Monaco

Monaco is a principality located in Western Europe along the Mediterranean Sea on the southern coast of France, near the border with Italy, covering an area of just 2 square kilometers, making it one of the smallest countries in the world. As of 2025, Monaco has a population of about 32,000, with French as the official language alongside English, Italian, and Monegasque. The country is hilly, rugged, and rocky, with a Mediterranean climate of mild, wet winters and hot, dry summers. Monaco City serves as the capital, and the government operates as a constitutional monarchy.

Monaco has a high-income economy with a GDP of $10.43 billion and the highest GDP per capita in the world at $270,100, driven by banking, insurance, tourism, construction, and small-scale industrial and consumer products. The country has no natural resources and is considered a tax haven, attracting wealthy residents and businesses from around the world. Monaco is famous for its casino, the Monte Carlo Grand Prix, and its luxury tourism industry. The economy was negatively impacted by COVID-19 but remains one of the wealthiest places on Earth, with a life expectancy of 86.5 years and 100% urbanization.