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.

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
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
4.1 km
Mediterranean with mild, wet winters and hot, dry summers
hilly, rugged, rocky
Geography – note:
second-smallest independent state in the world (after Holy See); almost entirely urban
noun: Monegasque(s) or Monacan(s)
adjective: Monegasque or Monacan
Ethnic groups:
French 47%, Monegasque 16%, Italian 16%, other 21%
Roman Catholic 90%
French (official), English, Italian, Monegasque
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
Administrative divisions:
There are four quarters; Fontvieille, La Condamine, Monaco-Ville, Monte-Carlo
1419 (beginning of the rule by the House of Grimaldi)
National holiday:
National Day (Prince of Monaco Holiday), 19 November
17 December 1962
Legal system:
based on French law; has not accepted compulsory ICJ jurisdiction
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)
revenues: $518 million
expenditures: $531 million, including capital expenditures of $NA (1995)
tourism, construction, small-scale industrial and consumer products
euro (EUR)
Currency code:
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)
none; linked to airport in Nice, France, by helicopter service
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: