Monaco, situated on the French Mediterranean coast, is a popular resort with pleasant climate. The principality has successfully sought to diversify into services and small, high-value-added, nonpolluting industries. The state has no income tax and low business taxes and thrives as a tax haven both for individuals who have established residence and for foreign companies that have set up businesses and offices. The state retains monopolies in a number of sectors, including tobacco, the telephone network, and the postal service. Living standards are high, mild climate, splendid scenery, comparable to those in prosperous French metropolitan areas.

Location:
Western Europe, bordering the Mediterranean Sea on the southern coast of France, near the border with Italy
Geographic coordinates:
43 44 N, 7 24 E
Area:
total: 1.95 sq km
water: 0 sq km
land: 1.95 sq km
Area – comparative:
about three times the size of The Mall in Washington, DC
Land boundaries:
total: 4.4 km
border countries: France 4.4 km
Coastline:
4.1 km
Climate:
Mediterranean with mild, wet winters and hot, dry summers
Terrain:
hilly, rugged, rocky
Geography – note:
second-smallest independent state in the world (after Holy See); almost entirely urban
Population:
32,130
Nationality:
noun: Monegasque(s) or Monacan(s)
adjective: Monegasque or Monacan
Ethnic groups:
French 47%, Monegasque 16%, Italian 16%, other 21%
Religions:
Roman Catholic 90%
Languages:
French (official), English, Italian, Monegasque
Literacy:
definition: NA
total population: 99%
male: NA%
female: NA%
Government Monaco Top of Page
Country name:
conventional long form: Principality of Monaco
conventional short form: Monaco
local short form: Monaco
local long form: Principaute de Monaco
Government type:
constitutional monarchy
Capital:
Monaco
Administrative divisions:
There are four quarters; Fontvieille, La Condamine, Monaco-Ville, Monte-Carlo
Independence:
1419 (beginning of the rule by the House of Grimaldi)
National holiday:
National Day (Prince of Monaco Holiday), 19 November
Constitution:
17 December 1962
Legal system:
based on French law; has not accepted compulsory ICJ jurisdiction
Suffrage:
21 years of age; universal
Executive branch:
chief of state: Prince RAINIER III (since 9 May 1949); Heir Apparent Prince ALBERT Alexandre Louis Pierre, son of the monarch (born 14 March 1958)
elections: none; the monarchy is hereditary;
Monaco does not have an embassy in the US
GDP – per capita:
purchasing power parity – $27,000 (1999 est.)
Unemployment rate:
3.1% (1998)
Budget:
revenues: $518 million
expenditures: $531 million, including capital expenditures of $NA (1995)
Industries:
tourism, construction, small-scale industrial and consumer products
Currency:
euro (EUR)
Currency code:
EUR
Exchange rates:
euros per US dollar – 1.06 1.0626
Telephone system:
general assessment: modern automatic telephone system
domestic: NA
international: no satellite earth stations; connected by cable into the French communications system
Radio broadcast stations:
AM 1, FM NA, shortwave 8 (1998)
Television broadcast stations:
5 (1998)
Airports:
none; linked to airport in Nice, France, by helicopter service
Heliports:
1 (shuttle service between the international airport at Nice, France, and Monaco’s heliport at Fontvieille) (2002)
Military Monaco Top of Page
Military – note:
defense is the responsibility of France
Disputes – international:
none