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