6. Current Market Analysis By Tourist Type (% of Demand)

        6.6.1. Domestic

        6.6.2. International

    6.7. Current Market Analysis By Age Group (% of Demand)

        6.7.1. Men

        6.7.2. Women

    6.8. Current Market Analysis By Tour Type (% of Demand)

        6.8.1. Independent Traveller

        6.8.2. Tour Group

        6.8.3. Package Traveller

    6.9. Key Findings, By Each Category

7. Competition Analysis

    7.1. Competition Dashboard

    7.2. Competition Benchmarking

    7.3. Competition Deep Dive

        7.3.1. Kayak

            7.3.1.1. Overview

            7.3.1.2. Service Portfolio

            7.3.1.3. Strategy Overview/campaigns

        7.3.2. Tripadvisor

            7.3.2.1. Overview

            7.3.2.2. Service Portfolio

            7.3.2.3. Strategy Overview/campaigns

        7.3.3. Venture Ashore

            7.3.3.1. Overview

            7.3.3.2. Service Portfolio

            7.3.3.3. Strategy Overview/campaigns

        7.3.4. GetYourGuide.

            7.3.4.1. Overview

            7.3.4.2. Service Portfolio

            7.3.4.3. Strategy Overview/campaigns

        7.3.5. Musement S.p.A.

            7.3.5.1. Overview

            7.3.5.2. Service Portfolio

            7.3.5.3. Strategy Overview/campaigns

        7.3.6. Northstar Travel Media, LLC.

            7.3.6.1. Overview

            7.3.6.2. Service Portfolio

            7.3.6.3. Strategy Overview/campaigns

        7.3.7. Viator, Inc.

            7.3.7.1. Overview

            7.3.7.2. Service Portfolio

            7.3.7.3. Strategy Overview/campaigns

        7.3.8. Booking.Com

            7.3.8.1. Overview

            7.3.8.2. Service Portfolio

            7.3.8.3. Strategy Overview/campaigns

        7.3.9. Expedia, Inc.

            7.3.9.1. Overview

            7.3.9.2. Service Portfolio

            7.3.9.3. Strategy Overview/campaigns

        7.3.10. Others (as per request)

            7.3.10.1. Overview

            7.3.10.2. Service Portfolio

            7.3.10.3. Strategy Overview/campaigns

    7.4. Social Media Platforms Preferred

        7.4.1. Facebook

        7.4.2. YouTube

        7.4.3. Instagram

        7.4.4. Twitter

        7.4.5. LinkedIn

        7.4.6. Pinterest

        7.4.7. Google+

        7.4.8. Others

    7.5. Perceptions on the Proposed Art Sector Tour Package

    7.6. Consumer Perception for Destinations On Social Media Platforms-Positive and Negative Mentions

    7.7. Trending #Hashtags

    7.8. Social Media Platform Mentions (% of Total Mentions)

    7.9. Region-Wise Social Media Mentions (% of Total Mentions)

    7.10. Trending Subject Titles

8. Assumptions and Acronyms Used

9. Research Methodology

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Monaco Casino Tourism Market