Monaco — formally the Principality of Monaco — is a microstate and constitutional monarchy located along the southern coast of France in Western Europe. Situated on the French Riviera by the Ligurian Sea, a part of the Mediterranean, Monaco lies just a few kilometers from the French–Italian border and is otherwise entirely surrounded by France.
This tiny nation has a reputation for its extremely wealthy population and is widely regarded as a tax haven. Have you ever vacationed here? Or perhaps you’re planning a visit? If so, you’ll definitely want to read these ten fascinating facts about Monaco!
1 Monaco is the second smallest country in the world by area…
Monaco has a population of around 38,000 people (as of 2025) and a total land area of just 2.02 square kilometers. This makes it the most densely populated and second smallest country in the world.
Wondering which nation holds the title of the smallest? That would be Vatican City, also located in Europe. [source]
2 A remarkably large share of the population are millionaires…
Nearly 30% of Monaco’s population were millionaires, according to a 2014 study. This puts the principality on par with cities like Zurich and Geneva in Switzerland. It’s no surprise, then, that all three rank among the most expensive places in the world to live.
By 2018, Monaco was home to 12,261 millionaires. [source]
3 Monaco has served as a filming location for scenes in three James Bond movies…
A total of three James Bond films have shot scenes at the iconic Monte-Carlo Casino. And honestly — why wouldn’t they? The casino is so elegant and luxurious that it attracts hundreds of thousands of tourists every year. What’s even more remarkable is that the casino first opened in 1863.
However, Monaco’s native citizens are not allowed to gamble or even enter the casino. This rule was introduced by the government to prevent locals from losing their money. [source]
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4 The Grand Prix is a major part of the country’s tourism…
The Monaco Grand Prix is one of the most important events the nation hosts each year. The annual race became part of the Formula One World Championship in 1950. Today, it remains the only F1 race that features a tunnel. In earlier days, the tunnel was nicknamed “the Black Hole“, though that name no longer applies since it is now well lit.
Notably, legendary Formula 1 driver Ayrton Senna has won the Monaco Grand Prix six times, more than any other racer in history. [source]
5 Casinos were introduced to save the ruling family from bankruptcy…
Princess Caroline is credited with establishing gambling casinos in Monaco to financially support the House of Grimaldi, the ruling family at the time, and prevent it from falling into bankruptcy. Monaco is also widely regarded as a tax haven, and the principality has long relied heavily on revenue generated from tourism and its casinos. [source]
6 A microstate with massive helicopter traffic…
This tiny microstate has no airports, although it does have several heliports. In fact, Monaco isn’t even large enough to accommodate a full airport. During the high season, the heliports receive helicopters at intervals of every 20 minutes, making air traffic surprisingly busy for such a small country. [source]
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7 No wonder the streets feel crowded…
A surprising fact about Monaco is that the country’s population more than doubles during the daytime, when roughly 50,000 workers arrive—mainly from France and Italy. With this daily influx, it’s no surprise that the tiny principality feels packed to the brim during tourist season. [source]
8 How expensive it is to live in Monaco…
On average, a small one-room apartment in the principality costs around $1.6 million. A “normal” apartment ranges anywhere from $2.2 million to $22.3 million. But true luxury penthouses have sold for over $55 million in this tiny micronation.
And prices continue to rise — since 2018, property values have increased by about 18%. Back in 2017, the average cost of an apartment was roughly $4.5–$5 million. [source]
9 Extremely low crime rates…
Monaco claims to be one of the most secure countries in the world, with a 24-hour video surveillance system that covers the entire principality. In addition, there is one police officer for every 100 residents. This combination results in exceptionally low levels of crime. [source]
10 Monaco has the highest life expectancy in the world…
According to World Bank data, Monaco’s life expectancy surpasses that of San Marino (85 years), Hong Kong (85 years), and Japan (84 years). The principality boasts an average life expectancy of 85.5 years, the highest in the world. [source]
5 Common Questions About Monaco
Yes — Monaco is known for being one of the most expensive places in the world. Hotels, dining, and entertainment tend to be costly, especially in Monte-Carlo. However, budget-friendly options exist in nearby French towns, and many visitors choose to stay there and make day trips into Monaco.
Monaco does not issue its own visas. Entry is determined by French visa regulations, since the principality is accessible only through France. If you can enter France, you can enter Monaco freely.
Monaco is famous for its luxury lifestyle, Monte-Carlo Casino, Formula 1 Grand Prix, stunning marinas, and status as a tax haven. It is also known for its extremely wealthy residents, glamorous events, and breathtaking views of the Mediterranean.
Yes — Monaco is considered one of the safest countries in the world. The principality has a dense police presence and 24/7 surveillance, resulting in exceptionally low crime rates. Many visitors note that it feels safer than almost any other destination in Europe.
In theory, yes — but it is very difficult and very expensive. Monaco requires proof of substantial financial resources, a place to live, and a clean criminal record. Housing costs are among the highest in the world, making residency accessible mainly to high-net-worth individuals.
