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I spent 5 days in Monaco. Here’s what life looks like in a land so wealthy it doesn’t even track poverty rates.

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  • Monaco, a tiny city-state on the French Riviera, doesn’t track poverty rates.
  • This is partially because the principality has no income tax, according to the Monaco Statistics agency.
  • But it’s also due to the fact that Monaco is so wealthy that poverty essentially does not exist, two local economists told Business Insider.
  • An estimated one-third of Monaco residents are millionaires, and the per capita GDP is the second-highest in the world; only Luxembourg’s is higher.
  • The country, which is smaller than New York City’s Central Park, hosts glamorous events each year such as the Monaco Yacht Show and the Monaco read more >>>

    Source : BusinessInsider.Com





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