The Billion-Dollar Monaco

Jewel of the Riviera

From the roar of Formula One engines to the hush of hidden gardens, this tiny French province offers a world of contrasts — glamour and serenity, culture and modernity, and stories hidden behind sunsets

Text: Laleh Busheri

Perched upon the edge of the Mediterranean, Monaco unfolds like a fever dream of royalty, racing legends, old money, and Riviera light. It does not reveal itself all at once. It glitters from a distance like an impossible mirage suspended between mountain cliffs and the Mediterranean, but the real seduction begins slowly, somewhere along the winding Riviera roads where the sea flashes cobalt blue through umbrella pines and every curve seems to unveil another impossible view. Long before entering the principality, there is already a feeling that one is approaching a different world altogether. The air changes, the architecture sharpens. The yachts begin appearing like floating palaces. Even the sunlight seems curated.

After spending a week in the south of France, my husband Anand and I went on a road trip. We decided to drive from Eze to the much-spoken-about Monaco, which lived up to our expectations and beyond. This Mediterranean gem is best visited between April and October when the weather is warm, and events are in full swing. The Monaco Grand Prix in May, and the Monaco Yacht Show in September, but be prepared for a larger crowd and higher prices. For quiet times, visit in the shoulder months of April and October. Monaco does not have its own airport, but its nearest major airport is Nice Côte d’Azur Airport, 30 minutes away by car, or 7 minutes by helicopter at a price of 150 USD per head. For ultimate luxury, opt for the helicopter one-way since it offers stunning views of the Riviera. Alternatively, you can hire a taxi or take a bus ride costing between 30-50 USD per head. For Indians, a valid Schengen visa gives you entry into Monaco, and if you plan a road trip from France, there are no immigration checks, and entry into the country is seamless.

Here, I share the best things to explore on your trip and to experience what this beautiful country has to offer. Monaco is the epitome of luxury, elegance and breath-taking coastal views. Nestled around the French Riviera, this glamorous city stays dazzled with its stunning harbour, opulent casino and Grand Prix circuit.

The first glimpse of Monaco often arrives from above. Terraced buildings tumble dramatically down cliffs toward a marina dense with superyachts, each vessel larger and more extravagant than the next. The country itself is astonishingly tiny, smaller than New York’s Central Park, yet every sq. mtr. feels choreographed with precision and extravagance. Monaco is only 2.1 kms, making it the second smallest country in the world after the Vatican. The population is just shy of 40,000 people, and more than half the residents are millionaires, making it the richest country on the planet. This is because Monaco is a tax haven for the wealthy, who pay zero income and capital gains tax, but to become a resident, you must have a minimum of 500,000 euros in the bank, alongside renting or owning a property.  Owing to its tax haven, real estate and hotel prices are eye-watering. Many visitors tend to stay in nearby towns such as Menton, 20 minutes’ drive away, where accommodation is a fraction of the cost. For a truly luxurious experience, stay in the Monte Carlo district, home to the iconic casino. For more budget options, you can stay in the Condamine district, where there are plenty of budget hotels available. In Monaco, where millionaires abound, the atmosphere carries that unmistakable blend of old European aristocracy and contemporary billionaire excess. Ferrari engines hum through narrow streets. Bentleys idle outside Belle Époque hotels. Men in linen jackets sip espresso beneath striped awnings while helicopters descend elegantly toward the harbour from Nice. To get around Monaco, due to its compact size, it is easy to explore on foot, and for larger distances, the city’s bus service is very efficient, and a single ticket costs just under 2 euros, while a day pass is 6 euros, which gives you unlimited rides. Renting an electric bike is another fun way to get around. If you happen to self-drive like us and if you are lucky enough to find a parking slot in a garage, you should leave your car for the day, since it’s impossible to re-find parking.

Yet Monaco is not merely wealth on display. Beneath the polished marble façades and immaculate gardens lies a place shaped by the centuries of survival, ambition and reinvention. The story begins high upon the Rock of Monaco, where François Grimaldi, disguised as a monk during medieval civil unrest, seized the fortress that would become the foundation of a dynasty lasting more than 700 years. Today, the Prince’s Palace still crowns the rocky protruding ridge above the sea, standing not merely as a royal residence but as a reminder that Monaco’s glamour was born from strategy as much as spectacle. Each morning at 11.50, just before noon, visitors gather in Palace Square to watch the Changing of the Guards beneath the Mediterranean sun while church bells echo through the narrow stone lanes of the Old Town. This palace is a historical gem that stands as an emblem of the city. Initially erected in 1191 as a fortress, the palace seamlessly melts various architectural styles, echoing its eventful past.

Perched atop the Rock of Monaco, the palace offers unparalleled vistas of the Mediterranean shoreline. While the palace is home to the current prince of Monaco, visitors can explore the lavish state apartments and step into the Hall of Mirrors while admiring the stunning frescoes. To soak in the views, I highly recommend a snack or a meal at the palace restaurant Montgonfiere overlooking acres of manicured lawns, and enjoy its local cuisine, where the signature dish is beef or fish stew cooked in red wine and herbs. You must make a reservation since it gets very busy. Definitely ask for a window with a view of the Old Town.

Changing of the guards at Palace Square	5-star Hotel de Paris

While walking through Monaco-Ville, it feels worlds apart from the polished intensity of Monte Carlo below. Here, the streets narrow into medieval passageways lined with ochre walls, flower boxes, and tiny cafés where old men linger over coffee and fishermen speak softly in Monégasque dialects. Laundry flutters from shuttered windows above souvenir shops selling postcards of Grace Kelly and Formula One legends. The sea appears suddenly at the end of alleyways, luminous and impossibly blue. Somewhere nearby, church bells drift through the warm air from Monaco Cathedral, also known as Our Lady Immaculate or Nicholas Cathedral, one of the most religious monuments. The construction of this stunning cathedral began in 1875, but it wasn’t started until 1911. The cathedral itself rises in pale stone against the sky, serene and understated compared to the excess elsewhere in Monaco. Inside, sunlight filters softly through stained glass onto marble floors where royalty rests in silence. This is where Grace Kelly married Prince Rainier III in a ceremony that transformed Hollywood fantasy into royal mythology. Even now, decades later, her presence lingers everywhere in Monaco, in photographs, stories, and the enduring elegance that still defines the principality. Today, it is also a final resting place for many former princesses. Visitors step inside speaking in hushed tones, aware that this place remains not merely a monument but part of Monaco’s living history. A visit to the cathedral is free; make sure you dress modestly to honour the sanctity of the place.

Cathedral of Our Lady Immaculate	Grace Kelly and Prince Rainier's Wedding

Just beyond the cathedral, perched dramatically upon the cliffs nearly 90 mtrs. above the sea, stands the Oceanographic Museum, one of Monaco’s most extraordinary treasures. Founded by Prince Albert I, the Prince of the Seas, it opened in the early 20th century. The museum appears almost suspended above the Mediterranean itself, its grand façade emerging directly from the rock face. Inside are aquariums glowing with jellyfish, coral reefs, and deep-sea creatures, alongside the scientific legacy of Jacques Cousteau. Yet perhaps the museum’s greatest gift lies outside on its terraces, where the Riviera stretches endlessly into haze and sunlight, and the sea below crashes against the cliffs with hypnotic rhythm, while you sip a hot chocolate or enjoy a light snack at the terrace café.

Still, Monaco’s true theatre begins after sunset…

As evening falls, Monte Carlo transforms into something cinematic. The polished façades of grand hotels glow amber beneath chandeliers and floodlights. Luxury boutiques in Carré d’Or shimmer behind glass displays of diamonds and couture gowns. Outside the Casino de Monte Carlo, arguably the most famous casino in the world, featured in many James Bond films and other pop culture phenomena, crowds gather not to gamble, but to watch the nightly procession of wealth arrive. Rolls-Royces glide silently onto the square. Lamborghinis roar theatrically past marble fountains. Men in tuxedos and women in silk gowns ascend the casino steps as if entering an opera. The casino itself remains the soul of Monaco’s mythology. Built more than 160 years ago, opened by Prince Charles III, during a period when the royal family faced financial uncertainty, it transformed Monaco from a struggling town into one of the world’s most glamorous destinations. There is delicious irony in the fact that gambling was once disguised as a “health spa” to avoid criticism from the Church; interestingly, citizens of Monaco were not allowed to gamble, and they still cannot enter the casino gambling rooms, as laws were introduced to protect residents from the potential harms of gambling. Today, beneath gilded ceilings and frescoed halls, the atmosphere still carries echoes of Europe’s aristocratic past. The chandeliers glow softly against polished gold interiors while roulette wheels spin beneath watchful portraits. Somewhere in the distance, one almost expects James Bond himself to emerge from the shadows. Visitors can enter the lobby for free, while entry inside requires a ticket of 20 euros, which can later be used as gambling credit.

Outside the casino, highly recommended is a pause and bite at the Café de Paris which spills onto the square with immaculate Riviera confidence. Waiters in crisp uniforms move effortlessly between tables carrying oysters, champagne, prawn tempuras, freshly squeezed orange juice, and tiny cups of espresso. The people-watching here feels almost competitive. Supermodels stroll past retired industrialists. Influencers photograph themselves beside Ferraris. Yacht owners negotiate over lunch while tourists stare openly at the spectacle unfolding around them. Monaco understands performance better than almost anywhere else in the world, and nowhere is that performance more visible than here.

The most dine-at spot	Beef stew with a view	Salade Nicoise

Down at Port Hercules is the harbour known as the beating heart of the city’s lifestyle and home to impressive, luxurious yachts and prestigious events like the Monaco Yacht Show. The Marina pulses with another form of extravagance. Yachts tower above the docks like floating apartment buildings, complete with helipads, swimming pools, and mirrored glass. Some belong to royalty, others to tech billionaires or Formula One team owners. The biggest boat in the harbour is Lawrence Stroll’s Faith, 96 mtrs. long and worth more than 200 million USD. During the Monaco Yacht Show, the harbour becomes a glittering exhibition of maritime excess, where even the smallest vessels seem larger than mansions elsewhere in the world. Yet there is something undeniably beautiful about the scene at dusk, when the masts sway gently against lavender skies, and the lights begin shimmering across the water.

And then there is Formula One.

In most cities, racing circuits exist outside urban life. In Monaco, the race consumes the city itself. The Monaco Grand Prix is the most awaited event on the calendar, where the whole country stops for the weekend. For motorsport enthusiasts, it is a must-see. While the race is the main action, the circuit itself is iconic, where visitors can walk freely, feeling the history of the race and grandeur of the event, which brings luxury, pulsating excitement and a taste of elite motorsport racing. This world-renowned race track snakes through ordinary streets, around impossibly tight corners, beneath balconies, and beside cafés where tourists sip coffee during the rest of the year. To walk the circuit is surreal. One moment you are climbing the steep incline toward Casino Square, the next you are standing beside the famous tunnel where engines scream at terrifying speed during the Grand Prix. Even empty, the streets seem charged with memory and adrenaline. Whether you are a fan of racing or love thrilling experiences, the Grand Prix circuit never disappoints.

Monaco Grand Prix...	A place in Formula One

Yet, despite all its glamour, Monaco still offers moments of surprising quietness. Early mornings in the Japanese Garden, where Koi ponds ripple beneath Mediterranean palms. Sunsets from Tête de Chien high above the coastline, where Monaco appears miniature and dreamlike below the cliffs. Long lunches in hidden Old Town bistros where local fish stew arrives fragrantly with herbs and saffron. Breakfast at small organic cafés near Port Hercules while the city awakens around you.

Perhaps, that is Monaco’s greatest achievement. It balances spectacle with intimacy, mythology with authenticity. For all its dazzling wealth, it never entirely loses the feeling of an old Mediterranean principality clinging stubbornly to its cliffs above the sea. It remains at once theatrical and deeply human, ancient and futuristic, impossibly extravagant yet strangely enchanting. By the time one leaves Monaco, winding once more along the Riviera roads toward France or Italy, the principality already feels unreal again, like something imagined rather than inhabited. A tiny kingdom where royalty, racing legends, old money, Hollywood glamour and Mediterranean sunlight continue to coexist in one dazzling sliver of coastline.

I wandered through the enchanting old towns, explored the palace, tried my luck at gambling, soaked up the sun at the beach with Michelin-star dining, made most of the vibrant nightlife and luxurious upscale shopping. Did it all...

On a closing note, if you would like citizenship of Monaco, you need to be married for a minimum of 20 years to a local or have the prince grant you citizenship. Monaco offered an unforgettable experience of sophistication and charm, making one promise oneself to return. Monaco does not merely invite admiration. It invites fascination.

Mouth-watering and fresh	Choux Fleur Grille?	Beef stew in red wine sauce	A dish at La Montgolfiere