Overview of Monaco

Profile

Despite covering only about 2 square kilometers, Monaco is famous for its Mediterranean climate, luxurious casinos, and international events like the Monaco F1 Grand Prix. While French is the official language, English and Italian are widely spoken in this multinational society. Tax incentives and high living standards attract wealthy individuals from around the world, creating an internationally diverse society where over two-thirds of the population holds foreign nationality. Tourism, finance, and real estate are the main industries, with per capita income among the world's highest.

Official name: Principality of Monaco
Common name: Monaco
Numeric code: 492
Alpha-3 code: MCO
Alpha-2 code: MC
Population: Approx. 39,000 (2023)
Population density: Approx. 19,000 people/km²
Primary languages: French, Monégasque, Italian, English
Major religions: Roman Catholicism
National anthem: Hymne Monégasque
Calling code: +377
Internet TLD: .mc

History

Since the 13th-century seizure of the rock by the Grimaldi family, the principality has been consistently ruled by the same dynasty.

The origins of Monaco date to François Grimaldi's seizure of the rock in 1297. While influenced by Genoa, Spain, Sardinia, and France over subsequent centuries, sovereignty was formally recognized by the 1861 Franco-Monégasque Treaty. A constitution was established in 1911, transitioning to constitutional monarchy. The 20th century saw tourism development through casinos and railway connections, with economic diversification pursued by Prince Rainier III after World War II. Monaco joined the United Nations in 1993, and the current monarch Prince Albert II, who ascended in 2005, promotes policies focused on sustainability and ocean protection.

Geography & climate

Urban landscape along Ligurian coast where cliffs and hills meet the sea, with flat areas expanded through land reclamation

Mediterranean climate

Area: Europe / 2.02 km²
Capital: Monaco-Ville (de facto)
Largest city: Monte Carlo District
Coastal status: Yes
Bordering countries: France

Natural resources

Mild climate, Natural harbor, Beautiful coastline, Diverse marine ecosystems, Solar resources, Limestone cliffs, Landscape resources

Politics

Government: Constitutional monarchy (Principality)

Economy

Currency: Euro (EUR)

GDP (nominal): Approx. 9.5 billion USD (2022)

GDP (PPP):

Language & timezone

Primary languages: French, Monégasque, Italian, English

Time zone: CET, CEST

Culture & customs

Ethnic groups

Monégasque, French, Italian, British, Belgian

Life expectancy

Approx. 85.8 years

Literacy rate

99%

National sports

Motorsports, Football, Tennis, Athletics, Yacht Racing