Monaco is a sovereign city-state and microstate; located on the French Riviera in Western Europe. It is bordered by France on three sides; one side borders the Mediterranean Sea. Monaco has an area of 2.02 km2 (0.78 sq mi) and a population of 36;371; it is the second smallest and the most densely populated country in the world.

Monaco is a principality governed under a form of constitutional monarchy; with Prince Albert II as head of state. Although Prince Albert II is a constitutional monarch; he wields immense political power. The House of Grimaldi have ruled Monaco; with brief interruptions; since 1297. The official language is French; but Mon間asque; Italian; and English are widely spoken and understood.

Economic development was spurred in the late 19th century with the opening of the country's first casino; Monte Carlo; and a railway connection to Paris. Since then; Monaco's mild climate; splendid scenery; and upscale gambling facilities have contributed to the principality's status as a premier tourist destination and recreation center for the rich and famous. In more recent years Monaco has become a major banking center and has successfully sought to diversify its economy into services and small; high-value-added; non-polluting industries. The state has no income tax; low business taxes; and is well known for being a tax haven. Pictures From History