Travel Reference
In-Depth Information
A graduate of Amherst College, Albert is a bobsled enthusiast who raced in several
Olympics, and an avid environmentalist who seems determined to clean up Monaco's tar-
nished tax-haven, money-laundering image. (Monaco is infamously known as a “sunny
placeforshadypeople.”)Monacoisbigbusiness,andPrinceAlbertisitsCEO.Itsfamous
casino contributes only 5 percent of the state's revenue, whereas its 43 banks—which
offer an attractive way to hide your money—are hugely profitable. The prince also makes
money with a value-added tax (19.6 percent, the same as in France), plus real estate and
corporate taxes.
Monaco is a special place: There are more people in Monaco's philharmonic orches-
tra (about 100) than in its army (about 80 guards). The princedom is well-guarded, with
policeandcamerasoneverycorner.(Theysayyoucouldwinamilliondollarsatthecasino
andwalktothetrainstationintheweehourswithoutaworry...andIbelieveit.)Stampsare
sofewthattheyincreaseinvaluealmostassoonasthey'reprinted.Andcollectorssnapped
up the rare Monaco versions of euro coins (with Prince Rainier's portrait) so quickly that
many Monegasques have never even seen one.
The principality of Monaco has three distinct tourist areas: Monaco-Ville, Monte Carlo,
andLa Condamine.
Monaco-Ville
fills the rockhighabove everything else andisreferred
to by locals as Le Rocher (“The Rock”). This is the oldest section, home to the Prince's
Palace and all the sights except the casino.
Monte Carlo
is the area around the casino.
La
Condamine
is the port (which lies between Monaco-Ville and Monte Carlo). From here
it's a 25-minute walk up to the Prince's Palace or to the casino, or three minutes by loc-
al bus (see “Getting Around Monaco,” later). A fourth, less-interesting area,
Fontvieille,
forms the west end of Monaco and was reclaimed from the sea by Prince Rainier in the
1970s.
