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Monaco
Background:
Economic development was spurred in the late 19th century with a railroad
linkup to France and the opening of a casino. Since then, the principality's
mild climate, splendid scenery, and gambling facilities have made Monaco world
famous as a tourist and recreation center.
Location:
Location: Western Europe, bordering the Mediterranean Sea on the southern coast
of France, near the border with Italy.
Area: total: 1.95 sq km.
Area - comparative: About three times the size of The Mall in Washington, DC.
Land boundaries: Total: 4.4 km, border countries: France 4.4 km.
Coastline: 4.1 km.
Climate and Terrain:
Climate: Mediterranean with mild, wet winters and hot, dry summers.
Terrain: Hilly, rugged, rocky.
Geography - note: Second-smallest independent state in the world (after Holy
See); almost entirely urban.
People:
Population: 32,130.
Ethnic groups: French 47%, Monegasque 16%, Italian 16%, other 21%.
Religions: Roman Catholic 90%.
Languages: French (official), English, Italian, Monegasque.
Government:
Government type: Constitutional monarchy.
Capital: Monaco.
Independence: 1419 (beginning of the rule by the House of Grimaldi).
Economy overview:
Monaco, situated on the French Mediterranean coast, is a popular resort,
attracting tourists to its casino and pleasant climate. In 2001, a major new
construction project will extend the pier used by cruise ships in the main
harbor. The principality has successfully sought to diversify into services and
small, high-value-added, nonpolluting industries. The state has no income tax
and low business taxes and thrives as a tax haven both for individuals who have
established residence and for foreign companies that have set up businesses and
offices. The state retains monopolies in a number of sectors, including
tobacco, the telephone network, and the postal service. Living standards are
high, roughly comparable to those in prosperous French metropolitan areas.
Monaco does not publish national income figures; the estimates below are
extremely rough.
Industries: Tourism, construction, small-scale industrial and consumer
products.
Statistics:
Telephones - main lines in use: 31,027.
Radio broadcast stations: AM 1, shortwave 8.
Radios: 34,000.
Television broadcast stations: 5.
Televisions: 25,000.
Railways: Total: 1.7 km.
Highways: Total: 50 km, paved: 50 km.
Heliports: 1.
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