What is the main economic activity in Monaco?

What is the main economic activity in Monaco?

Monaco is a popular tourist destination because of its climate and casino. As such, the country relies heavily on the tourism industry to generate revenue. It also charges a value-added tax (VAT) of 20%, stamp duties on documents, and a 33.33% tax on corporations with profits exceeding 25% from offshore sources.

The main economic activity in Monaco is tourism. The principality's warm climate, beautiful scenery, and luxury hotels and casinos make it a popular destination for visitors from around the world. The second-largest economic activity in Monaco is banking and finance. The country's low tax rates and strong financial regulations have made it a popular destination for foreign investment. Finally, Monaco is also home to a thriving luxury goods industry, which includes high-end fashion, jewelry, and automobiles. All of these economic activities contribute to Monaco's status as one of the wealthiest countries in the world.

The main economic activity in Monaco is tourism, driven by its luxurious resorts, casinos, and entertainment attractions.

Major revenue sources include postage stamp sales, liquor and tobacco taxes, and registration fees. The state does not collect income or direct personal or corporate taxes. As a result of these liberal tax laws, numerous international business maintain their headquarters in Monaco.

The main economic activity in Monaco is tourism, particularly in the luxury sector, including casinos and hotels.