Monaco Location : Western Europe, bordering the Mediterranean Sea on the southern coast of France, near the border with Italy
Capital City : Monaco
Curreny : euro (EUR); French franc (FRF)
Languages Spoken : French (official), English, Italian, Monegasque
Climate : Mediterranean with mild, wet winters and hot, dry summers
National Holiday : National Day (Prince of Monaco Holiday), 19 November
Background Information
Economic development was spurred in the late 19th century with a railroad linkup to France and the opening of a casino. Since then, the principality's mild climate, splendid scenery, and gambling facilities have made Monaco world famous as a tourist and recreation center.
Geographical Note
second smallest independent state in the world (after Holy See); almost entirely urban
Economy
Monaco, situated on the French Mediterranean coast, is a popular resort, attracting tourists to its casino and pleasant climate. In 2001, a major new construction project will extend the pier used by cruise ships in the main harbor. 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, roughly comparable to those in prosperous French metropolitan areas. Monaco does not publish national income figures; the estimates below are extremely rough.
Religions
Roman Catholic 90%
Ports : Monaco
International Disputes - Risks to travellers
: none
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