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Article #114: Monaco Yachts Attract Royalty and Multi-Millionaires

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The super yacht industry has gone from 'If someone is visiting Monaco for the
strength to strength in recent years, and Yacht Show and has several million Euros
the Monaco Yacht Show has proved to be available, it's a pretty safe assumption
the natural home for their annual display that those buyers will have a few million
to would be buyers. for a property too, and a luxury yacht
Spotted among possible buyers was British and Monaco Real Estate appeal to the same
Royal Prince Michael of Kent. type of buyer.'
The world's leading luxury yacht show in Typical of Monaco Real Estate prices is a
Monaco held 18-22 September is to pay for two bedroom two bathroom apartment in
55 wind turbines in New Zealand - enough Seaside Plaza, close to where the Yacht
to generate power for 45,000 homes - Show is located, at 3,700,000 Euros.
making the event 'carbon neutral'. Monaco Hotels
Under the watchful eye of Prince Albert, The emergence of the Yacht Show has
the yacht show is part of Monaco's new helped the Monaco economy by drawing the
stance on global warming, and comes world's wealthy to the principality for
shortly after Prince Albert himself four days in September.
travelled to the North Pole in April to Until recently the Monaco Grand Prix in
highlight the damage he believes global May and the Monte Carlo Masters tennis
warming is having on the environment. the month before have been the two main
'Since Prince Albert came to the throne events of the year which boost the
last year' commented one Monaco travel occupancy levels of the hotels in Monaco.
guide after the show, 'Monaco has changed With the Yacht Show in September filling
her policy from one of the few countries the hotels at premium rates, it has
not to sign the Kyoto Protocol to not proved to be a welcome addition to the
only signing it but taking a lead in the calendar of events for both residents and
battle against global warming. Prince businesses alike, and the Hotel de Paris
Albert has personally taken steps to show Monte Carlo proved to be the scene of
how concerned he is, and by setting the many deals being signed over the four
example of going to the North Pole has days.
shown the leadership necessary to This year also saw the first Monaco
encourage Monaco companies to become Flower Show, which it is hoped will also
environmentally friendly, and the Monaco be a tourist magnet in future years.
Yacht Show is an example of this'. 'In the past Monaco has had the
The Monaco Yacht Show has bult a highlights of the Monaco Grand Prix and
reputation over the years as the place the tennis, with consistent numbers of
for the wealthy to view potential visitors the rest of the year,' say the
purchases, and this year there will be Monaco travel guide, 'but Monaco is
nearly a hundred yachts on display to becoming much more diverse in what it
those able to afford it. offers throughout the calendar year. The
In total some 22,000 visitors attended Yacht Show has been a success, and given
with over 500 exhibitors from the a little time the Monaco Flower Show will
yachting world exhibiting. appeal to a different type of tourist,
The mix of wealth and Monte Carlo also and might be as popular as the Hampton
means that real estate agents in Monaco Court and Chelsea Flower Shows are in the
were on full alert. In previous years the UK. Diversity is the key to sustained
Monaco Yacht Show has often proved more tourism, and Monaco is doing it very
beneficial for the realtors than the well.
Monaco Grand Prix. Despite being the second smallest country
The Monaco Grand Prix attracts tens of in the world, Monaco has attracted many
thousands of Formula 1 fans annually to of the world's top business and
the principality at the end of May, but entertainment people to live there due to
with some Monte Carlo streets closed, her income tax free status, and with
showing property in Monaco can be more Prince Albert at the helm it seems that
problematic than during the Yacht Show. the principality is beginning to punch
A Monte Carlo real estate agent says that above her weight in world politics as he
the more relaxed atmosphere of the Yacht takes the lead on environmental issues',
Show allows potential property buyers to they add.
view properties.






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