The principality of Monaco lies on the southern Mediterranean Sea coast of France, near the border with Italy, in Southern Europe. It is the second smallest independent state in the world (after the Vatican) and is almost entirely urban. With no natural resources to exploit, other than its location and climate, the principality has become a resort for tourists and a tax haven for businesses.
French is the only official language, but Italian, English, and the two local languages, Monégasque (a descendant of Genoese) and Occitan, are also spoken. The literacy rate is 99%. |