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Here’s what it’s like to attend the Monaco Yacht Show — in a country where the poverty rate is 0 — when you are not a millionaire


monaco yacht show

Monaco is a tiny yet lavishly wealthy city-state on the French Riviera.
It has a zero poverty rate, and an estimated one-third of the population are millionaires.
Monaco has been called a playground for millionaires. I am not a millionaire.

At this year’s Monaco Yacht Show, an estimated 30,000 people came to see the more than $4.3 billion worth of yachts displayed in the port.
Guests included yachting-industry insiders — including superyacht builders, designers, and brokers — as well as wealthy private clients looking to charter or purchase yachts.
I spent two days at this year’s yacht show. It’s safe to say that my experience was very different from the experience for millionaires.
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Allow me to start out by saying this: I am not a millionaire. I am a journalist. And I live in New York City, which means overpriced drinks and food are pretty par for the course.

But I did spend one fabulously ritzy week in a country that has no poverty and where 32% of the inhabitants are millionaires: Monaco.

This year’s Monaco Yacht Show brought an estimated 30,000 people from around the world to the tiny city-state on the French Riviera. These attendees are yachting-industry insiders — including superyacht builders, designers, and brokers — as well as wealthy private clients looking to tour, charter, or purchase yachts.

Monaco may be smaller than New York City’s Central Park, but it’s one of the wealthiest countries in the world, with a per capita GDP of $165,420 — the second highest in the world after Liechtenstein. An estimated 32% — or about one-third — of the country’s residents are millionaires.

And according to the CIA World Factbook, no portion of Monaco’s population lives below the poverty line.

This wealth was evident from the moment I arrived in Monaco — and even while I was booking my trip.

Here’s what it’s like to attend the glamorous Monaco Yacht Show when you’re not a millionaire.

SEE ALSO: I got into a Monaco Yacht Show gala for VIP superyacht buyers and industry elite. Here’s what it was like at the exclusive party, which overlooked $4.3 billion worth of superyachts in the port.

DON’T MISS: What it’s like living in Monaco, the glamorous city-state on the French Riviera that’s home to a glitzy annual yacht show and where an estimated 1 in 3 people is a millionaire

The glamorous Monaco Yacht Show is one of the world’s premier yachting events.

More than $4.3 billion worth of yachts floated around in Port Hercules over the course of the show, with an average price of about $41 million.

At the first edition of the Monaco Yacht Show, in 1991, there were only 32 yachts on display.

And this is me. As I said before, but as it bodes saying again, I am not a millionaire. I am a journalist. I’ve got inside looks at a variety of luxury hotels across NYC, toured penthouses in Miami and Moscow, and …read more

Source:: Business Insider

      

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