Monaco has the world's second highest GDP nominal per capita at US$153,177, GDP PPP per capita at $132,571 and GNI per capita at $183,150. It also has an unemployment rate of 2%, with over 48,000 workers who commute from France and Italy each day. According to the CIA World Factbook, Monaco has the world's lowest poverty rate and the highest number of millionaires and billionaires per capita in the world. For the fourth year in a row, Monaco in 2012 had the world's most expensive real estate market, at $58,300 per square metre.
One of Monaco's main sources of income is tourism. Each year many foreigners are attracted to its casino (where citizens are denied entry) and pleasant climate. It has also become a major banking center, holding over €100 billion worth of funds. The principality has successfully sought to diversify its economic base into services and small, high-value-added, non-polluting industries, such as cosmetics and biothermics.
The state retains monopolies in numerous sectors, including tobacco and the postal service. The telephone network (Monaco Telecom) used to be fully owned by the state; it now owns only 45%, while the remaining 55% is owned by both Cable & Wireless Communications (49%) and Compagnie Monégasque de Banque (6%). It is still, however, a monopoly. Living standards are high, roughly comparable to those in prosperous French metropolitan areas.
Monaco is not a member of the European Union. However, it is very closely linked via a customs union with France and, as such, its currency is the same as that of France, the euro. Before 2002, Monaco minted its own coins, the Monegasque franc. Monaco has acquired the right to mint euro coins with Monegasque designs on its national side.
The plan for casino gambling was mooted during the reign of Florestan I in 1846. Under Louis-Philippe's petite-bourgeois regime, however, a dignitary such as the Prince of Monaco was not allowed to operate a gambling house. All this changed in the dissolute Second French Empire under Napoleon III. The House of Grimaldi was in dire need of money. The towns of Menton and Roquebrune, which had been the main sources of income for the Grimaldi family for centuries, were now accustomed to a much improved standard of living and lenient taxation thanks to Sardinian intervention and clamored for financial and political concession, even for separation. The Grimaldi family hoped the newly legal industry would help alleviate the difficulties they faced, above all the crushing debt the family had incurred, but Monaco's first casino would not be ready to operate until after Charles IIIassumed the throne in 1856.
The grantee of the princely concession (licence) was unable to attract enough business to sustain the operation and, after relocating the casino several times, sold the concession to French casino magnates François and Louis Blanc for 1.7 million francs. The Blancs had already set up a highly successful casino (in fact the largest in Europe) in Bad-Homburg in the Grand Duchy of Hesse-Homburg, a small German principality comparable to Monaco, and quickly petitioned Charles III to rename a depressed seaside area known as "Les Spelegures (Den of Thieves)" to "Monte Carlo (Mount Charles)." They then constructed their casino in the newly dubbed "Monte Carlo" and cleared out the area's less-than-savory elements to make the neighborhood surrounding the establishment more conducive to tourism.
The Blancs opened Le Grand Casino de Monte Carlo in 1858 and the casino benefited from the tourist traffic the newly built French railway system created. Due to the combination of the casino and the railroads, Monaco finally recovered from the previous half-century of economic slump and the principality's success attracted other businesses. In the years following the casino's opening, Monaco founded its Oceanographic Museum and the Monte Carlo Opera House, 46 hotels were built and the number of jewelers operating in Monaco increased by nearly five-fold. By 1869, the casino was making such a vast sum of money that the principality could afford to end tax collection from the Monegasques — a master stroke that was to attract affluent residents from all over Europe.
Today, Société des bains de mer de Monaco, which owns Le Grand Casino, still operates in the original building that the Blancs constructed and has since been joined by several other casinos, including the Le Casino Café de Paris, the Monte Carlo Sporting Club & Casino and the Sun Casino. The most recent addition in Monte Carlo is the Monte Carlo Bay Casino, which sits on 4 hectares of the Mediterranean Sea and, among other things, offers 145 slot machines, all equipped with "ticket-in, ticket-out" (TITO); it is the first Mediterranean casino to use this technology.
Have a pleasant journey!
The team is hoping you have as much fun as we had doing this House Miles's 'GMaps Travel Around' app!
No special setup, here.
Once chosen, just press the 'Route' icon, on your Map Marker, and we'll be more than pleased to draw, on the Map, all possible directions, via bicycle paths & preferred streets, between this Map Marker and Monaco Souvenirs Property!
Take into consideration that Google Maps has to have, on its own database, these bycicle paths declared as so; there's some locations world wide where that does not happen and it's possible you receive a 'zero results' route response on BICYCLING travel mode...
Don't worry! You still can know the surroundings of the Monaco Souvenirs Real Estate!
You can always pick another Map point/Marker or come here and change your travel mode to any other transport means.
No special setup, here.
Route through the best expected traffic condition roads, considering I'll be travelling in
Refine time travel, for the given departure time, considering one of the next road traffic statistics hypotheses:
Final options - we'll take them into account whenever they become real traffic route possibilities:
From this Marker on, I want to arrive to Monaco Souvenirs destination in
If possible, I'd rather travel by
Concerning transportation means combination, please help me to do
We will show you several options, from this Map Marker to Monaco Souvenirs property way, including transportation time-tables, which parts are to be done walking, when and where do you exchange to bus mode, or to a subway, a train, rail, etc.
Mind you cross-country on Public Transportation use is not allowed; will return a 'zero results' route response.
All expressed timings and time-tables are already with GMT adjusted to the local time.
Start by providing us your daily needs/habits; we'll try to find the best and most accurate possible travelling solutions, using local Public Transportation.
The optimized public transportation mix will be calculated in a personalized way, based on the indications you gave to us above - mainly concerning time (you'll be able to access time-tables, travel and arriving times, as well as all the stops, of the advised Public Transportation route to use) and distance: routes can be drawn with more or less Public Transportation transfers, or shorter/longer walking distances.
Keep an eye on the Origin time to start travelling any suggested route!
Given an intended time for the journey duration (to reach the Destination point), if travel takes longer, results to end travel time will still met but you won't make it - time to start the suggested route is already past currrent hour...
Save your travelling mode setup, press 'Draw Route' button, on the Marker window, and get to know the transportation facilities of the neighborhood you'll be living in!
Biased on your daily needs/habits, we'll do our best to REALLY show you around!
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