Surrounded by France, Monaco lies on the southeast Mediterranean coast, close to the Italian border. For more than 700 years it has been ruled by princes and princesses of the Grimaldi family. Monaco’s people are known as Monegasques, or Monacans. Nearly all are citizens of France—only a few are originally from Monaco. Monaco is a major centre for international business: its low rate of tax makes it an attractive place for companies to set up business and for rich people to take up residence. It is also popular with tourists, who come for its sunny beaches, warm climate and nightlife. The district of Monte Carlo is famous for the Formula One Monaco Grand Prix as well as for its casinos.

Facts about Monaco

Population 38,423 (2024 census)

Area 2 sq km

Highest point Mont Agel 140 m (459 ft)

Languages French, English

Religions Christian (Roman Catholic) 90%, others 10%

Ethnicity French 47%, Monegasque 16%, Italian 16%, others 21%

Chief exports cosmetics, perfumes, clothing

Currency Euro (EUR)