The day before MIPIM officially opens is always a slightly odd one. Cannes is clearly preparing for something large, but the event itself has not quite begun.

Inside the Palais des Festivals, stands are still being assembled and cables run across the floors as contractors finish the final touches. Outside, along the Croisette, the terraces that will soon be packed with delegates are only beginning to fill.

For now, the prevailing activity is arrival.

Airports and train stations across the south of France are delivering the steady flow of dark-blue suits that will populate Cannes for the rest of the week. But the early impression this year is that the numbers may be slightly lower than usual.

Our taxi driver from the airport offered his own verdict: “Très calme cette année.” Certainly the streets around the Palais appeared quieter than one might expect on the eve of the conference.

There is also speculation about who may not be coming. Several people have mentioned that delegations from the Middle East appear smaller this year. One delegate suggested that while leaving the region is relatively straightforward, returning can be more complicated at present, with fewer flights available.

Whether that proves to be a meaningful factor in attendance will become clearer over the next day or two.

For now, Cannes itself remains calm. The weather is mild but overcast, the sea grey rather than Mediterranean blue. By tomorrow the tempo will change and the terraces along the Croisette will once again be full of conversations about rents, yields and the direction of the market.

– James Whitmore, director

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