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When you think of Monaco, what comes to your mind? Perhaps a tax haven, Formula 1, and Grace Kelly. But this tiny country on the French Riviera hides many more fascinating secrets and some of them might truly surprise you. Let’s dive into 10 amazing facts about Monaco!
While French is Monaco’s official language, and Italian and English are widely spoken, the name of the principality comes from Greek. This is no coincidence—this region was a Greek colony in the 6th century BC. The name derives from the word "Monoikos," meaning "single house" or "solitary house." This is linked to the myth of Hercules, who is said to have built a temple here in his honour. The name of the famous Port Hercules is, therefore, no accident. The Romans later adopted the name of the region, which has evolved into the Monaco we know today.
Monaco, with an area of just 2.1 km², is the second smallest country in the world. Only Vatican City is smaller. Despite its tiny size, the principality has become one of the most famous places in the world. The high demand for property in the region means that luxury villas with pools for sale in Monaco can reach staggering prices.
Although Monaco ranks among the countries with the smallest populations (just over 38,000 people), its small size makes it the most densely populated country in the world. The principality’s population density stands at an astonishing 26,000 residents per square kilometre. Add to that the numerous tourists staying in luxury rentals in Monaco, and it can get quite crowded in this city-state!
Due to its limited space, Monaco doesn’t have its own airport. This is not a major issue as Nice Airport, offering a wide range of international connections, is just 30 km away. However, Monaco has its own heliport, which operates flights between Monaco and Nice. This initiative was launched in 1976 by Prince Rainier III. Interestingly, the helicopter journey takes just seven minutes, compared to about 40 minutes by car or an hour by public transport.
Monaco has been ruled by the same dynasty for over 700 years, making the Grimaldi family the longest-reigning dynasty in Europe. However, they are often excluded from statistics, as Monaco is a principality and not a kingdom. Nevertheless, it is an impressive achievement, especially considering how many powerful European dynasties have disappeared. The current ruler is Prince Albert II, who has been reigning since 2005.
Like many other microstates, Monaco does not have its own standing army. However, this does not mean the country is defenceless. For over 300 years, Monaco has had a special agreement with France, which is responsible for its defence. That said, Monaco does maintain two small military units. The Compagnie des Carabiniers du Prince is tasked with protecting the royal family and judiciary members, while the Corps des Sapeurs-Pompiers is responsible for civil defence and firefighting.
More than 40% of Monaco’s residents are millionaires, making it one of the wealthiest places in the world. This is largely due to the favourable tax laws in the principality. However, Monaco was not always a symbol of wealth and luxury villas. In the 19th century, its population was relatively poor, with most people engaged in fishing. Everything changed in 1865 when the famous Monte Carlo Casino opened, followed by attractive tax laws introduced in 1869.
Monaco’s association with wealth is no coincidence. For decades, the country has boasted a zero poverty rate. This is largely because its tax policies attract wealthy individuals. Additionally, to obtain residency in Monaco, one must prove financial capability. It’s no surprise that renting a luxury villa in Monaco is far from cheap.
Few people know that Monaco is one of the most eco-friendly countries in the world. In 2016, the principality outlawed plastic bags. It has also been actively promoting sustainable living and the use of electric vehicles. Moreover, Monaco has an ambitious goal of achieving carbon neutrality by 2050.
Though Monaco is not a member of the European Union, its currency is the euro. This is due to a special agreement with the EU and France, allowing the principality to issue and use this currency. Monaco’s coins are valid throughout the eurozone, and euros from other countries are accepted in the principality. Due to the relatively small number of coins minted, those bearing Monaco’s heritage symbols are highly valued in the world of numismatics.
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