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Thursday, January 15, 2009


Although the second-smallest independent state in the world, Monaco benefits from an excellent climate and beautiful settings on the Côte d'Azur. From the heights of the Tête de Chien or Mont Agel, or from lower down from the Moyenne-Corniche at the level of the entrance to the Jardin Exotique, there are a number of panoramic viewpoints looking out over exceptional scenery. Gamblers flock to the Place du Casino in Monte-Carlo and every May the principality hosts the renowned Monaco Grand Prix. Monaco is also well located for exploring both Provence, the French Riviera and Italy.In the main harbour, expensive luxury yachts and boats, which are a permanent fixture, corroborate Monaco's reputation as a glamorous destination for the rich and famous. Monaco's pleasant climate, reputation and environment as well as the absence of income or inheritance tax and lack of financial reporting requirements all contribute to this situation. Tourism is also a major source of revenue, contributing about 25% of government revenue, as well as being the mainstay of local retail