'Land of Millionaires' Overcrowded with Tourism

Monaco, the country with the highest number of millionaires and billionaires per capita in the world , is also the country with the highest tourist density in Europe.

Monaco, a tiny country in the southern French Channel, is only about 2 square kilometers in size, making it the second-smallest country in the world after the Vatican. However, the country of about 36,000 people has more than 12,200 millionaires. About one in three people is a millionaire, making it the country with the highest number of millionaires and billionaires per capita in the world, according to Forbes.

While Paris, France is the most visited city in Europe, Monaco is the most densely populated city in the continent, according to the World Tourism Organization (UNWTO). In 2021, the number of tourists visiting Monaco was 10 times higher than the local population, about 360,000 people. Nine out of every 10 people in Monaco are tourists.

A yacht marina in Monaco. Photo: Unsplash — A yacht marina in Monaco. Photo: *Unsplash*

Most visitors to Monaco come from France and Italy. According to Tripadvisor, the principality’s top attraction is the Oceanographic Museum, which houses sharks, turtles, and other marine life. Although Monaco has received many positive reviews, the influx of tourists has caused the country to suffer from overtourism.

Tourist Emily B said that when she visited the Oceanographic Museum, she could not move inside because the crowd was too crowded.

In addition, the Monaco Grand Prix held in May or June every year attracts a large number of tourists from all over the world, also causing Monaco tourism to be overloaded.

The high tourist density leads to an over-demand for accommodation, making accommodation expensive. Overnight visitors often visit Nice, France, a 30-minute train or car ride from Monaco. Nice is also the closest airport.

According to Serbian data provider Numbeo, a cup of cappuccino in Monaco costs around 4 euros (103,000 VND) in the millionaires' paradise. The spending level here is ranked among the most expensive in the world.

Bich Phuong (According to Express UK )

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