Economic Overview
Monaco, bordering france on the mediterranean coast, is a popular resort, attracting tourists to its casino and pleasant climate. the principality also is a major banking center and has successfully sought to diversify into services and small, high-value-added, nonpolluting industries. the state has no income tax and low business taxes and thrives as a tax haven both for individuals who have established residence and for foreign companies that have set up businesses and offices. the state retains monopolies in a number of sectors, including tobacco, the telephone network, and the postal service. living standards are high, roughly comparable to those in prosperous french metropolitan areas.
Environmental Issues
Na
Government Type
Constitutional monarchy
Population
32,796 (july 2008 est.)
Location
Western europe, bordering the mediterranean sea on the southern coast of france, near the border with italy
Area
Total: 1.95 sq km
land: 1.95 sq km
water: 0 sq km
About three times the size of the mall in washington, dc
Country Aliases
Conventional long form: principality of monaco
conventional short form: monaco
local long form: principaute de monaco
local short form: monaco
Capital
Name: monaco
geographic coordinates: 43 44 n, 7 25 e
time difference: utc+1 (6 hours ahead of washington, dc during standard time)
daylight saving time: +1hr, begins last sunday in march; ends last sunday in october
International Disputes
None
Sources: Central Intelligence Agency (CIA)
