Cruising to MonacoBackgroundEconomic development was spurred in the late 19th century with a railroad linkup to France and the opening of a casino. Since then, the principality's mild climate, splendid scenery, and gambling facilities have made Monaco world famous as a tourist and recreation center. GeographyLocation: Western Europe, bordering the Mediterranean Sea on the
southern coast of France, near the border with Italy Coastline4.1 km Maritime claimsTerritorial sea: 12 nm ClimateMediterranean with mild, wet winters and hot, dry summers TerrainHilly, rugged, rocky Elevation extremesLowest point: Mediterranean Sea 0 m EconomyMonaco, bordering France on the Mediterranean coast, is a popular resort, attracting tourists to its casino and pleasant climate. In 2001, a major construction project extended the pier used by cruise ships in the main harbor. 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. TransportationAirports: none; note - linked to the airport at Nice, France by
helicopter service (2005) Merchant marineRegistered in other countries: 81 (The Bahamas 17, Barbados 1, Georgia 12, Hong Kong 1, Isle of Man 1, Italy 6, Liberia 11, Malta 4, Marshall Islands 8, Norway 3, Panama 9, Saint Kitts and Nevis 1, Saint Vincent and the Grenadines 3, Switzerland 2, Turkey 1, unknown 1) (2005) Sailing Specifics: Ports and terminalsMonaco Other Sailing Destinations in the RegionAlbania - Algeria - Bulgaria - Croatia - Cyprus - Egypt - France - Georgia - Gibraltar - Greece - Israel - Italy - Lebanon - Libya - Malta - Monaco - Morocco - Romania - Serbia and Montenegro - Slovenia - Spain - Syria - Tunisia - Turkey - Ukraine Further Reading
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