Monaco is often seen as the playground of the rich and famous. This tiny nation-state squeezed between France and Italy offers travelers some nice beaches, scenic mountains, and historic cities to enjoy.
So what is Monaco famous for? In short, it’s famous for being a tax haven. Businesses and individuals can send their money offshore without paying high taxes. Monaco is home to many luxury brands, including Bugatti and Rolex, casinos, and restaurants, despite its small size.
This blog post explores what makes Monaco such a desirable and unique place to live, work, and play. From its stunning architecture to the wealth of its citizens, Read on to discover what Monaco is famous for!
10 Things Monaco Is Famous For
Monaco is located on the French Riviera, a beautiful coastline that stretches from Nice to Menton.
This small but densely populated country has a lot of personalities! From the Formula One Grand Prix to their Royal Family, here are 15 things you might not have to know about Monaco!
1. Monaco Has A Rich History
The Principality was founded in 1295 by Jean I of Monaco, who declared it an independent state. The Principality’s economy is based on tourism and gambling; its most famous attraction is the luxurious Palace of Versailles. Monaco’s rich history includes a rivalry with France, a distinction as one of the most freedom-loving countries in the world, and close ties to Italy.
2. Monaco Is Home To The Formula 1 Grand Prix
Monaco is home to the Formula 1 Grand Prix, one of world motorsport’s most iconic and prestigious races.
The race is held on a circuit around the Principality’s harbor each year and attracts tens of thousands of spectators. The Monaco Grand Prix has been dubbed ‘the world’s most beautiful race’ and is renowned for its dramatic twists and turns around the harbor.
3. Gardens
Monaco’s most notable attraction is the world-renowned gardens. The gardens were started by the Grimaldi family in 1890 when they took over the country and have continued to grow ever since.
These gardens cover a massive area of land, spreading to over 2 square kilometers of land. The gardens feature beautiful plants, lakes, fountains, statues, and buildings, making them truly unique. It’s not just a place to walk; there are plenty of cafes around where you can sit and enjoy the scenery while sipping on some delicious coffee or eating an ice cream cone.
4. Prince Albert Ii
Prince Albert II, who took over his father’s throne in 2005, is the reigning monarch of Monaco.
He studied law at Harvard before returning to his homeland, where he worked as an investment banker before becoming Prince Regent when his father died in 1993.
5. Street Cars
Unlike most major cities worldwide, no cars are allowed on Monaco’s streets! That means that tourists can explore without worrying about running into traffic or having to deal with parking issues when they return home.
Visitors will also see bicycles, mopeds, and scooters instead of cars while they walk down the narrow cobblestone roads. Tourists should be careful if they want to drive outside Monaco because all vehicles must be left parked in designated areas.
6. Monopoly Game
The board game Monopoly, which has been delighting families worldwide for decades, was invented right here in Monaco! In 1904, Charles Darrow developed what would eventually become one of Hasbro’s best-selling board games while living just outside Paris.
7. Fontvieille District
The Fontvieille district is situated along the Mediterranean coast close to La Condamine-sur-Mer and La Rousse beaches. The neighborhood features three artificial lakes created during World War II when Monaco was bombed six times during World War II due to its location next to Italy’s (then Axis) territory
8. Principality Of Monaco
Monaco is the only remaining independent state in the region, with the others being part of France. This makes it very unusual in a Europe full of nations and commonwealths.
9. Prince Albert’s Coup d’État
In 1962, Prince Albert staged a coup to overthrow his father and seize control of Monaco. This was called the Coup d’État.
10. The Grimaldis
Monaco’s ruling family, the Grimaldis, is one of Europe’s oldest dynasties and has been in power for over 700 years.
11. The Monégasque Culture
Monaco is known for being a tax haven and one of the most expensive places to live in the world. Monaco is also famous for its culture, which includes casino gambling, yachting, and art.
12. The Monégasque People
But it also has a rich culture that includes wine production, opera, and ballet. Monaco is also home to the Royal Monégasque School of Cavalry, one of the few schools worldwide that teach horsemanship using classical methods.
13. The Economy Of Monaco
The Principality also has a prosperous economy that includes several high-tech businesses. In 2012, Monaco had a GDP of $5.3 billion, making it one of the wealthiest countries in the world per capita. The majority of Monaco’s wealth comes from tourism and gaming revenues. The Principality’s financial sector is also highly diversified, with companies such as Credit Suisse and HSBC Holdings having offices. Fishing, wine production, and banking are also important sectors of the Monaco economy. In 2013, the unemployment rate in Monaco was just 2%.
14. Monaco’s Natural Resources
Monaco’s most famous natural resource is its limestone. This hard rock can be found in many areas throughout the country, including Monaco, Monte Carlo, and Cavallo Point. The Principality also has valuable minerals such as germanium, titanium, and beryl.
15. Oceanographic Museum
The Oceanographic Museum offers you the chance to explore undersea life with a little help from some awesome interactive exhibits.
A very good exhibit is the shipwrecked boat, in which you could sit down and enjoy the view of a sunken ship on the ocean floor.
The museum also has a submarine where you can take a ride and see what it’s like to live underwater.
5 Reasons Why Monaco Is Famous
- The people are some of the richest on Earth, with an average annual income of $192,000 per person.
- They have a reputation for being a tax haven, and as a result, people from all over the world come to Monaco to work and live without paying taxes on their income there – that’s one less thing to worry about!
- They’re known for having the world’s most expensive real estate market, so if you’re looking to invest, then Monaco might be just what you’re looking for!
- They also have an excellent healthcare system with universal coverage and extremely high quality care; according to WHO statistics, it ranks number one out of 191 countries with overall healthiness.
- And last but not least, there is something for everyone here; water sports, hiking trails, plenty of culture, and more than 300 days of sunshine every year mean there’s always something new to explore!
Conclusion
Monaco is known for its luxury, but that’s not all it offers. The Principality also boasts a rich history and culture and many of the most beautiful scenery in Europe.
