Monaco
Monaco Overview
Situated right in France’s Côte d'Azur, or the French Riviera as we Brits like to call it, the Principality of Monaco (or Monte Carlo) is the world’s wealthiest state, with an average income several times that of the UK. This goes some way to explaining why it’s also the most densely populated country. The Grimaldi’s have been in control of Monaco since 1297 with a brief interlude when French Revolutionary forces took over in 1797.
France has however been in charge of defence since 1911.
The main attraction over the years has been the gambling industry in Monaco, which was legalised in 1846 to help pay for the Grimaldi’s debts at the time. Benefitting from the then new coastal rail route to Italy, the casino business boomed under the management of the Blanc family, spawning the growth of hotels and restaurants.
Monaco charges no income tax on its citizens, which has been the main draw for new residents. Some well publicised recent additions to the community have included high-profile business people and racing drivers, not to mention the odd super model. The Monaco Grand Prix takes place every year through the streets of the state, attracting lots of money, glamour, people and publicity.
The main draw for the tourist? Gawking.