| |
Monaco, located on the Mediterranean coast, has an economy primarily geared toward finance, commerce, and tourism. Low taxes have drawn many foreign companies to Monaco; the companiesí production accounts for around 50% of the Ä593 million annual government income (2002). The enterprises pay a 33.33% tax only if more than 25% of their revenue is generated abroad. Ever since Monacoís famed casino opened in 1856, the tourism industry has been booming. It currently accounts for close to 25% of the annual revenue. Customs, postal services, telecommunications, and banking in Monaco are governed by an economic and customs union with France. The official currency is the euro. Though official economic statistics are not published, 2000 estimates placed the national product at $870 million and the per capita income at $27,000. Monaco does not publish the figures for unemployment, but in 1998 the rate was estimated to be at 3.1%. Monaco is noted for its activity in the field of marine sciences. Its Oceanographic Museum, formerly directed by Jacques Cousteau, is one of the most renowned institutions of its kind in the world. Monaco imports and exports products and services from all over the world. There is no commercial agriculture in Monaco. |
Home 
Fields
World Records
World Dictionary
Geographic Names
Fields History
Chiefs of State
Intl. Organizations
Intl. Environmental Agree.
Other References
Notes and Definitions
