Monaco is the second-smallest country in the world after the Vatican. It is also the most densely-populated sovereign state in the world.
The United States and Monaco have a modest amount of bilateral trade in goods. Monaco has full customs integration with France, which collects and rebates Monegasque trade duties. It also participates in the European Union market system through its customs union with France. Monaco has signed a tax information exchange agreement with the United States.
With its pacific territorial expansion policy, its cosmopolitan population and economic structure made up of small and medium sized companies, highly profitable businesses and high-rise industrial workshops, Monaco’s economic reality sets the example for originality and ingeniousness.
The development of service businesses in the Principality were first and foremost linked with banking and financial operations. Today, we are witnessing a general increase in high-level services, such as management consultancies and professional firms. We are in particular seeing growth in the shipping business with nearly 200 companies. This sector includes shipping brokers and agents, chartering companies, international transporters, cruise lines and marine surveyors. The development of the Hercule port is bound to speed up this growth.
Furthermore, the Principality has a high-quality telecommunications infrastructure. Alongside traditional operator services, Monaco Telecom is developing activities which are turned towards international markets and new technologies. With such excellent infrastructures, we can expect the fast development of services linked to the new economy
Due to its geographic location, Monaco is a dream destination for leisure and business tourism. Tourism represents 11% of the total economic activity. Alongside individual tourism, business tourism accounts for 18% of hotel nights registered. This new type of tourism is perpetuated by a wide range of facilities for business events, such as the opening of the Grimaldi Forum and building projects for several new hotels.
Treaties & Agreements
Monaco became a member of the United Nations in 1993. Monaco and the United States belong to a number of the same international organizations, including the United Nations and Organization for Security and Cooperation in Europe. Monaco also is an observer to the Organization of American States.
Overview of Opportunities in Monaco
Relevant Industries to Focus On
Banking and Financial Services
Maritime and Shipping
Precious Stones and Metals
Travel and Tourism