International Cost of Living Calculator

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Monaco, Monaco

Monaco, MonacoOfficial Name: Principality of Monaco.

Location: Monaco is in Western Europe, bordering the Mediterranean Sea on the southern coast of France, near the border with Italy.

Climate: Mediterranean with mild, wet winters and hot, dry summers.

Terrain: Hilly, rugged, rocky.

Major Languages: French.

Major Religions: Christianity.

Population: 0.036 Mil (2014 est.).

Economy: Monaco is the second smallest country in the world; only Vatican City is smaller. It is regarded as a tax haven, and many of its inhabitants are wealthy and from foreign countries. One of Monaco's main sources of income is tourism; each year many are attracted to its casino and pleasant climate. Monaco levies no income tax on individuals. The absence of a personal income tax in the principality has attracted to it a considerable number of wealthy "tax refugee" residents from European countries who derive the majority of their income from activity outside Monaco.

Currency: Euro (EUR)

Inflation: -1.62% (2014 est.).

City Description: Monaco is a small sovereign city-state. Monaco is the name of the country as well as the name of its only and capital city.

Cost Of Living

The cost of living for expatriates in Monacoas at 1 July 2014 is very high in comparison to other places in the world.

In Monaco, the cost of each basket, based on each baskets cost of living index (only available to registered subscribers), is categorized follows:
1) Alcohol (where available) & Tobacco: Average
2) Clothing: Very High
3) Communication: Very High
4) Education: Very High
5) Furniture & Appliances: High
6) Groceries: Very High
7) Healthcare: Very High
8) Household Accommodation: Very High
9) Miscellaneous: Very High
10) Personal Care: Very High
11) Recreation & Culture: Very High
12) Restaurants Meals Out and Hotels: Very High
13) Transport: Very High

Monaco is ranked as a minimal hardship location.

Hardship (also know as quality of living) refers to the degree of hardship an expatriate and their family are likely to experience in the host location. Hardship pay is compensation to encourage people to move, in particular to less desirable locations. In determining the amount of hardship premium payable, factors such as economic, political, religious, infrastructure, environment/climate, personal safety, health, education, and transportation factors are considered.

Xpatulator.com provides cost of living information primarily for expatriate pay calculations. From the prices of over 200 products and services in 780 global locations, together with hardship information and the exchange rate we provide the following information to registered subscribers:
-cost of living comparison between any of our 780 world locations
-customised cost of living index for any combination of baskets groups
-cost of living allowance calculation to compensate for cost of living and hardship differences
-expat salary calculation to calculate how much you need to earn to have a similar standard of living when relocating
-international assignment package calculation using the well known build-up approach

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