The Principality of Monaco has a long and fascinating history. It is perhaps best known as being the playground of the world’s rich and famous and iconic destinations, such as the legendary Monte-Carlo Casino. Keep on reading to learn some more fascinating famous facts about the Principality of Monaco.
16 famous facts about Monaco
Monaco fact 1 – Most expensive real estate in the world
An important thing to know about Monaco is that it is home to the most expensive real estate in the world. According to the 2022 Real Estate Observatory Report, published annually by the Monegasque Institute of Statistics and Economic Studies, the average cost of a Monaco property exceeded €50,000 for the first time in 2021, reaching a record-breaking €52,000 per square metre.
Monaco fact 2 – Home to the most expensive road in the world
The most expensive Monaco luxury real estate can be found along the famed Princess Grace Avenue, named after the late American Hollywood actress Grace Kelly, who was married to Prince Rainier III. The Avenue runs along the waterfront in the district of Larvotto, affording residents stunning ocean views and access to some of the city-state’s most lavish offerings.
Monaco fact 3 – Only the Vatican is smaller
Monaco is one of the smallest countries in the world, second only to the Vatican. Its small size means it is also one of the most densely populated, with approximately 18,750 inhabitants per km squared. Monaco currently spans some 0.78 square miles (ongoing land reclamation projects continue to expand its landmass) and has a population of just over 38,000. In comparison, Central Park in New York is 1.31 square miles.
Monaco fact 4 – Hollywood loves the principality
The principality is a popular filming destination. Some of the most recent block busters include the James Bond movies Never Say Never Again and GoldenEye, and the 2010 romantic French comedy Heartbreaker.
Monaco fact 5 – Home to the most iconic F1 Grand Prix
The city-state is home to the legendary Monaco Grand Prix, considered one of the most challenging and exciting Formula One circuits in the world. The race takes place on the streets of Monaco in late May or early June, transforming the principality into a hive of activity.
Monaco fact 6 – Monegasques are a minority in their own country
A little know famous fact about Monaco is that out of nearly a population of 40,000, there are around 9,000 Monegasques nationals, making them a minority in their own country. Other residents are made up of a mix of nationalities, including French, Italian, and British.
Monaco fact 7 – Monaco is home to the world’s most luxurious superyachts
Monaco is considered the epicentre of yachting and is home to some of the world’s most luxurious superyachts moored in iconic Port Hercules. Monaco’s only deep-water port is also home to the annual Monaco Yacht Show, considered the world’s most prestigious yacht show.
Monaco fact 8 – The principality is home to the super-rich
Another famous fact about Monaco is that nearly one in three residents is a millionaire, around 3,000 are multi-millionaires and around half a dozen are billionaires. The world’s wealthiest choose to reside in Monaco thanks to its luxury lifestyle, wonderful year-round climate, superb healthcare system, crime-free environment, political and economic stability, and favourable tax regime.
Monaco fact 9 – Monaco boasts one of the world’s highest GDP per capita
With so much wealth, it will come as no surprise that Monaco boasts one of the world’s highest GDP per capita at around US$173,000.
Monaco fact 10 – Citizens are forbidden from gambling
The Monte-Carlo Casino in Monaco’s famed Golden Square is one of the principality’s most iconic destinations. However, Monegasques are forbidden from gambling and are even prevented from stepping inside the casino. Only non-residents are allowed to gamble in this legendary destination.
Monaco fact 11 – Residents enjoy an ultra-luxurious lifestyle
If you are or wish to become a Monaco resident you will enjoy a luxurious lifestyle thanks to the principality’s lavish offerings. Monaco boasts luxury restaurants, designer boutiques, and lavish resorts and spas.
Monaco fact 12 – It’s home to one of the best restaurants in the world
Monaco is a gastronomic destination, boasting some of the world’s finest restaurants. Le Louis XV – Alain Ducasse at L’Hotel de Paris Monaco is considered one of the best restaurants in the world. Inspired by the French Riviera, diners enjoy a unique gastronomic experience in the restaurant’s elegant Belle Epoque dining room.
Monaco fact 13 – High life expectancy
Monaco’s lavish lifestyle and superb healthcare system mean that the principality boasts the highest life expectancy in the world at 89.7 years. According to Countrymeters, this is significantly above the average life expectancy of 71 years.
Monaco fact 14 – The principality doesn’t have an army
An interesting famous fact about Monaco is that the city-state has no army; instead, France is responsible for its military protection. Despite this, Monaco is considered one of the safest countries in the world, with approximately one police officer for every 100 citizens and state-of-the-art CCTV surveillance.
Monaco fact 15 – It boasts one of the longest-reigning royal families
The house of Grimaldi was founded in 1160, and the Grimaldi family has been the ruling family of Monaco since 1297. Monaco is currently ruled by Prince Albert II, who ascended to the throne after the death of Prince Rainier III in April 2005. He is married to former South African Olympic swimmer Princess Charlene. They have two children, twins Princess Gabriella and Prince Jacques.
Monaco fact 16 – There is no airport
Our last famous fact about Monaco is that it is one of the few countries in the world that does not have an airport. Others include the Vatican City, the Principality of Andorra, and Liechtenstein. Monaco is served by the nearby Nice Cote d’Azur International Airport and the Fontvieille heliport, which provides regular transfers.
To learn more about living in Monaco, including buying or renting a property in the principality, then contact the team at La Costa Properties Monaco today.