Monaco Tourist and Convention Authority's Convention Bureau has set itself an ambitious objective – to achieve 230,000 overnight stays for Business Tourism by 2015.
How will the Principality meet this challenge in an ultra-competitive market? The secrets of a winning strategy.
As everyone knows, Business Tourism was the market most affected by the economic crisis - there was less demand, and more destinations were on offer. Today, the market seems to be readjusting, although competition is still strong. The Principality of Monaco has many assets, making the "Monaco" offer one of the most appealing. But it still needs to be publicized.
For Sandrine Camia, who has recently been appointed head of the Convention Bureau, the strategy rests on synergy with key players in Monaco. "We have drawn on all our different talents to achieve our objectives. Today, we are in the fortunate position of being able to work together with all our tourism partners (hotels and incoming agencies) and our Congress Centre, the Grimaldi Forum Monaco, so as to act and speak as one."
The Convention Bureau is a unique one-stop-shop and a particularly reactive kind of organizing facility. Increasingly, requests are made at the last minute, and Sandrine Camia stresses the importance of reactivity as a decision-making tool "in most cases, we give a detailed response in less than 48 hours."
This is a real strength, and an asset that appealed to the organizers of the International Cash & Treasury Management Conference, which is to be held in Monaco in September 2012, with more than 1,000 participants over three days. Reactivity, but also accessibility, plus a unique offer entitled "Monaco Meetings" (www.monacomeetings.com) were all key factors in this decision.
With more than 200,000 Euros for promotions in the specialist media, new tools and targeted activities in the priority markets, the three-yearly road map is meeting its objectives.
"In 2011, Business Tourism accounted for a market share of almost 20% for overnight stays in Monaco, with a total of 157,000. The latest trends leave us confident that we will see a return to our 2007 performance levels," affirmed Sandrine Camia.
"A small country with great potential," proclaims the advertising campaign. Monaco has real appeal and is becoming a destination that must be considered, above and beyond any received ideas and clichés. Every year, 700 different events take place in Monaco.