Monaco – formally known as the Principality of Monaco – is a microstate with a constitutional monarchy located in southern France in Western Europe. Monaco is situated on the French Riviera along the Ligurian Sea, part of the Mediterranean, a few kilometers from the French-Italian border but is otherwise surrounded by France. The small microstate has a reputation for having a very affluent population and is also considered a tax haven. Have you perhaps been on vacation here at some point? Or maybe you have plans to visit the microstate? If so, you should read these ten fascinating points about Monaco!
Monaco is the world’s second smallest country by area…
Monaco has a total population of around 37,550 (statistics from July 2016) and a total land area of 2.02 square kilometers. This makes it the most densely populated and second smallest country in the world. Wondering which country is the world’s smallest? It’s also in Europe and is called the Vatican City. [source]
Such a Large Portion of the Population are Millionaires…
Almost 30% of Monaco’s population were millionaires, according to a survey from 2014. This is on par with cities like Zurich and Geneva in Switzerland. It’s no wonder that these three cities are among the most expensive places to live in the world. In 2018, there were 12,261 millionaires in the country. [source]
Location for Scenes in Three James Bond Movies…
Three James Bond movies have been filmed at the Monte-Carlo Casino. And why not, really? The casino is so stylish and luxurious that it attracts hundreds of thousands of tourists annually. What is also noteworthy is that the casino opened in 1863. However, Monaco’s natives are not allowed to gamble here or even visit the casino. This rule was introduced by the country’s government, which does not want its citizens to gamble away their money. [source]
Grand Prix a Significant Part of the Country’s Tourism…
Monaco’s Grand Prix is one of the major events the country hosts each year. The annual event became a Formula 1 World Championship race in 1950. It is currently the only race featuring a tunnel. In the past, the tunnel was called the “Black Hole,” but not anymore since it is well lit. Note that Italian Formula 1 driver Ayrton Senna has won the Grand Prix a total of six times, more than any other race car driver. [source]
Casinos Introduced to Save the Ruling Family from Bankruptcy…
Princess Caroline is credited with establishing casinos in Monaco to support the Grimaldi family (the ruling family in Monaco at the time) from bankruptcy. The country is also often called a tax haven and essentially survives solely on the revenue generated from its tourism and casinos. [source]
A Microstate with Extensive Helicopter Traffic…
The small microstate has no airports but has helicopter landing pads. One could even say that Monaco is not large enough to even have an airport. During peak season, the helicopter pads receive helicopters at intervals of 20 minutes. [source]
It’s Understandably Crowded on the Streets…
A surprising fact about Monaco is that the country’s population more than doubles during the daytime, when its approximately 50,000 workers arrive from mainly France and Italy. No wonder it gets crowded in the small country during the tourist season. [source]
The High Cost of Living Here…
On average, a small studio apartment in the microstate costs around $1.6 million. A “regular” apartment ranges anywhere from $2.2 million to $22.3 million. But real luxury flats have been sold for over $55 million in the tiny micronation. And prices are only going up – since 2018, they have increased by about 18%! In 2017, the average price was around $4.5 – $5 million for an apartment. [source]
Extremely Low Crime Rates…
Monaco claims to be one of the most secure countries in the world, with a 24-hour video surveillance system covering the entire country. Additionally, there is one police officer per hundred citizens. This leads to very low crime rates in the country. [source]
Monaco Has the Highest Life Expectancy in the World…
Monaco’s life expectancy is higher than San Marino (85 years), Hong Kong (85 years), and Japan (84 years), according to World Bank data. The life expectancy extends to a remarkable 85.5 years. [source]
