In the mid-nineteenth century, Prince Charles III of Monaco built an elaborate casino in his tiny principality. The building, designed by Charles Garnier, the legendary architect who also built the magnificent Paris Opera, has exquisite frescoes, elaborate bas-reliefs and sculptures, as well as an unforgettable gold and marble atrium. The part of Monaco on which the casino is built, Monte Carlo, was named after Charles III, and has come to symbolize the epitome of the gaming world, a place where wealth, beauty and international sophistication all come together.

Principality of Monaco

The Principality of Monaco covers less than a single square mile, and about one fifth of this has been reclaimed from the Mediterranean Sea in recent years. Of the principality's approximately 30,000 inhabitants, only about 5,000 are Monegasque, about 12,000 are French and 5,000 are Italian. The rest of its residents represent more than 100 nationalities. There are about 70,000 people living in the French towns and villages adjacent to the principality. The French city of Nice is less than ten miles away, and the Italian border is only about five miles away.

The official language of Monaco is French, although English and Italian are widely spoken. The traditional language of Monaco, "le Monegù", is taught in all local schools, although only older residents tend to speak it regularly. Official currency is the Euro.

As a result of its location on the coast, the Principality of Monaco enjoys mild winters and mild, sunny summers. The average temperature is about 60 degrees Fahrenheit. There is rain on fewer than 60 days per year and the sun shines on average about seven hours a day. The temperature of the sea ranges from about 50 degrees F in the winter to more than 80 degrees F in midsummer. Those who enjoy winter sports are able to take advantage of the fact that Alpine ski resorts are only an hour's drive away.

Contrary to popular opinion, the national economy of Monaco is not exclusively based on tourism and gambling; these enterprises represent less than 15 percent of the principality's total revenue. The country is home to many high technology non-polluting industries, including banking and other financial services. Part of the attraction of living in Monaco is that tax on revenue is not applicable to individuals. Although the principality is not a member of the European Economic Community, customs agreements between France and Monaco guarantee that Monegasque products circulate freely throughout Europe.