Monaco Culture Monaco is divided into four neighbourhoods: Monaco-Ville, the old original city, which is on a rocky ledge extending into the sea; La Condamine, along the port; Monte-Carlo, the main resort, residential and tourist area and Fontvieille, a newly constructed area on land reclaimed from the sea. French is the official language, but Italian and English are also spoken frequently. Monegasque, a language derived from French and Italian, is spoken the by native residents of Monaco, although only about 22 percent of the population claims direct Monegasque descent. Recent surveys place the permanent population of Monaco at about 30,750. Approximately 20 percent are native Monegasque, 35 percent French, 20 percent Italian, and another 25 percent consist of various other nationalities. Roman Catholicism is the main religion, practiced by 95% of the population. Tourism and related businesses are the main components of the Monegasque economy today. The tourist industry began when the famous casino was opened in Monte Carlo. Banking and financial activities are the second most important factor of the economy. The industrial sector is small but significant and includes pharmaceuticals, cosmetics, flour-milling, and food products. Investment in real estate and business services make up the fourth most important sector of the economy. Foreign companies receive special investment incentives that have led many to open offices in the principality. Monaco does not impose an income tax on its residents and consequently has attracted corporate and individual investment. | |
|
