TheMarketingSite.com

Countries

Monaco

Monaco (/ˈmɒnəkoʊ/; French pronunciation: ​[mɔnako]), officially the Principality of Monaco (French: Principauté de Monaco), is a sovereign city-state and microstate, located on the French Riviera in Western Europe.

France borders the country on three sides while the other side borders the Mediterranean Sea.

Monaco has an area of 2.02 km2 (0.78 sq mi) and a population of about 37,800; it is the second smallest and the most densely populated country in the world.

Monaco has a land border of 4.4 km (2.7 mi), a coastline of 4.1 km (2.5 mi), and a width that varies between 1,700 and 349 m (1,859 and 382 yd).

The highest point in the country is a narrow pathway named Chemin des Révoires on the slopes of Mont Agel, in the Les Révoires Ward, which is 161 metres (528 feet) above sea level.

Monaco's most populous Quartier is Monte Carlo and the most populous Ward is Larvotto/Bas Moulins.

Through land reclamation, Monaco's land mass has expanded by twenty percent.

Monaco is known as a playground for the rich and famous, due to its laws facilitating tax evasion.

In 2014, it was noted about 30% of the population was made up of millionaires, similar to Zürich or Geneva.

Monaco is a principality governed under a form of constitutional monarchy, with Prince Albert II as head of state.

Although Prince Albert II is a constitutional monarch, he wields immense political power.

The House of Grimaldi have ruled Monaco, with brief interruptions, since 1297.

The official language is French, but Monégasque, Italian, and English are widely spoken and understood.

The state's sovereignty was officially recognized by the Franco-Monegasque Treaty of 1861, with Monaco becoming a full United Nations voting member in 1993.

Despite Monaco's independence and separate foreign policy, its defense is the responsibility of France.

However, Monaco does maintain two small military units.

Economic development was spurred in the late 19th century with the opening of the country's first casino, Monte Carlo, and a railway connection to Paris.

Since then, Monaco's mild climate, scenery, and gambling facilities have contributed to the principality's status as a tourist destination and recreation center for the rich.

In more recent years, Monaco has become a major banking center and has sought to diversify its economy into services and small, high-value-added, non-polluting industries.

The state has no income tax, low business taxes, and is well known for being a tax haven.

It is also the host of the annual street circuit motor race Monaco Grand Prix, one of the original Grands Prix of Formula One.

Monaco is not formally a part of the European Union (EU), but it participates in certain EU policies, including customs and border controls.

Through its relationship with France, Monaco uses the euro as its sole currency (prior to this it used the Monégasque franc).

Monaco joined the Council of Europe in 2004.

It is a member of the Organisation Internationale de la Francophonie (OIF).

Region:Europe & Central Asia
Income Level:High income
Population, total:38,695 (2017)
Capital:Monaco
Longitude:7.41891
Latitude:43.7325
Merchandise trade (% of GDP)

There is no data available for this indicator.

Merchandise trade as a share of GDP is the sum of merchandise exports and imports divided by the value of GDP, all in current U.S. dollars.
Source:World Trade Organization, and World Bank GDP estimates.

Time required to start a business (days)

There is no data available for this indicator.

Time required to start a business is the number of calendar days needed to complete the procedures to legally operate a business. If a procedure can be speeded up at additional cost, the fastest procedure, independent of cost, is chosen.
Source:World Bank, Doing Business project (http://www.doingbusiness.org/).

Exports of goods and services (BoP, current US$)

There is no data available for this indicator.

Exports of goods and services comprise all transactions between residents of a country and the rest of the world involving a change of ownership from residents to nonresidents of general merchandise, net exports of goods under merchanting, nonmonetary gold, and services. Data are in current U.S. dollars.
Source:International Monetary Fund, Balance of Payments Statistics Yearbook and data files.

Imports of goods and services (BoP, current US$)

There is no data available for this indicator.

Imports of goods and services comprise all transactions between residents of a country and the rest of the world involving a change of ownership from nonresidents to residents of general merchandise, nonmonetary gold, and services. Data are in current U.S. dollars.
Source:International Monetary Fund, Balance of Payments Statistics Yearbook and data files.