Operation Carlo - The Prince's Government has expressed it’s delight with the success of "Operation Carlo". As part of the various measures to support the economy, the Prince's Government notably repeated the Carlo operation at the end of 2021. This involved paying an exceptional bonus, directly converted into purchase vouchers, on the Carlo application, to around 10,000 civil servants, State and Municipal employees, retired civil servants and non-medical staff at the Princess Grace Hospital Centre. This amount, varying from 350 to 650 euros per person, can only be spent exclusively in shops in the Principality before March 31st. For each transaction carried out, the customer receives a cash back of 5% of the amount that he can spend again in the network of shops affiliated with Carlo. The objective is both to support the purchasing power of employees while boosting local consumption in order to support the Monegasque economy.
Out of a total amount of 6.5 million euros for the state bonus paid last December, to date, an amount of 4.3 million has already been spent in the 395 partner businesses of the Carlo application. This is direct support injected into the local economy as the month of January was marked by an epidemic rebound. The Prince's Government is also delighted with the new participation of 14 private economic players or organizations who have also decided to grant a bonus to their staff in the form of Carlo shopping vouchers.
Since the launch of the operation on December 1st, the number of daily transactions has doubled compared to last year. The application has accumulated a record number of 96,000 transactions, which represents a total of 9 million euros injected directly into the local economy and generated 630,000 euros in cash back, which will in turn be spent with partnered businesses. These results confirm the success of the economic recovery strategy via local consumption.
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