376,000 times smaller than Türkiye! They're swimming in wealth
The principality, the world's smallest country after the Vatican, is considered the world's richest thanks to its luxurious lifestyle, tax advantages, and tourism revenues. Its small population and extraordinary concentration of millionaires are seen as the main factors driving its rise.
5.5 TIMES SMALL AT ATATURK AIRPORTMonaco is notable for being approximately 5.5 times smaller than Istanbul's Atatürk Airport. Yet, this small area is home to one of the world's most expensive living spaces.
With property prices in the country exceeding €100,000 per square meter, those wishing to rent a home must prove they have at least €500,000 in a local bank account. This makes Monaco a hub for luxury living.
USES EURO CURRENCYThe country is governed by a constitutional monarchy, headed by Prince Albert II. Monaco, whose defense is provided by France, uses the euro despite not being a member of the European Union.
Tax advantages play a significant role in Monaco's wealth. While there is no income tax (except for French citizens), low tax rates are also offered to companies. This makes Monaco an attractive financial center for global investors and international corporations.
TOURISM INCOME IS ALSO HIGHThe country is also a strong source of tourism revenue, hosting the Monaco Grand Prix every year, one of the world's most prestigious automobile races. Luxury casinos like the Monte Carlo Casino also contribute to the country's tourist appeal.
Monaco stands out not only for its luxury and finance, but also for its science. Active in maritime research, the country is home to the Oceanographic Museum and one of the world's first protected marine habitats.
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