One mega-rich European country is also one of the least attractive seaside towns in Europe according to some tourists. Despite being home to a plethora of millionaires, along with their yachts and Bentleys, Monaco is tiny. It is so tiny that its beautiful seaside views are foiled by the number of luxury penthouses competing for a beach-view.
This tiny country bargained for independence from France and is now a member of the UN with its own royal family. It also has “greater deference on the streets than the British royals have managed in decades”, as per The Telegraph. It is also a tax haven. Monaco’s lack of personal income tax and capital gains tax attracts high net worth individuals from around the globe, further increasing demand for luxury goods and services. One Reddit user who lived there for a period called the city “straight up ugly.” They said: “I live close to Monaco and I can tell this city is straight up ugly. People live there because of tax evasion.”
Monaco is the second-smallest country in the world, with a land area of only 2.02 square kilometers. This leads to crowded, ugly conditions in some parts and intense competition and high prices for property.
It’s also a popular destination for luxury tourism, with attractions like the Monte Carlo Casino and the Monaco Grand Prix. The city caters to wealthy visitors, supporting premium pricing across various sectors. Anthony Peregrine continued: “The show, though, runs on wealth and ordinary Joes have, at best, just-tolerated walk-on parts in the never-never-land. You should probably go once but, if you’re like me, you’ll not want to return.”
In its current state, Monaco is home to 37,000 people, crammed into a space less than half the size of Universal Orlando. However, this is all set to change, as a new $2 billion (£1.2 billion) megaproject is underway to expand its territory and reclaim around six hectares (14.8 acres) from the sea using state-of-the-art technology.
164 years ago, Monaco was a much bigger country. However, it gave up 95% of its land in exchange for four million francs and recognition from France of its sovereign state status. Today, it is roughly two miles long and only a mile wide, renowned for the Monte Carlo Casino and the Formula 1 Grand Prix, which races through its tight and twisting hairpin bends each year.
Yet, the country has slowly been growing again, to the extent that more than 20% of land has been reclaimed from the sea since 1880. Between 1966 and 1973, the Fontvieille project saw the reclamation of 50 hectares, 25% of the state’s total surface area.
