Monaco, officially known as the Principality of Monaco, is a sovereign city-state on the French Riviera in Western Europe. With an area of only 2.1 km2, it is the second smallest country in the world. Despite its size, it is globally recognised as one of the wealthiest and most expensive places in the world (with the lowest poverty rate – according to the CIA World Factbook). It also has the world’s highest GDP nominal per capita at USD 185,742.
Monaco offers a warm Mediterranean climate with beautiful ski resorts only a two hour drive away. Major sporting, cultural and music events, taking place every year, have contributed to the principality's status as a popular destination for wealthy tourists.