This is an overview of the economy of Monaco. Monaco, situated on the French coast of the Mediterranean Sea, 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.
Though official economic statistics are not published, year 2011 estimates place the national product at $5.748 billion and the per capita income at $188,409. The unemployment rate is 2%, as of 2012.
Living standards are high and roughly comparable to those in the prosperous French metropolitan areas. Monaco does not publish national income figures; the estimates below are extremely rough....LESS