Monaco has wealth, fast cars and casinos. A mecca for the rich. The mini country is home to 38,000 people and one in three is a millionaire. It has the highest per capita GDP in the world. The big draw is tax. The principality has no income tax and other tax rates for companies and individuals are exceptionally low. The prospect of keeping hold of most of their wealth has attracted people from over 100 nations. Living standards are high. Since the principality's priority is to attract wealthy individuals to acquire real estate and live and spend in the country, the government uses its economic advantages to improve the quality of life and to combine work and leisure. Indeed, many of the world's rich buy property in Monaco to take advantage of Monaco's tax regime, although they seldom abide by the legal requirement to live 6 months of every year in the country. See also: http://www.nationsencyclopedia.com/economies/Europe/Monaco-POVERTY-AND-WEALTH.html