Monaco

About

Monaco is the second-smallest sovereign state globally, with an area of approximately 2.08 km². Located on the French Riviera, it is bordered by France and the Mediterranean Sea. The principality is governed as a constitutional monarchy, with Prince Albert II as the head of state. Monaco's economy is heavily reliant on tourism and financial services, making it a significant financial hub. The absence of personal income tax for most residents, except French citizens, contributes to its appeal as a tax haven. Monaco is renowned for its luxurious lifestyle, featuring the famous Monte Carlo Casino and hosting the prestigious Monaco Grand Prix. The country has a high population density, with over 38,000 residents, many of whom are millionaires. Monaco's cultural and historical landmarks include the Oceanographic Museum and the Prince's Palace. Its mild Mediterranean climate and stunning landscapes make it a popular tourist destination throughout the year. Despite its small size, Monaco maintains a distinct identity and plays a notable role in international affairs.