general view of Monaco & high rise buildings of Monte Carlo marina with millionaires yachts 124694_Monaco
Monaco is a principality governed under a form of constitutional monarchy, with Prince Albert II as head of state. Even though Prince Albert II is a constitutional monarch, he still has immense political power. The House of Grimaldi have ruled Monaco, with brief interruptions, since 1297. The official language is French, but Monégasque, Italian, and English are widely spoken and understood. The state's sovereignty was officially recognized by the Franco-Monegasque Treaty of 1861, with Monaco becoming a full UN voting member in 1993. Despite Monaco's independence and separate foreign policy, its defence is the responsibility of France. However, Monaco does maintain two small military units, totaling 255 officers and men, the Corps des Sapeurs-Pompiers de Monaco, and the Compagnie des Carabiniers du Prince. Economic development was spurred in the late 19th century with a railroad line to France, and the opening of the first casino, Monte Carlo Casino. Since then, the principality's mild climate, splendid scenery, and gambling facilities have made Monaco world-famous as a tourist and recreation center for the rich and famous. However, in more recent years Monaco has become a major banking center holding over €100 billion worth of funds, and has successfully sought to diversify its economy into the services and small, high-value-added, nonpolluting industries. The state has no income tax and low business taxes, and is well known for being a tax haven. Monaco boasts the world's highest GDP nominal per capita at $172,676 and GDP PPP per capita at $186,175. Monaco also has the world's highest life expectancy at almost 90 years, and the lowest unemployment rate at 0%, with over 48,000 workers who commute from France and Italy each day. Monaco in 2011 had the world's most expensive real estate market, at $56,300 per square metre. Monaco has the world's lowest poverty rate, and the highest number of millionaires and billionaires per capita in the world.
Size: 5616px × 3755px
Location: Monaco Monte Carlo Alpes Maritimes. France
Photo credit: © DV TRAVEL / Alamy / Afripics
License: Licensed
Model Released: No
Keywords: buildings, carlo, condamine, fance, fontvielle, french, harbor, harbour, high, la, le, marina, mediterrannee, millionaires, monaco, monte, principality, rise, riviera, rocher, rock, yacht, yachts
