What makes monaco unique

Come and visit to see for yourself. Home Page News. What Is Monaco Known For? What is Monaco known for? Like Us Facebook. Follow Us Twitter. Here are 15 mind-blowing facts about Monaco, from the number of millionaires who live there to the wildly high GDP per capita. Visit Business Insider's homepage for more stories. Monaco is home to 12, millionaires in less than one square mile.

Almost one in three people who live there is a millionaire. Monaco has one police officer for every residents. Citizens of Monaco, a city famous for its casinos, are forbidden by law from gambling. Monaco has the highest average life expectancy in the world at Monaco has a poverty rate of zero.

Monaco is home to one of the world's most expensive streets, which was once the priciest in the world Loading Something is loading. Officially known as the Principality of Monaco, or the Principaute de Monaco. Location and Geography. This small country is 0. It is the smallest state in the world after Vatican City.

Located on the Mediterranean Sea, Monaco is surrounded by France on three sides. Nice, France, is the nearest large city at a distance of 11 miles 18 kilometers. Monaco is rocky and situated on steep hills that drop off into the Mediterranean. The climate is mild year-round, with an average low temperature of 47 degrees Fahrenheit 8 degrees Celsius and an average maximum high of 78 degrees Fahrenheit 26 degrees Celsius. Monaco is divided into four neighborhoods: Monaco-Ville, the old original city, which is on a rocky promontory extending into the sea; La Condamine, along the port; Monte-Carlo, the main resort, residential and tourist area; and Fontvieille, a newly constructed area on land reclaimed from the sea.

Recent surveys place the permanent population of Monaco at about 30, Approximately 22 percent are native Monegasque, 35 percent French, 18 percent Italian, and another 25 percent consist of various other nationalities.

Roman Catholicism is the main religion, practiced by 95 percent of the population. Linguistic Affiliation. French is the official language, but Italian and English are also spoken frequently. Monegasque, a language derived from both French and Italian, is spoken by native residents of Monaco, although only about 22 percent of the population claims direct Monegasque descent.

The Monegasque flag consists of two equal horizontal bands of red and white: red on top, white beneath. The state seal and emblem of the House of Grimaldi is made up of a shield with red and white diamonds flanked by two monks holding swords pointed upward, with a crown draped with red cloth in the background. Emergence of the Nation. The first inhabitants of Monaco were the Ligurians, an ancient Indo-European tribe.

Monaco was located near an important coastal path that stretched from Spain through southern France and into Italy. The peoples living in this area were eventually absorbed into the Roman Empire and became part of the province of Maritime Alps. With the fall of the Roman Empire, Monaco and the surrounding coastal areas were perpetually attacked by various invaders, including the Saracens, and the native population fled inland.

It was only after the final expulsion of the Saracens in about C. Monaco's recorded history began in when the Ghibellines of Genoa, led by Fulco del Cassello, colonized it after receiving sovereignty over the area from Emperor Henry VI. Attracted by Monaco's strategic location and harbor, the Genoese immediately began to construct a fortress, known as the Rock of Monaco, and a walled city. To attract permanent residents, the Genoese granted land and tax exemptions.

As a result, Monaco quickly became an important city and over the next three centuries was frequently contested by rival political factions.

Although the Grimaldis were expelled in , they returned thirty years later, and the House of Grimaldi has ruled Monaco uninterrupted except from to , when it fell under French rule since then. Charles Grimaldi, known as Charles I, succeeded in reinstating the House of Grimaldi on 12 September and is considered the founder of the principality.

Monaco's sovereignty was officially recognized in by Louis XII in a signed document that also declared a perpetual alliance with the king of France. In Monaco was placed under the protection of Spain for political reasons. This caused long-term financial difficulties for Monaco, since the occupying Spanish military force was entirely supported by the Monegasques. Over the next two hundred years Monaco prospered under France's protection.

However, in July , after the end of World War I, Monaco was placed once again under limited French protection according to the Treaty of Versailles, a relationship that still exists today.

National Identity. The native Monegasques are proud of their country's unique history and position in the world. The name Monaco is believed to derive from the word "monoikos" associated both with the ancient Greeks and the Ligurians.

The coastal road used by the Ligurians later came to be known as "The Road of Hercules. The Monegasque have managed to maintain their traditions, institutions, and dialect through the centuries despite the influence of their much-larger neighbors. This cultural identity is reflected in many of the local festivals and in Monaco's world prominence, which is disproportionate to the principality's size.

However, only a small part of the population, less that 20 percent, can claim direct Monegasque heritage. The majority of the principality's citizens are French or of French descent 47 percent. People of Italian origin make up about 16 percent with the rest of the population consisting of a variety of nationalities.

Ethnic Relations. Monaco has close ethnic ties with France and Italy, and nationals of these countries account for more than half of the population. Some one-quarter of the population consists of people from a variety of other nationalities, reflecting a tolerance of different ethnic groups.

However, immigration is very limited due to the principality's size, and citizenship is not easy to acquire. The steep, rocky hills and narrow coastline have influenced architecture and urban planning in Monaco. Streets are narrow and steep, and buildings must be constructed into the hills in limited amounts of space.

The architecture in general reflects a Mediterranean influence, and local materials, including granite, marble, and terra-cotta tiles, are common. Recent-twentieth-century residential construction included numerous high-rise apartment buildings. Like many Mediterranean communities, Monaco has public squares, and its mild climate is favorable to outdoor living. Many buildings have balconies or terraces that face the sea. Some medieval structures survive in the old fortified city of Monaco-Ville on the Rock, where the royal palace is located.

Monaco's most famous building is the Casino in Monte Carlo, built in and designed by French architect Charles Garnier. Food in Daily Life. Access to fresh, local produce and the sea has led to the development of a local cuisine and appreciation for good food. Monaco has many restaurants, and seafood is featured in many dishes.

Daily eating habits reflect a Mediterranean heritage, and both French and Italian influences can be found in the local recipes.

Breakfast is very small, but lunch and dinner often have several courses. Food Customs at Ceremonial Occasions. Some traditional Monegasque dishes include brandamincium, salt cod pounded with garlic, oil, and cream surrounded by cardoons, edible Mediterranean plants, in white sauce; barba-Giuan, or "Uncle John," stuffed fritters; and fougasses, flat, crunchy biscuits sprinkled with sugared anise seeds and flavored with rum and orange-flower water.

Basic Economy. Tourism and related businesses are the main components of the Monegasque economy today. The tourist industry began when the famous casino was opened in Monte Carlo. Banking and financial activities are the second most important part of the economy. The industrial sector is small but significant and includes pharmaceuticals, cosmetics, flour-milling, and food products. Investment in real estate and business services make up the fourth most important sector of the economy.

Foreign companies receive special investment incentives that have led many to open offices in the principality. Monaco does not impose an income tax on its residents and consequently has attracted corporate and individual investment.

A significant financial services industry has developed as a result. Land Tenure and Property. Due to Monaco's small size, the availability of land and private space has always been limited. Significant economic growth and an increase in population since have greatly augmented this problem, forcing developers to build multistoried structures very close together. An increase in tourism and the necessity for hotels have put an added strain on available space.

Property is expensive both to buy and maintain, but Monaco's real estate business continues to thrive. To create additional space, the Monegasque government has had to find innovative ways to satisfy the demand for construction: the use of land reclaimed from the sea.

The most recent of these is the neighborhood of Fontvieille. Commercial Activities. Business related to tourism accounts for the majority of commercial activities. Hotels, restaurants, shops, gambling, and services related to Monaco's port provide both employment and revenue for the principality.

The real estate business has also become an important commercial concern since Major Industries. Industry did not begin to significantly develop until the s, and consists entirely of light industry, with no obvious adverse effects on other parts of the economy or Monegasque society.

The first industries, which developed at the beginning of the twentieth century, included a brewery, a chocolate factory, and a flour mill. The chemical, pharmaceutical, parapharmaceutical, and cosmetics industries all developed after World War II and today consist of twenty-three separate businesses—many of which are leaders in their sectors in Europe.

Plastics, electronics, printing, textiles, and construction also are significant industries. Recent figures place the estimated value of Monegasque imports at U. Monaco does not publish economic figures including gross domestic product, although recent estimates put it at about U. Exports include a variety of Monegasque products, and imports include agricultural products and manufactured and consumer goods.

Some of Monaco's most important exports include: cosmetics, pharmaceuticals, clothing, small electronics, and paper products. Division of Labor. Of the estimated thirty thousand jobs existing in Monaco, two-thirds of them are held by workers commuting from neighboring French or Italian towns along the coast.

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