Monaco - Economic development
The government strenuously promotes Monaco as a tourist and convention attraction. A government-financed International Convention Center offers large conference rooms, projection equipment, television and radio recording studios, telex communications, and simultaneous translation into five languages.
Two major development and reclamation projects have been undertaken under Prince Rainier. These are the major landfill and reclamation project at Fontvieille, and the Monte Carlo Bord de Mer. At Fontvieille, the government financed the reclamation of 220,000 sq m (2,368,000 sq ft) of inundated shore, creating a "platform" for residential construction and new port facilities.
The Monte Carlo seashore scheme, also government-financed, involved the relocation of railroad tracks underground in order to create a man-made beach, with a boardwalk and other tourist attractions. The beach lies between two other land reclamation projects: the Larvotto, a sports complex financed by SBM, and the Portier, an entertainment complex developed by the government.
Near the Larvotto the government has reserved a zone for the construction of residential and tourist accommodations. In the 1980s, Monaco concentrated on the development of business tourism, with the construction of the Monte Carlo Convention Center and the International Conference Center.