Lying along the Mediterranean and nestled into the French Riviera or Cote d'Azur, the Principality of Monaco is the second smallest country and monarchy in the world behind the Vatican.
Surrounded on three sides by France, Monaco is only 2.
02 km2 (0.
78 sq mi.
) A country with no natural resources, its land border runs 5.
469 km with 2.
829 km of coast.
The population estimate for 2010 is 30,586, however, the Monegasque people are outnumbered in their own land, comprising only 16 per cent of the population behind French nationals at 47 per cent and 21per cent made up of some 125 diverse nationalities.
(The remaining 16 per cent are Italians.
) Every year Monaco plays host to some 1.
5 million tourists, drawn to the warm, dry summers, but most especially to the famous beaches and world class casinos and gaming tables of Monte Carlo.
Gambling has been a national fixture since 1856.
The area was colonised by the Greeks in the 6th century B.
C.
E.
and occupied by the Romans in the 12th century.
In 1215, it became a colony of Genoa with the first ruler from the House of Grimaldi assuming the throne in 1297.
Monaco's proximity to France and its small size have kept it firmly in the orbit of its larger neighbour.
The tiny country was annexed by France in 1793, placed under the protection of Sardinia in 1815, and finally gained independence under French guardianship in 1861.
In 1911, when a constitution was adopted, the Grimaldis gave up their role as absolute rulers.
As a result of the agreements at the end of World War I that are collectively referred to as the Treaty of Versailles, the degree of French protection for Monaco was further lessened, however the principality was occupied by both the Germans and the Italians during World War II.
Emerging from the war years, the popular modern ruler, Prince Ranier III assumed the throne in 1949 and captured the romantic imagination of the world in 1956 when he married the beautiful American actress Grace Kelly.
She became a much-loved figure in the tiny nation and her untimely death in an auto accident in 1982 was a cause for genuine mourning in Monaco and around the world.
By the terms of a newly revised constitution in 1962, Monaco abolished capital punishment, granted women the vote, and formed a Supreme Court to guarantee the fundamental liberties of its citizens.
In 1993, Monaco became a member of the United Nations with full voting rights.
Ill health forced Prince Ranier from the throne, which was assumed by his son, the current ruler, Prince Albert, in 2005.
He presides over a nation with no income tax, which is sometimes used as a tax haven by wealthy "tax refugees," but high social insurance taxes often offset that perceived benefit.
Although not a member of the European Union, Monaco has used the euro as its primary currency since 2002.
In addition to its beaches, gambling, and tourist resorts, the principality plays hosts to the Monaco Grand Prix, one of the most prestigious auto races in the world dating from 1929.
Lying just 18 km east of Nice, the largest city in the French Riviera, and dominated by the impressive Rock of Monaco, the principality has carved a unique position among the nations of the world.
Its high standard of living, reputation as a world-class gambling centre, and host of luxury accommodations and designer shopping venues, make it one of the sparkling gems of the Cote d'Azur.