MONACO

With an area of just 1.97 km² the city-state of Monaco is second smallest country in the world after the Vatican. Known as a tax haven, it is the principal residence of around 30,000 mostly million-dollar earners and top athletes. Monaco is famous worldwide for several reasons: the legendary Casino in Monte Carlo, the annual Monaco Grand Prix in Formula 1 and, of course, Monaco's royals, the Grimaldi family.

In the 19th century Monaco’s coffers were filled with the revenue from the casino; now this is only a small portion. The Principality is financed mainly through tourism, conventions and its rich residents. Monaco has always been a place where the wealthy meet. But its fame and glory only came with Grace Kelly. In 1955 the American actress, who was a style icon in her own time, met the Monegasque prince Rainier III during the Cannes film festival and married him on 19th April 1956. The "wedding of the century" turned the actress Grace Kelly into Princess Gracia Patricia. On 14th September 1982, however, the princess died after a tragic traffic accident the previous day at La Turbie where her youngest daughter, Stéphanie, was also seriously injured. Fortunately, even after her death, Monaco retained the newly acquired fame, glamour and flair.

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