Forgotten World (220): Monaco
Monaco is the second-smallest independent state in the world (after the Vatican City). It is a playground for tourists and a haven for the wealthy, the former drawn by its climate and the beauty of its setting and the latter by its advantageous tax regime.
The country – a constitutional monarchy – is surrounded on three sides by France and occupies just under two square kilometres (0.75 sq mile) of the Cote d’Azur, where the Alpes Maritimes meet the Mediterranean. The population is a mere 30,000.
Tourism drives Monaco’s economy; gamblers flock to the Place du Casino in Monte-Carlo, and every May the principality hosts the Monaco Grand Prix. The country is a major banking centre and closely guards the privacy of its clients.