Monaco

Monaco occupies a mostly rocky strip of land on France’s Mediterranean coast. Monaco has a reputation that belies its size. Millions come to Monaco each year for the beachfront hotels, the yacht harbor, the Opera House, and the famous Monte Carlo Casino. Wealthy residents benefit from no income tax. The House of Grimaldi has ruled since 1297, except between 1793 and 1814—Prince Albert II is the current monarch. Tourism and gambling drive the economy, and it is also a major banking center.