I mentioned in my previous post on Monaco that this tiny country is one of the wealthiest nations in the world, but nowhere can you see a better demonstration of that wealth than in the city's main harbor.
It's located right outside the exit of the central train station so you can't miss it. It's one of the first things that you see upon your arrival.
I recommend taking a stroll along the pier to get a glimpse of the world's smallest coastline and to also get an idea of just how much money is in the city at any given time.
In the harbor you'll see an impressive display of boats and yachts, some of which are really quite massive.
Something that is super interesting about yachts is that each one is unique and named and you can easily look up information on just about any specific yacht. All you have to do is google its name.
For instance, the yacht to the left in the photograph is named Luna B. It has 6 cabins and holds up to 12 guests and 18 crew members, including two chefs. It has an inflatable water slide on board, a grand piano and a cinema that sits 12 people.
Oh and by the way, it also cost $495,000 per week to rent during the high season, plus expenses. Per week! - what!?!
It's mind boggling that that kind of money exists in the world.
Okay, how about the Siran yacht above? It was built in 1992 and costs $50 million USD with an annual operating cost of $2-5 million. I'm guessing it's closer to 5 million today based on current gas prices.
Galaxy of Happiness - 🤣. This thing looks like a bloody spaceship that converts into a submarine or something. To be honest, I was actually impressed by this thing. It was the coolest and most unique looking yacht we saw in Monaco.
Described as an *Eco-friendly super yacht *, this beast of a boat can house 8 people in 3 cabins with 5 crew members in 3 cabins as well. It can reach speeds of 11.5 knots (I think thats roughly 20km/hr) and has a zero emissions cruising feature, which is a pretty cool feature given where the world is going re: global warming and climate change.
This puppy is currently for sale for....
...only $33 million USD. To be honest, given its crazy futuristic look I thought it would be worth more.
On the pier is this large bronze statue called Et Purus. Its a hand on top of the world with its index finger pointed skyward. I thought that it was Monaco's way of subtly telling the world that they are number one.
But in actuality it's a tribute to Swedish Professor Arne Ljungqvist and their fight against doping in sports.
Just off to the side of the harbor is the Monaco Yacht Club. The building is unique in that it is designed to look like a boat.
You can mostly tell from the back but unfortunately I didn't get a very good picture of it. You can just make out the tail of it in the photo above.
The end of the pier provides some good views of the city in all its color and glory and is a nice spot simply for the views.
For all of you NFT collectors out there, apparently Monaco has its own brand of punks. Personally, I'm not at all surprised by this.
There was a fair amount of construction going on in town and I got the impression that the city was always building.
Monaco actually has the lowest rate of unemployment in the world (only 2%), it has the lowest poverty rate and it has the highest per capita rate of millionaires and billionaires.
In 2012 it had the worlds most expensive realestate market at $58,300 per square meter (Holy shit!) and in 2016 the most expensive apartment - a penthouse valued at $335 million.
The country's main source of renevue is tourism but another way that it generates revenue without having income tax is by charging a 1% tax on real estate renting. It is also a major banking center in the world with holdings of over €100 billion euros.
In 2002 Monaco was blacklisted by the Organization for Economic Co-operations and Development (OECD) for being a tax haven that sheltered tax evaders and money launderers. It was removed from the blacklist in 2009 after it complied with the organizations transparency standards.
The photos above and below are of the old town perched up on the Rock, which were the subject of my previous post.
They were taken from the city promanade below, just off to the side of the harbor.
The next two photos are of the ramparts that surround the princes palace.
The next location is located right outside the exit of the Monaco train station.
It's a really nice spot and is literally the first thing that you see upon your arrival in the city.
After a night of gambling, which some people believe is a sin, you can always go and repent inside the small church located there, under the overpass.
That concludes our trip to Monaco city, one of the wealthiest nations in the world. Stop by the harbor and walk the promanade to see some of that wealth in all its glory. Until next time, thanks for stopping by.
I wonder how a normal average Joe could just decide to come to Monaco and find a job as this seems to be a heaven. With such a low unemployment rate, every average Jow would dream about a life here.
Yeah I don't know. The average person would probably have to work in the hospitality industy - a restaurant, hotel or casino. I'm just guessing here. But it seems like a place that would be in high demand so I'm sure there is a lot of competition for more "skilled" labor.
Hmm wouldn't be this a great idea for a reality show, where we could see for real if these rich countries are actually a real chance for a person wanting to change their lives? Uhm anyway I think that any person can access richness if they prime their mind for it.
That would make for a great reality TV show. I'd watch that! 😁
With the right mindset and corresponding action I think a person can do just about anything.
I believe the same thing
What I cant understand is how much time these superyachts spend just sitting around! hundreds of millions just bobbing around doing nothing! Most of them are nothing more that instruments for lowering taxes.
Its not even the anywhere near the most expensive marina in Europe (except for the week of the Grand Prix), that honour goes to the island of Capri.
I believe its about 10 Euros per metre per night but the problem is always booking long enough in advance.
Great photos. I love boats :-)
Yeah I don't know much about it to be honest. I always thought that people owned them but I'm starting to think that a lot of people actually just rent them out, which probably makes more sense really. They are so expensive to take out with cost of the crews and fuel and all that. It's crazy.
That's interesting. How does that work?
Renting them out is called chartering! They are owned through companies and often VAT can be reclaimed and there are many tax deductables in the running costs, including the crews. A company that can afford to buy a yacht must be making vast taxable profits and the yacht is a way to eat into the profits.
Although they can be chartered out as they are actually a business, there is huge, manufactured, over supply which means it rarely happens so again, they are making a loss, again reducing tax liability.
There are teams of specialist accountants and brokers behind each super yacht as well as crew recruiters and management companies controlling operations. It's a very expensive business and their shelf life is surprisingly short, often going in for multi-mullion refits that can take up to 2 years, every 5 to 10 years or when they get sold on.
That's really interesting. Sounds like you know a lot about yachts. Its understandable that they would have such large teams. Thanks for sharing 😁
Wow this is very interesting information.
Half a mill a week!! You are right, there is some crazy money out there both in the owning and the buying of such things!
Yeah, it's insane. I don't know if people generally own these yachts or if they rent them when they want to use them. Either way though the expenses are nuts.
Imagine popping away for a couple of weeks and just dropping a mill for a yacht. I almost can't!
Haha yeah. I can't either.
It would be like buying a house twice a month. You could do it easily with that kind of money.
I thought I didn't read that right, I almost fell out of my chair- $495,000 a week? That's crazy! The pictures of lucky galaxy look unique too, amazing how much money some people spend and can spend on a boat :) It seems like they live on another planet haha
You read it right. It's insane lol.
Well some do live on another planet. This guy lives in the galaxy of Happiness apparently 🤣🤣🤣
The name definitely fits haha :D
It was interesting reading about the affluence beneath the first impression I had on your previous post. Holy cow, the yachts and the real estate!
Yeah the money is crazy there lol.
So good to see 28 awesome views from Monaco. Your travel blog grabbed my attention and this is so beautiful place to be. Blue sky made the city blue and fresh. Loved these images. Sounds you are a pro photographer and you have a high quality device to capture such sharp and clear images.
The photos are actually just taken on my phone but I'm glad you liked them :)
your phone's camera is like dslr camera , which phone you used for these photography? I'm curious to know, thank you!
It's a Samsung. But I also do some light editing with the Google photos app which helps sharpen the images up a bit.
wow great edit, I appreciate, thank you!
😵😲 - this is my face while reading your blog about Monaco City. I literally got dizzy while looking at the stacks of buildings. Also, the cost of those yachts is making my skin itch. This city is a haven for millionaires and billionaires alike.
Yeah the price of the yachts are crazy. Hard to imagine that that kind of money exists in the world.
The amount of money swimming close to the pier of Monaco is kind of crazy. I always knew this subconsciously but reading about it puts it in perspective. Also very nice pictures with the sun and the sea :-)
Yeah there is a lot of money in one small place.
Wow, looks like a serious spot, playground for the rich. I have been to Nice which is close by and travelled all along the coast in the opposite direction, so never made it to Monaco. I'd like to visit someday for the Monaco Grand Prix.
Monaco is a pretty cool city to visit if you ever do go back to that area. The grand prix would be really cool to see.
Thinking about that amount of money make my brain freeze. But the pictures youve taken are amazing, the skies are so clear. It is just beautiful.
Yeah the mo ey there is crazy.
Without a doubt, the city of Monaco has beautiful places to visit, its streets are so beautiful, and the beaches are not to mention, very nice work!
Thanks. Yes it is a very beautiful city indeed.
Monaco as far as I know is one of the richest microstate on the French Riviera and also in the world and from the attached pictures I can see the opulence of the area through those luxury yachts plus you can see that many luxury buildings are being built in the area.
It's a wealthy nation indeed 😁
Wow Monaco is beautiful. I could only dream of sailing on one of those yachts.
You and me both 😁
I have heard about this beautiful city many times, and today thanks to your great photos, I realize that it's truly beautiful. Thank you for sharing!
You're welcome 😊
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Woow amazing pictures🔥
Thanks!
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