Monaco

Visited: July 1992, July 2023

Duration of visit: 2 days

Capital city: Monte Carlo

Population: 37.000 (2023)

Estimated reading time: 5 minutes

• Luxury, glamour and top end cars all around the city.
• Free parking for the first hour, but the second hour costs 7.00 EUR.
• Superyachts anchored in the marina.
• Casino de Monte Carlo transformed a poor agricultural country to a tax heaven retreat for the reach and famous.
• Reasonable prices in supermarkets.

With an incredible array of gorgeous bistros, elegant buildings, stunning beach and harborside, Monaco has a unique energy and ambience. With close to 40,000 residents, 3,500 of whom live in Monte Carlo, Monaco is the second smallest country in the world, at two square kilometers, after the Vatican City; and the second most densely populated.

What gave Monte Carlo so much publicity?

One of the oldest and the most prestigious Formula One racing events of the year – Monaco Grand Prix since 1929; super luxury apartments; James Bond, who visited the casino in the movie Never Say Never Again in 1983; or the upscale Port Hercule harbor. Probably these are all consequences of tax heaven, where the rich and nasty reach people can hide from tax authorities and spend their money accompanied by other wealthy people.

I visited Monaco for the first time in 1992, when I joined an organized tour that took us to vacations in Lloret del Mar (Spain). On the way home our bus stopped for a few hours in Monte Carlo to appreciate the luxury and wealth that had accumulated in this lavish city. I don’t possess any photos; my memories are limited. I only remember driving through the famous tunnel towards the Portier curve, where formula one cars speed up to 250 kilometers per hour.

In 2023, Monaco is still a fascinating and unique country with a rich history, stunning landscapes, and a vibrant culture. Despite its small size, it is home to a few attractions, luxurious casinos, and a thriving economy. It has probably positioned even better in the last decades with clever development policy of Albert II, Prince of Monaco, who has been reigning the Principality of Monaco since 2005. He appoints the government, which is responsible only to him.

I parked my car in the area of the casino and explored the city on foot. It was a summer day, streets full of tourists that were hoping to spot celebrities, taking photos of the famous buildings and feeding on the wealth that is visible at every turn.

Only standing in front of Casino de Monte Carlo and observing luxurious cars that pass or park in front of Hotel de Paris, quickly brings the impression of the wealth concentrated in such a small area.

Bentley, McLaren-Mercedes, Ferrari, Rolls-Royce, Porsche and Lamborghini are some brands that I remember from the top of the head.

It seemed so surreal that in such a short period of time so many luxury vehicles could be passing by. The situation reminds on an exhibition of the latest, most extravagant car models.

Monaco’s casino was founded when Prince Charles III built his first casino in 1865.  At that time, the principality was a poor agricultural country facing the imminent threat of bankruptcy. It turned out to become so successful that, by 1869, the prince was able to abolish taxation in the principality and, nine years later, replaced it with the still existing extravagant building. The expansion included an opera house and additional, larger gaming rooms.

A brilliant move to create revenues that would save the House of Grimaldi from bankruptcy for the price of giving away the areas of today’s villages of Roquebrune and Menton. The promise that France would build a road and rail-line from Nice to Monaco was part of the package as well.

The citizens of Monaco are forbidden to enter the gaming rooms of the casino, an initiative of Princess Caroline. Good move to protect locals from temptation of gambling.

The Atrium of the casino is free to visitors and I was even able to enter in my shorts and flip flops. The paid tour of the casino was fully booked, so unfortunately, I was not able to explore the rest of the building that also includes opera and ballet. But the Atrium is a beautiful spot to wander around and get a glimpse of the over-the-top opulence. It is not easy to take a photo without selfie-chasing tourists in the background.

There are only two ports in Monaco: huge and glamorous Port Hercule and the charming Port Fontvieille. Located near the commercial and recreational centers, restricted Port Fontvieille can offer berths for only 160 vessels that don’t exceed the size of 30 meters.

Built in a natural bay at the foot of the ancestral rock, Port Hercule is the only deep-water port in Monaco and one of the very few deep-water ports of the French Riviera. When floating concrete pontoons were installed in 2011, the most modern and most practical marina in the western Mediterranean positioned Monaco as the Capital of Yachting. The marina embodies excellence glamour and luxury, welcoming boats, yachts and of course, the most magnificent superyachts and megayachts.

There are no restrictions to walk around the common areas and observe exquisite yachts, rich owners or luxury cars that bring them to their floating homes. I was surprised to spot an area where rather modest motor speedboats parked side by side. They don’t properly fit into Monaco`s postcard.

I didn’t have plans to dine in Monaco, but I rather opted for a street pizza and some drinks that were later shared with my family on a bench in the port. I was expecting much higher prices. The pizza was not bad at all. Apparently, there are some goods available at decent prices, considering the standard of living in the country.

Monaco is a small, but mighty gem, nestled on the French Riviera. With its glamorous reputation, luxurious lifestyle and stunning landscapes, Monaco has not really captivated my heart. A constitutional monarchy with an unconventional system that doesn’t collect income taxes from its citizens, has achieved a legendary status as tax haven for the richest people of the world, the most successful sportsmen and famous celebrities.

I am not convinced that living in Monte Carlo, with plenty of tourists in the search for a photo or handshake with a celebrity, offers a quiet retreat with high quality of living for its residents.

Stunning homes, fancy cars, and fashionable passersby might be an interesting stop for a few hours, but other than that, there is not much to do in Monaco.