Monaco
Monaco is a city-state on the French Riviera, bordered by France to the north, east and west. It is the second-smallest country in the world, after Vatican City, and the most densely-populated. It the world's shortest coastline, at just 3.83 km. Through onging land reclamation Monaco's land mass has expanded by 20% since 1861.
In the late 19th century the Casino de Monte-Carlo opened, which, combined with the climate and rail connections to major French cities, lead to it becoming a popular tourist destination among the wealthy. In more recent years, it has also become a major banking centre and a tax haven, as it has no income tax and low business taxes. As a result, more than 30% of the residents are millionaires, with real estate prices reaching €100,000 per square metre. It is also a global hub of money laundering.
Monaco is not a part of the European Union, but it participates in some EU policies, including customs and border controls, and uses the Euro as its sole currency. It hosts the annual Formula One Monaco Grand Prix. Monaco is a centre for marine conservation research, hosting an Oceanographic Museum, and the International Atomic Energy Agency Environment Labs.
Deo Juvante
Founding Date
1297
Type
Geopolitical, City-state
Alternative Names
Principauté de Monaco (French) | Prinçipatu de Mùnegu (Monégasque)
Demonym
Monégasque | Monacan
Government System
Monarchy, Constitutional
Power Structure
Unitary state
Controlled Territories