How rich is Monaco

If you ever visit Monaco it is quite likely that you will run into some celebrity. The sweet abode for riches, Monaco, is famous in the community of big-wigs. The country with an area of mere 2.02 km2 and population of 38,400 is known as a playground for rich and famous. The streets of Monaco remains decorated with luxury cars like Ferrari or Rolls Royce. People easily wear their most expensive fur or extra large diamond ring without being judged as 'showy'. Monaco is a place where rich reside.
The country is known for its casinos, scenic beauty and luxury cars. The posh hotels and penthouse offer a comfortable stay to its visitors. 
A part of Europe, Monaco is the second smallest country in the world. Monaco shares three borders with France and one border with the meridian sea. It is a small piece of land between the meridian sea and mountain Alpes. 
Monaco is a very affluent nation. Monaco has the second highest per capita income in the world. It has a whopping $13,2571 per capita income. Every three out of one is a millionaire in Monaco, thirty percent of the total population has become a millionaire in last two years. The free taxation and luxury in Monaco have attracted a lot of people throughout the world. Every five out of six people in Monaco are foreigners.  
The economy of Monaco:
Monaco is one of the richest countries in the world. It has very less population but the highest number of millionaire and billionaire in the world. The country is fully urban and has an ostentatious lifestyle. The country has an unemployment rate of mere 2 percent and has lowest poverty rate in the world. The reason for such an affluent society? Well, although Monaco is occupying a very small area on the world map but is hardly ignored when it comes to tourism. The country succeeds inattractinga huge number of tourists every year. Its pleasant weather, casinos helps to pour in hundreds and thousands of posh tourists in the country every year. It has emerged as the first vacation choice for people wishing to spend an obscene amount of money on a vacation. 
Although the country registered its presence on world map due it casinos but other factors that play a vital role in its economy are fishery and small yet high value-added industries. 
Casinos:
Casinos in Monaco are centuries old. The idea of starting a casino surfaced during the reign of Louis Philippe. But casino did not get its value till it was sold into the hands of French business tycoon Francois and Louis Blanc.  They started the casino in sea depressed area of Monaco and asked the king to rename the area as Monte Carlo. They reconstructed the whole area, cleared everything that was served as a contrast to the posh casino. It started to operate in 1858.
The then newly constructed railway connection to Paris lead to further blooming of business in the casino. The country's income via tourism sector increases manifolds after the establishment of the casino.