Interested about the facts about Monaco?
It’s safe to say that Monaco is a country that plays in a separate league.
Monaco is one of the most iconic and mythical countries in the world, and despite being tiny, it has been able to build a reputation for itself and become not only one of the most iconic cities on the French Riviera but also a recognized country all over the world.
That Monaco offers its citizens a zero-income-tax is something that most people know, and there are so many more Monaco facts about the little country that people don’t know about.
There are many interesting facts about Monaco, from how it has become what it is today, to the different life that its citizens live.
Monaco is a place out of the ordinary, and being different in so many ways is what has helped Monaco build a name and reputation for itself in the world, despite its tiny size. As the facts about Monaco will reveal, the history of Monaco stretches far back, long before Ferraris and billionaire yacht owners.
Through these Monaco facts, you’ll also learn that there is much more to the country than just the casino, its enormous yachts, and the Formula 1.
Here is a complete list of interesting facts about Monaco so dig in!
Interesting facts about Monaco
Monaco has a total population of 30,645 as of July 2016
Monaco’s total land area is 2.02 sq. km
Monaco is the most densely populated country in the world
Monaco is the second smallest country in the world. This Monaco fact doesn’t reveal however, that Vatican city is the smallest country in the world
In 2015, almost 30% of the population of Monaco was a millionaire. This Monaco fact is similar to the rate of millionaires in Zurich or Geneva
The defense of Monaco is the responsibility of France
With the previous fact about Monaco in mind, Monaco does not have its own major defense force
Monaco Grand Prix is one of the main events which the country hosts every year
The Formula 1 driver Ayrton Senna has won the Monaco Grand Prix 6 times, more than any other race car driver
Ayrton Senna won the Monaco Grand Prix five races/years consecutively between 1989 and 1993
The national flag of Monaco is very similar to the flag of Indonesia and Poland. The only difference is that Indonesia’s flag is longer, and the flag of Poland is white on the top and red at the bottom
Monaco is the only country in the world with a Human Development Index of above 1
Monaco indicated in 2016 an interest in becoming a shareholder in Nice Airport. This is the airport closest to Monaco, and often referred to as Monaco’s airport by Monegasques
Three James Bond films have been shot in the Monte-Carlo Casino. This fact about Monaco is a reason why many James Bond fans want to visit the iconic casino. Considering the pure luxury and beauty the Casino shows, the Casino is a perfect setting for James Bond’s class
James Bond visited the Casino of Monte Carlo in the movies Never Say Never Again, GoldenEye and Casino Royale
Monaco is a premier tourist destination and recreation center
Here’s an interesting fact about Monaco: Casino de Monte-Carlo (Monaco Casino) was opened in Monaco in 1863
The inhabitants of Monaco are called Monégasques
The native inhabitants (Monégasques) are legally not allowed to gamble in Monaco or even visit the casino.
The law that says the inhabitants of Monaco aren’t allowed to gamble or visit the Casino was imposed by the country’s government because they didn’t want its citizens to gamble away their money
The Casino is a great source of income for Monaco and creates a great number of jobs for its residents
Princess Caroline is accredited with establishing gambling casinos in Monaco
Princess Caroline’s establishing of casinos in Monaco supported the House of Grimaldi and saved the country from bankruptcy
As early as 1856, Monaco had gambling tables
Wondering how Monaco generate their revenue?
Here are a few interesting Monaco facts about the economy of Monaco:
Monaco has a zero income tax (this fact about Monaco is probably what the country is most known for)
The state has monopolies in a number of sectors, including tobacco, the telephone network, and the postal service. This helps bring in revenue for the country
The year 2011 estimates identified that the national product of Monaco was $5.748 billion
The per capita income of Monaco was estimated to be $188,409 in 2011
The unemployment rate of Monaco is 2%, as of 2012, but it has frequently been discussed that Monaco might, in fact, have a zero-unemployment rate due to the fact that many of its inhabitants just don’t need to work if they don’t want to, and therefore might make the choice of not working
Monaco does not publish national income figures, therefore, the estimates below are extremely rough
Monaco’s economy is today primarily geared toward finance, commerce, and tourism
Monaco’s economy grew substantially in the late 19th century with the opening of the rail link to France which made it easier for tourists to visit
The low taxes have drawn many foreign companies to Monaco. The Monaco facts reveal that these companies account for around 75% of the $5.748 billion annual GDP income which was estimated in 2011
Tourism accounts for close to 15% of the annual revenue of Monaco
The casino is alluded to in the ABBA song Money, Money, Money
In 2015 consolidated banking assets 8.42 times exceeded the country’s GDP, making banking an enormous sector in Monaco. Quite an interesting fact about Monaco if you ask us!
Before the euro, Monaco used the French franc
Monaco mints its own euro coins
The inhabitants of Monaco pay a 19.6% value-added tax (VAT tax) on all goods and services purchased in the country
Monaco has the world’s third-highest GDP at $115,700 (2015 est.) behind Liechtenstein and Qatar
Back in the days, Monaco’s economy was almost solely dependent on the Casino, but Prince Rainier III made great efforts to diversify its revenue and make the country less dependent on the Casino. Now, the Casino generates only five percent of Monaco’s total revenue
More facts about Monaco
Monaco is part of the Eurozone, but not the EU
Survives solely on the revenue generated by its tourism and casinos
Monaco doesn’t have its own airport, but it does have heliports. From the heliport, you can take the helicopter to Nice airport within a matter of minutes
Monaco is simply too small to have its own airport since an airport in Monaco would take up a large portion of its total size
The heliports of Monaco receive helicopters at an interval of every 20 minutes
Monaco has no commercial agriculture in Monaco. it is 100% urban
The only natural resource Monaco has are fishes
Here’s a surprising fact about Monaco: the country’s population more than doubles as more than 50,000 workers arrive daily from France and Italy
The biggest employer in Monaco is Societe des Bains de Mer (SBM). This company runs the majority of Monaco’s tourism-related activities
Monaco is rated as the most expensive city in terms of real estate prices. A 15 square meter of luxury property can be bought with $1 million USD. That’s an absolutely jaw-dropping fact about Monaco
The price per square meter for buying property is about $53,226
The Oceanographic Museum was built in 1910
The Oceanographic Museum is one of Monaco’s most famous tourist attractions
The crime rate in Monaco is 13.16 which is very low
Here’s an interesting fact about Monaco: The safety of walking alone during the night is 86.84 which is very high
Monaco has more policemen per person than any other country in the world
If you’re a resident of Monaco but aren’t born here, you’re not called a Monégasque, but a Monacoian
In 1956, the American model and actress Grace Kelly and the second child of the Prince of Monaco married. The marriage drew an enormous media attention which helped make the country and improve its reputation
Italy lies to the eastern side of Italy at a distance of 8 kilometers
Monaco has an enormous number of security cameras throughout the principality with the purpose of discouraging criminal activity
The size of Monaco has grown by at least 20% due to land reclamation from the Mediterranean Sea. A new project has also been started in Monaco where a big part of the Mediterranean sea will be turned into land
Education is compulsory for kids between the ages of 6 and 16 in Monaco
Monaco has a higher death rate than the birth rate (2017 est.)
Monaco became a member of the United Nations In 1993
Every year, Monaco welcomes more than 1.5 million visitors each year. If you think about it, this fact about Monaco is absolutely mind-boggling considering its tiny size
Monaco is a city-state and does therefore not have a separate capital
The first industries that developed in Monaco at the beginning of the twentieth century were breweries chocolate factories and flour mills
Monaco has the highest life expectancy in the world if 89.5 years
Surprising fact about Monaco: The natives of the country are in minority
The largest population in Monaco is of the French, followed by Italian and British
AS Monaco FC is Monaco’s national football team
The football team of Monaco plays in the top league of French football, Ligue 1
Monaco’s total area is only 1.24 square miles
Monaco is bordered by France on its North side, South and West, and by the Mediterranean Sea to its East
Monaco has the highest rate of police officers in the world
Monaco is situated in Europe
Monaco benefits from a mild and pleasant Mediterranean climate and averages about 300 days of sunshine a year
The most famous building in Monaco is Prince’s Palace, followed by the Monaco Casino
The Oceanographic Museum is one of the most renowned institutions of its kind in the world
Here’s an interesting fact about Monaco: the natives of Monaco only make up less than a fifth of Monaco’s population
More than half of the country’s population is able to fit into the team’s stadium, Stade Louis II. That’s quite an interesting Monaco fact, to say the least
There’s not one month in Monaco when there aren’t events going on
Monaco is one of the safest countries in the world
At an average walking pace, you can walk across the width of the country from one side to the other in 56 minutes
On 8th January 1297, Monaco gained its independence from the Republic of Genoa
The university in Monaco is called the International University of Monaco
The Grimaldi family has ruled Monaco for more than 600 years since 1297. This was even before Monaco officially became a sovereign state
The house of Grimaldi, the name of Monaco’s ruling house has its name originating from its Genoese founder, Grimaldo
Archeological evidence has found that Monaco has been inhabited for 300,000 years
Marriage is an important part of the Monaco culture. Weddings are held on basis of the traditions of Roman Catholics
Interesting facts about Monaco when it comes to food: barbagiuan, fougasse, socca, and stocafi, are some traditional foods in Monaco
Monaco is a constitutional monarchy/principality
Monaco is ruled by a descendant of Grimaldi family
The ruling house of Monaco is the oldest ruling house in Europe
Up until 2002, a treaty between Monaco and France said that if there were no heirs of the Grimaldi family to rule the country, control of the country would be taken up by France. A new treaty, however, created in 2002, said that should the Grimaldi family leave no heirs, Monaco would still retain its status as an independent nation
How many of these Monaco facts did you know from before?
Were they all complete news? Which of these facts about Monaco did you find the most interesting?
We’d love to hear your thoughts in the comment section below!