|Economy - overview: Monaco, situated on the French Mediterranean coast, is a
popular resort, attracting tourists to its casino and pleasant climate. The Principality
has successfully sought to diversify into services and small, high-value-added,
nonpolluting industries. The state has no income tax and low business taxes and thrives as
a tax haven both for individuals who have established residence and for foreign companies
that have set up businesses and offices. The state retains monopolies in a number of
sectors, including tobacco, the telephone network, and the postal service. Living
standards are high, roughly comparable to those in prosperous French metropolitan areas.
Monaco does not publish national income figures; the estimates below are extremely rough.
purchasing power parity - $870 million (1999 est.)
SOURCE: The World Factbook
Mother Earth Travel > Country Index > Monaco > Map Economy