Monaco officially the
Principality of Monaco , is a sovereign city-state, located on the French Riviera in Western Europe. Bordered by France on three sides, one side borders the Mediterranean Sea. It has an area of 2.02 km
2 (0.78 sq mi), and a population of 36,371, making Monaco the second smallest, and the most densely populated country in the world. Monaco has a land border of only 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 (5,600 and 1,145 ft). The highest point in the country is a narrow pathway named Chemin des Révoires on the slopes of Mont Agel, in the Les Révoires district, 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. Monaco is known for its land reclamation, which has increased its size by an estimated 20%.
Monaco is a principality governed under a form of constitutional monarchy, with Prince Albert II as head of state. Even though Prince Albert II is a constitutional monarch, he still has 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 defence 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 its first casino, Monte Carlo, and a railway connection to France's capital, Paris. Since then, the principality's mild climate, splendid scenery, and gambling facilities have made Monaco world-famous as a tourist destination and recreation centre for the rich and famous. However, in more recent years Monaco has become a major banking center and has successfully sought to diversify its economy into the 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.
The
Monte Carlo Casino is a gambling and entertainment complex located in Monte Carlo, Monaco. It includes a casino, the Grand Théâtre de Monte Carlo, and the office of Les Ballets de Monte Carlo.
The Monte Carlo Casino is owned and operated by the Société des bains de mer de Monaco, a public company in which the Monaco government and the ruling family have a majority interest. The company also owns the principal hotels, sports clubs, foodservice establishments, and nightclubs throughout Monaco.
