The Principality of Monaco

The Principality of Monaco is the second smallest country in the world.  It is second only 
to Vatican City.  It is located in south central Europe surround by France, and the Mediterranean 
Sea.  The area of the country is only 0.734 square miles, about the size of Central Park in New 
York City.  Even though Monaco is one of the smallest countries in the world, it is one of the 
wealthiest because of the banking system and high income from tourists.  Monaco attracts 
worldwide visitors because of its glamour, elegance, and posh casino, beach, hotels, and 
restaurants. Monaco is also well known for its movie star princes, the late Princes Grace of 
Monaco.

The population of Monaco is about 32,000 people. More than 80% percent of the 
population are not native Monegasque, but come mainly from France, Italy, and many other 
places.  The official language is French, but English, Italian, and Monegasque (blend of French 
and Italian) are also spoken.  The dominant and official religion here is Roman Catholic.  Forty 
six percent of the work force is in the banking system.  They also have one of the highest per 
capita incomes in the world of $25,000 US dollars.

	The country is located on the Mediterranean coast, 11 miles east of Nice, France, and is 
surrounded by France on all sides.  The country of Monaco is so small that it is really one city 
divided into four sections.  The sections are Monaco-Ville (the capital), the old city on a rock 
ledge overlooking the Mediterranean. La Condamine, is the port area. Monte-Carlo, is the resort 
and residential area.  Frontvielle, is land reclaimed from the sea.  Generally Monaco is very rocky 
and hilly.  It has a beach that goes along the Mediterranean Sea.  The average minimum 
temperature in January is 47* F; in July it is 78* F.

	The typical greeting in Monaco is a handshake.  "Bonjour" is a common verbal greeting.                        
Western-style and European fashions are worn.  Monaco's cuisine is mainly Mediterranean, with 
lots of fresh tomatoes, olive oil, garlic, onions, and olives.  Seafood is also very plentiful. 
Bouillabaisse, a fish stew, is a national favorite.  Champagne is the national beverage.  Because 
of Monaco's small size the Monegasques have a close relationship with the royal family.  Adults 
are invited to the palace for special events and the children are invited to a Christmas party each 
year.  Monegasques enjoy casino gambling, going to the beach, visiting museums, watching 
television, playing golf, and playing tennis.  The Monaco Grand Prix is a racing event that takes 
place in Monaco.  Residents gather around different points to watch the 100-lap race.

	Monaco was founded in 1215 as a colony of Genoa, and has been ruled by the House of 
Grimaldi since 1297, except when under French control from 1789 to 1814.  Designated as a 
protectorate of Sardinia from 1815 until 1860 by the Treaty of Vienna, Monaco's sovereignty 
was recognized by the French-Monegasque Treaty of 1861.  The Prince of Monaco was an 
absolute ruler until a constitution was promulgated in 1911.  In 1918, a treaty was written into the 
Treaty of Versailles providing limited French protection over Monaco.  It also stated that 
Monegasque policy would be aligned with French political, military, and economic interests.  
The current ruler of Monaco is Prince Rainier III, who acceded the throne following the death of 
his grandfather, Prince Louis II, in 1949.  In 1962 Monaco proclaimed a new constitution that 
established a Supreme Court and abolished capital punishment.  In 1993, Monaco became an 
official member of the United Nations with full voting rights.

	Monaco is a popular resort, attracting tourists to its warm weather and casino.  Monaco 
has successfully sought to diversify into services and small, high-value-added, nonpolluting 
industries.  These industries include chemicals, plastics, precision instruments, cosmetics, and 
ceramics.  Monaco imports about $415, 272 US dollars worth of goods and exports about 
$415,272 US dollars.  There is no income tax and there is a low business tax.  Fifty five percent 
of Monaco's revenue comes from taxes on hotels, banks, and the industrial sector.  Living 
standards are very high. Monaco's currency is currently the French franc but will be changing to 
the Euro.  Monaco's gross domestic product (GDP) is about $788 million in 1994.  The per 
capita GDP is about $25,000.

	Tourism accounts for more than 50% of the annual revenue for Monaco.  Because 
Monaco is such a small country it can be seen in a weekend.  You can take a helicopter ride and 
view the whole country from the air. You can also visit the casino and the many museums.  Some 
of the place you can visit.  Monaco's Cathedral, is a late 19th-century neo-Romanesque 
confection in which Philadelphia-born Princess Grace lies in spender along with past members of 
the Grimaldi dynasty.  Musee Historial des Princes de Monaco (Waxworks Museum), a 
Monegasque Madame Tussauds, with one-too-realistic wax figures stiffly portraying various 
episodes in the Grimaldi history.  The Oceanographique (Oceanography Museum and Aquarium) 
is a fascinating museum that is also an internationally renowned research institute founded by 
Prince Albert. Well-known underwater explorer Jacques Cousteau is the present director.  The 
aquarium is the undisputed high-light, however, where a collection of the world's fish and 
crustacea live out there life in public, some colorful, some drab, some the stuff nightmares are 
made of. These, plus much more, are the things you can do in the exciting Principality of 
Monaco.      
 
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