The economy of Monaco has expanded greatly since the 1980's. To many the entire country has been referred to as a very popular resort, mainly because tourism is such a large part of the economy. Over 600,000 people per year visit this country, adding millions of dollars to their economy. A major company called Societe des Bains de Mer, operated by the government, runs a large portion of Monaco's economy, including things such as casinos, hotels, clubs, and beaches. Although Monaco does not publish factors such as GDP and GDP per capita, it has been estimated that the GDP is $870 million (US), and the GDP per capita is close to $27,000. Although tourism is definitely the biggest industry here, others include construction, chemicals, food products, plastics, cosmetics, and ceramics. Surprisingly enough, postage stamps are also a significant source of income for Monaco as well.

Many international businesses have their headquarters in Monaco because of the low tax rates found there. The economy of Monaco is quite impressive, especially since the country has no natural resources. Another impressive aspect of this country's economy is that the industries found here are QUITE environmentally friendly, especially since Monaco has joined the Kyoto Protocol.
Some individual sources of income for Monaco's economy include the world famous Monaco Grand Prix, boating tours, and the very famous Opera House.
Monaco has used the euro as its official currency since 2001. The standard of living here is quite high, and it has an unemployment rate of only a remarkable 3.1%. Since Monaco does not publish economic factors such as imports and exports, these figures are not available.

One of the casinos in Monte Carlo

MONACO GRAND PRIX