Low business taxes, zero income tax and high living standards have made Monaco a center for a diverse range of major businesses. This tiny principality (it covers under two square miles) has developed strong ties with countries in the European Union and has begun to foster solid relations with countries outside of Europe.
Much of Monaco's allure is rooted in its stunning setting on the Mediterranean Sea and its recreational culture, especially Casino gambling. Monaco's glittering Monte Carlo district is perhaps the world's top see-and-be-seen destination. As a result, Monaco is among the most expensive destinations on the planet.
Nearly half of Monaco's population is ethnic French, while Monegasques and Italians make up a smaller percentage of the people. The official language is French, though many locals (Monegasques) speak a dialect derived from French and Italian. The weather is usually temperate, with hot summers and mild winters. The average annual temperature is 16 C (61 F).
Monaco is a monarchy, ruled by Prince Albert II. The 1919 Treaty of Versailles established a bilateral relationship between France and Monaco, which was expanded by the 1951 convention of friendship and mutual administrative assistance.
Public transportation in Monaco is well developed with bus and railway systems that run to surrounding areas, including the cities of Nice, Cannes, and Antibes. There is no international airport in Monaco; all flights arrive through Nice, France with optional helicopter service into Monte Carlo. Driving is on the right. Hotel rates are high, especially during the peak season. Travelers are advised to make reservations early.
The communications infrastructure is excellent, with the international telephone network connected by cable into the French communications system.
Although the violent crime rate is low, theft is common in Monaco and all along the French Riviera.
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