Monaco is the second smallest independent state in the French Riviera, on the Mediterranean Sea. The area is famous as a tax haven and although it does not formally belong to the European Union, Monaco's currency is the euro and it follows the EU limit and the travel laws. Due to the freedom from taxes, the mild climate and the very beautiful shoreline the city-state has been the favorite residence of the rich and famous for a long time. Over the past twenty years major international banks have also started to spread out in the area. Shopping is remarkably expensive in Monaco, but almost all well-known fashion brands are present here. Accommodation is also expensive, but among the dinning possiblities are also cheaper alternatives, especially close to the beach.
Monthly Weather Conditions
More information: Monaco forecast and weather conditions monthly
Compared to prices worldwide, Monaco is an expensive destination.
On a tight budget, the daily budget is approximately $90.97, which includes hostel accommodation, budget meals and public transportation.
On a moderate budget, the daily budget is approximately $392.28, which includes a moderately priced hotel, meals at moderate priced restaurants and transportation costs.
- Hotel (2 stars): $71.34
- Hotel (3 stars): $95.10
- Hotel (4 stars): $116.22
- Hotel (5 stars): $330.36
- Beer in a restaurant (16 ounces): $8.36
- Meal, McDonalds: $8.81
- Meal, Inexpensive Restaurant: $27.54
Monaco has been classified as extremely safe with security classification 5/5.
Safety index values (higher is better):
- General: 78.0 (better than United states average 48.9)
- Walking alone during daytime hours: 86.8 (better than United states average 69.9)
- Walking alone at night: 82.3 (better than United states average 40.8)
More information: Monaco safety
Things which affect the renting of the car:
- Driver’s license: In the European Union / Schengen a driver's license from an EU country is sufficient, although for North Americans it is recommended to carry a separate international driving license, in addition to the American driving license.
- Direction of traffic: In Europe the traffic is mainly right-handed. The exception is Great Britain, which is left-handed traffic.
- Insurance: In Western Europe, all rental cars include some kind of insurance, so additional insurance policies are often unnecessary (unless you are going to Russia or Eastern Europe).
- Driving abroad: You can drive a rental car almost everywhere within all countries of the European Union / Schengen territory without additional fees. Eastern European countries and Russia are the exceptions and you should always ask the car rental company in advance about the rules.