Monaco is the second smallest independent country in the world. Despite its size, it is extremely famous and a popular tourist destination in Europe. Below are some interesting facts about this tiny but incredibly wealthy and unique nation.
1. With an area of only 1.98 km2 and a population of 39,244 as of 2020, Monaco has one of the highest population densities in the world.
This tiny kingdom, located between Italy and France, is considered the second smallest country in the world, just after Vatican City. To put this into perspective, Monaco is even smaller than Central Park in New York (USA) and less than half the size of Hoan Kiem District in Hanoi.
Monaco is the second smallest country in the world after Vatican City.
2. As the second smallest country, Monaco is also the second richest in the world when measured by GDP per capita. The GDP of this nation in 2019 was $166,021, second only to its European neighbor, Liechtenstein.
3. Monaco is a land of millionaires and billionaires, with 32% of its population being millionaires or more. This means that for every three citizens of Monaco, one is a millionaire or billionaire.
According to the Knight Frank Wealth Report, the number of millionaires in Monaco increased by 12% within just five years, from 2013 to 2018. It is considered a promised land for the ultra-rich, with many wealthy individuals from around the globe applying for Monaco citizenship. According to the CIA World Factbook, there are no residents living below the poverty line in Monaco.
4. The average housing price in Monaco is $4,560 per square foot (over 100 million VND).
Housing prices in Monaco are extremely high.
This price is higher than even the most luxurious cities like New York and Hong Kong. To own a one-bedroom apartment in Monaco, buyers must pay at least $1.6 million (approximately 37 billion VND). The average price for apartments ranges from $2.2 million (about 51 billion VND) to $22.3 million (about 517 billion VND). Prices for underground homes are even higher, starting at a minimum of $5 million (around 116 billion VND).
5. There is one police officer for every 100 citizens in Monaco.
Monaco confidently claims to have the best security in the world, with a police ratio of 1 officer for every 100 citizens. The entire country is equipped with a 24/7 security camera system.
6. More than 72% of Monaco’s citizens were born abroad.
According to population statistics, only about 9,259 citizens of Monaco are native, meaning they were born in this tiny kingdom.
7. Citizens of Monaco have the highest average life expectancy in the world.
Not Japan, but Monaco holds the record for the highest average life expectancy at 85.8 years, according to data from the World Bank.
8. Monaco is home to the most expensive street on the planet.
Avenue Princesse Grace in Monaco is the most expensive street in the world.
In 2008, Wealth Bulletin confirmed that Avenue Princesse Grace, located in the heart of the country, is the most expensive street in the world, with an average price of $17,750 per square foot (around 412 million VND).
This street is famous not only for its prime location and bustling atmosphere but also for its name, which is dedicated to Princess Grace Kelly— the legendary Hollywood star of the last century. She was the wife of the late Prince Rainier III and the mother of Prince Albert, the current head of state of Monaco. Grace Kelly is always regarded as the one who “promoted” this wealthy tiny kingdom to the world.
