Whilst this tiny enclave on the Mediterranean coastline might be renowned for its wealth, glitz and famous residents, as well as being perceived as a tax haven for mega-rich global superstars, it's certainly not as an expensive place as some media outlets would have you believe. I'm a stereotypical, tight Yorkshireman, but I found some perceptions to be a load of old b*llocks.
Yes, accommodation is ridiculously over-priced and the cost of living within the principality boundaries (as opposed to just a few miles outside) can be as much as three times more. A quick internet search shows that typical, bog-standard apartments are on the market from upwards of €10,000,000, but lets face it, buying a residency in Monaco is something which will never affect the ordinary tourist. Personally, I'd want paying a few million euros to live next door to Bono from U2, but that's a different story altogether...
Simply put, Monaco/Monte Carlo is as expensive as you want it to be.
The cost of transport for getting around is virtually non-existent because everything is in such close proximity. If you're travelling in from further afield, the railway station is conveniently-located right in the middle of the principality and, as long as you leave the station via the correct exit, it's then just a 10-15 minute stroll from numerous notable landmarks including the Stade Louis II, Casino Monte-Carlo, Grimaldi Forum, Opera De Monte-Carlo and many others.
Monaco's population is estimated at being just shy of 40,000 - about the same as Cleethorpes though there's obviously one hell of a difference between the two resorts.
If you're a sports fan then you'll already be well aware that the streets of Monte-Carlo are used during the Monaco Grand Prix each year. The most famous feature of the racetrack is arguably the 'tunnel' (pictured below) which links the port area to the Casino Quarter (also near the Grimaldi Forum) and there's a pedestrian path which allows you to walk through the tunnel. Wherever you go, you'll probably see a few dozen expensive cars - whether it's a Lamborghini, Ferrari or Mercedes, you'll never be too far away from one! From a football perspective, Monaco get very modest attendances (usually around 5,000 or so) and their Stade Louis II home feels very eerie and empty at the best of times. However, tickets are really cheap and you'll never have any problems getting hold of them if you want to see a game!
Now here's my tips to do Monaco 'on the cheap' and without breaking your budget...
1) Travel into the principality by train. Yes, you have to pay for the train ride to get from A to B, but it's worth it. Overnight accommodation in Nice (around half-hour away on the train) is much cheaper than in Monaco. Besides, if you have a full day trip, you can see everything there is to offer in that time anyway.
2) Avoid local cafes/restaurants. Okay, so this is a bit subjective and if you really want to spend plenty of money on a meal in a restaurant with a nice view, then absolutely go for it! Otherwise, remember that eating out is expensive wherever you go - and it probably costs more here. You can quite as easily just go to the local McDonalds, spend a snip of the price you'd pay in a restaurant and still get a damn good view as the McDonalds here has a balcony which offers splendid views of the French Riviera. There are also one or two local supermarkets dotted about where you can grab a sandwich from and also save a few quid compared to what you'd spend elsewhere.
3) Stick to your budget. You're in Monte Carlo and even though you're surrounded by wealth, you don't need to spend bucket loads of money trying to fit in. The views cost nothing, walking around and seeing the sights (even if you don't go inside) also costs nothing! Enjoy it!
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