Category Social Sciences

               Located on the French Riviera, Monaco is home to the largest number of millionaires and billionaires in the world.

               It is also the world’s second smallest country, with only two square kilometres in total land area.

               Known for its gambling and luxury goods and services industry, Monaco is a favourite playground of the rich and famous, the former drawn by its climate and the beauty of its setting and the latter by its advantageous tax regime.

               In 2014, it was noted that about 30 per cent of the population was made up of millionaires, more than in Zurich or Geneva. The country is a major banking centre that closely guards the privacy of its clients.

               Bordered by France on three sides and on one side by the Mediterranean Sea, the residents of Monaco are mostly French-speaking.

               With a population of over 38,000, Monaco is the world’s most densely populated sovereign state. The most popular annual event is the Formula 1 race, with tracks passing through the city streets.

               Nauru is an island country situated in Micronesia in the Central Pacific. It has 11,347 residents in a 21 square kilometre area.

               Nauru is the third smallest state by area in the world. Nauru is also the world’s smallest island nation, the smallest independent republic, and the only republic in the world without an official capital. Nauruan is the official language, and the Australian dollar is the currency.

               Nauru only has one significant source of income: phosphates from thousands of years’ worth of guano or bird droppings. This proved to be both a boon and a bane for Nauruans – for a long time, its residents enjoyed a high level of income as the country exported its phosphate like there was no tomorrow.

               Nauru is also known as the country with the most obese people in the world. In the early 21st century Nauru agreed to temporarily house hundreds of Australia-bound asylum seekers while they waited for the processing of their applications. In exchange, Australia provided millions of dollars in aid to Nauru.

               Tuvalu, formerly known as the Ellice Islands, is the fourth smallest country in the world. It is located in the Pacific Ocean, about midway between Hawaii and Australia. Tuvalu is a group of nine tiny islands in the South Pacific which won independence from the United Kingdom in 1978.

               Five of the islands are coral atolls; the other four consists of land rising from the sea bed. The closest neighbours are Solomon Islands in the west, Kiribati in north, Samoa in the east, and Fiji in the south.

               The total land area of the islands of Tuvalu is 26 square kilometres. Life on the islands is simple, and often harsh. There are no streams or rivers, so the collection of rain is essential. Copra – dried coconut kernel – is practically the only export commodity.

               The currencies widely used are the Tuvaluan dollar and the Australian dollar. The first inhabitants of Tuvalu were Polynesians. On 5th September 2000, Tuvalu became the 189th member of the United Nations.

               Landlocked San Marino is world’s fifth smallest country. It is a small republic situated on the slopes of Mount Titano, and surrounded on all sides by the Republic of Italy. It is the smallest independent state in Europe after the Vatican City and Monaco and, until the independence of Nauru (1968), the smallest republic in the world.

               San Marino claims to be the oldest surviving sovereign state in the world, and is also one of the wealthiest in terms of GDP per capita. It has a population of only 30,000. The country boasts of one of the lowest unemployment rates in the world.

               Tourism dominates the economy of the 61 square kilometres republic, which plays host to more than three million visitors every year. The official language of the country is Italian. Its capital is the City of San Marino and its largest city is Serravalle.

               The currency of the country is the Euro. The country’s economy mainly relies on finance, industry, services and tourism. It is among the wealthiest countries in the world in terms of GDP (per capita). It is the only country with more vehicles than people!

            A German-speaking country, this is the only nation in the world to be completely located in the Alps.

            Liechtenstein is located between Switzerland and Austria. It is a constitutional monarchy ruled by the hereditary princes of the house of Liechtenstein. The country’s capital is Vaduz. The country has only about 37,000 people in roughly 160.5 square kilometres. There is no airport within its borders. Visitors must go through Switzerland’s Zurich Airport to reach this Alpine country. Liechtenstein has one of the world’s lowest crime rates.

            Liechtenstein has no natural resources of commercial value, and virtually all raw materials, including wood, have to be imported.

            Despite its small size and limited national resources, Liechtenstein is one of the richest countries in the world, on a per capita GDP basis.

            It has developed since the 1940s from a mainly agricultural, to an industrialized country and a prosperous centre of trade and tourism. In 1921, Liechtenstein adopted the Swiss franc as its currency. Tourism is a leading sector of Liechtenstein’s economy.

               Comprising over a thousand flat coral islands of white sand beaches and turquoise lagoons, The Marshall Islands, are immensely luring to tourists as a tropical paradise. The Marshall Islands are located near the equator in the Pacific Ocean. Geographically, the country is part of the larger island group of Micronesia. Majuro is the political and economic centre of the Marshall Islands.

               The Marshall Islands were claimed by Spain in 1592, but were left undisturbed by the Spanish Empire for 300 years. In 1885, Germany took over the administration of the Marshall Islands, and located trading stations.

               At the beginning of World War I, Japan assumed control of the Marshall Islands. During World War II, the United States conquered the islands in 1944.

               The government is the largest employer in the country, employing about one quarter of the workforce. The gross domestic product is derived mainly from US-funded expenditures. The country uses the US dollar as its currency.