The tiny principality of Monaco, on the French Riviera, has long been known as the “World’s Capital of Luxury”, associated with the utmost in opulence, and, thanks to the absence of income tax, a haven for millionaires and billionaires seeking to live somewhere they can enjoy their financial fortunes to the full.
Covering just half of the surface area of Central Park in New York, Monaco is the richest country anywhere on the globe per capita. Its capital, Monte Carlo, is home to one of the most iconic Formula One races of the season, and the destination attracts a host of wealthy yachters to its harbour each summer in search of fine wine, decadent dining experiences and lavish casinos. And, with some of Europe’s finest luxury hotels and a seemingly endless stream of designer boutiques lining its streets, you don’t have to wander far to see examples of opulence, with expensive supercars cruising past seemingly every few minutes. And up at the palace, you might even catch a glimpse of royalty, with the Prince of Monaco still residing there, just as the principality’s family have since 1257.
There’s no denying that when it comes to the world’s finest luxury destinations, Monte Carlo, and Monaco in general, have been given a run for their money over recent years, with Macao dwarfing the tiny nation when it comes to casino turnovers and Dubai attracting the world’s wealthy with its opulent shopping malls and impressive hotel and restaurant scene.
With a rich history behind it, few destinations have ever earned quite the same level of status as Monte Carlo when it comes to luxury – but is it still the example of opulence it once was?
A new injection of glamour for historic casinos
One of the biggest draws to Monte Carlo for wealthy tourists has always been its historic casinos, which are some of the few that have always maintained a traditional sense of glamour and opulence. But even they have enjoyed something of an uplift over recent years to ensure they keep up with the demands of the world’s wealthy and continue to appeal despite the huge amount of options now available all over Europe and beyond. As a result, high-rollers continue to flock through the doors of the Monte Carlo Casino, Opera de Monte Carlo and the Hotel de Paris Monte Carlo – all of which line the city’s beautiful Casino Square, which has itself been the subject of a recent 2.5 million Euro renovation. The Belle Époque architecture it’s known for has been polished to perfection, while the addition of some new palm trees, a water fountain and a show-stopping mural by artist Anish Kapoor have breathed new life into this iconic part of the city.
When it comes to casino games, Monte Carlo’s most famed establishments continue to offer traditional favourites like Roulette, Blackjack and Poker, but they have also expanded their repertoire to include a host of modern alternatives and numerous slots, which has meant affluent players have never had any reason to look elsewhere.
Reinvented luxury hotels
Monte Carlo is home to some historic luxury hotels that continue to serve up the same level of opulence they always have – and some have been newly renovated in recent years to ensure that they don’t fall a single step behind and are able to maintain their glowing and highly covetable reputations. The Hotel Metropole has been transformed just this year, with French interior architect Jacques Garcia taking the helm of a project that has seen an overhaul of all the guest rooms, the addition of some lavish new suites and a complete redesign of the restaurant and bar. Meanwhile over at the legendary Hotel de Paris, things are looking similarly spruced up, with a spectacular new garden courtyard and a relaxing rooftop wellness, as well as some more new luxury suites all recent additions.
Monte Carlo might be steeped in rich history and known for being home to Monaco’s own royal family, but what keeps it relevant – and opulent – is that it never rests on its laurels when it comes to staying ahead, and its five-star hotels continue to be some of the most highly sought-after in the world. And of course, the invariably impeccable service, which makes guests feel like a million dollars, certainly helps.
A glamorous food and drink scene
Monte Carlo has a long-held reputation as one of the most glamorous destinations in the world for wining and dining, and that’s something else that hasn’t changed. Millionaires and billionaires continue to be spotted sipping Cristal at its bars and clubs, while those who appreciate fine food can be found enjoying a leisurely dinner at the three-Michelin-starred Louis XV, which is headed up by renowned Monegasque chef Alain DuCasse. Elsa – the only Michelin-starred restaurant in the world serving up cuisine made from 100 percent organic ingredients, is another firm favourite, and a further example of how Monte Carlo continues to move with the times.
