Tomorrow, Nov. 19, is the National Day of Monaco.

Monaco is a small country in southwestern Europe which lies on the Mediterranean Sea at the foot of the Maritime Alps. Monaco is the second smallest independent state in the world, next to Vatican City, with a land area of just 1.96 square kilometers.

Located just east of Nice on the French Riviera and near the border with Italy, Monaco is one of Europe’s most popular resort areas. Sheltered by the lower slopes of the rugged Alps, Monaco enjoys a Mediterranean climate, with hot, dry summers and mild winters. Tourism is an economic mainstay of Monaco, which is famed for its fine beaches and hotels, its casinos, and the annual Monaco Grand Prix automobile race.

Monaco levies no income tax on individuals. This has attracted to it a considerable number of wealthy “tax refugee” residents from European countries who derive most of their income from activity outside Monaco.

Monaco is highly urbanized, the most densely populated nation in the world. Living standards in Monaco are among the highest worldwide.Tourism and financial services drive the economy. Each year millions of visitors flock to its beaches, four casinos, performing arts venues, boating facilities, and other attractions.

Monaco is a constitutional monarchy and principality, with Prince Albert II as head of state. The House of Grimaldi has ruled Monaco since 1297 and the state’s sovereignty was officially recognized by the Franco-Monegasque Treaty of 1861. Despite being independent, Monaco’s defense is the responsibility of France.

We congratulate the people and government of Monaco led by His Highness, Prince Albert II, and H.E., Minister of State, Jean-Paul Proust, and its Consulate in the Philippines headed by Consul Fortune Aleta Ledesma, on the occasion of its National Day.