Monaco profile

Demography and Health

Monaco’s population stands at 38,631 in 2024, underscoring its status as a tiny city‑state with a highly concentrated demographic footprint. The country exhibits longevity with a life expectancy at birth of 86.4 years (2023) and a crude death rate of 21.0 per 1,000 people, alongside a birth rate of 9.44 per 1,000 people. The juxtaposition of a relatively low birth rate with a high life expectancy signals an aging population structure, where a sizable share of residents are older adults. Yet the presence of positive net migration of 110 people in 2024 helps counterbalance natural decline and supports a stable labor pool for the service-based economy. The under-5 mortality rate is low at 2.7 per 1,000 live births, indicating strong maternal and child health outcomes within a high‑income context. In health financing, Monaco allocates 3.4% of GDP to current health expenditure (2022), while government health expenditure per capita, in PPP terms, is a striking 7,595 international US dollars, reflecting substantial public investment in health services relative to its GDP share and population size. The near-universal access to the Internet at 99.1% of the population (2023) supports digital health information, telemedicine, and health administration, illustrating how high connectivity complements strong health outcomes in a wealth‑rich society. Taken together, the demography and health indicators point to an aging, health-secure population underpinned by generous public expenditure and high life expectancy.

Economy

Monaco records an extraordinary GDP per capita of 256,581 current US$ in 2023, the highest in the dataset, signaling a remarkable concentration of wealth and high living standards for residents. Given Monaco’s very small population, this per‑capita metric reflects a service-driven economy with a heavy emphasis on luxury services, finance, real estate, and tourism, rather than large-scale manufacturing. The combination of immense wealth per person and a population of just over 38,000 suggests that total economic output remains modest in absolute size but highly concentrated, with revenue streams likely generated from international capital, gaming, and high-end services. Governance indicators reinforce this interpretation: Government Effectiveness stands at 2.02 (rank 3), Regulatory Quality at 1.35 (rank 22), and Rule of Law at 1.48 (rank 18), all signaling a capable, predictable administrative environment that can support complex service sectors and cross-border activity. Political stability is solid (1.18; rank 13) and Control of Corruption is relatively strong (1.25; rank 27), contributing to a favorable climate for private investment and high-quality public services. The domestic landscape includes a modest patent footprint (5.0 resident patent applications in 2021; rank 93), which aligns with a small market size and a focus on high-value services over broad domestic innovation. Internet usage at 99.1% (2023) further underlines the maturity of Monaco’s digital economy and its capacity to support online financial services, e‑government, and global connectivity. Net migration of 110 people in 2024 points to stable, but not rapidly expanding, human capital—consistent with a closed, selective economy that prioritizes elite services and international mobility over large-scale labor inflows.

Trade and Investment

The dataset provides no direct indicators for trade flows, investment stocks, or balance of payments, which constrains a full assessment of Monaco’s trade and investment posture. Nevertheless, several data points imply a highly open, globally integrated service economy. The extremely high GDP per capita, coupled with a very small resident population, suggests that much of wealth is generated through international services, finance, real estate, and tourism, with wealth repositories and clients often located abroad. The robust governance framework—especially high Government Effectiveness and strong regulatory quality—points to a transparent, predictable environment for cross‑border activity, which is essential for foreign investment and international service provision. The near-universal Internet penetration (99.1%) supports digital financial services and online platforms that underpin global trade in services. The modest patent activity (5.0 resident patents in 2021) is consistent with a small domestic market but does not preclude significant external R&D partnerships or outsourcing, where local entities connect with foreign developers and firms. In sum, while we cannot quantify trade openness or investment inflows from the dataset, the indicators collectively align with a wealth‑driven, service‑oriented economy that relies on international demand, cross-border capital, and a favorable policy context to attract global investment rather than on large domestic production or manufacturing.

Governance and Institutions

Monaco displays strong governance and institutional indicators in the dataset. Political Stability and Absence of Violence/Terrorism score 1.18 (rank 13), while Regulatory Quality stands at 1.35 (rank 22) and Rule of Law at 1.48 (rank 18). Control of Corruption is reported at 1.25 (rank 27), and Government Effectiveness is notably high at 2.02 (rank 3). Taken together, these metrics suggest a stable political environment, credible regulatory frameworks, and a high level of administrative capability. Such governance characteristics are conducive to reliable public service delivery, predictable policy environments for business, and effective implementation of health and social programs. Monaco’s small size and concentrated economic structure can, in some contexts, concentrate political influence and policy decisions, but the combination of high Government Effectiveness and solid rule-of-law indicators points to a governance model that prioritizes efficiency, transparency, and service quality. This governance profile helps explain the strong health expenditure indicators and high life expectancy, as well as the predictable backdrop needed for international financial and service-sector activity.

Infrastructure and Technology

A standout feature in Monaco’s infrastructure is digital readiness: individuals using the Internet reach 99.1% of the population in 2023, indicating near‑universal connectivity that supports online services, digital finance, and electronic governance. This level of connectivity is a key enabler for a high-value service economy and international business operations. In contrast, patent activity among residents is modest, with 5.0 applications in 2021 (rank 93), reflecting Monaco’s small market size and limited domestic innovation output; however, this does not preclude substantial external R&D engagement or utilization of foreign tech and financial infrastructure. The high Internet penetration, combined with strong governance, implies an environment conducive to digital services, fintech, and e-government, while the limited domestic patenting footprint points to a dependency on international collaboration and external knowledge networks. Overall, Monaco’s technological footprint emphasizes readiness and connectivity over large-scale domestic innovation, consistent with its small territorial footprint and wealth concentration in high-end services.

Environment and Sustainability

The dataset does not include explicit environmental indicators for Monaco, such as energy use, emissions, air quality, or resource management metrics. As a result, we cannot draw direct conclusions about Monaco’s environmental performance or sustainability trajectory from these data alone. The economy’s wealth and governance quality suggest potential for robust environmental policy and infrastructure investments, but any assessment would require dedicated environmental indicators. The absence of environmental metrics here highlights a gap between socio-economic indicators and ecological data, underscoring the need for targeted environmental statistics to evaluate Monaco’s sustainability progress alongside its strong health, governance, and digital infrastructure indicators.