Monaco has been famous for attracting wealth and titled tourists since its gambling casino was established at Monte Carlo in 1856. However, gambling now accounts for only about 3.3% of state revenue. Among the many attractions are the Louis II Stadium, the many museums and gardens, and the beach. The Monte Carlo opera house was the site of many world premiere performances, including Massenet's Le Jongleur de Notre Dame (1902) and Don Quichotte (1910), Fauré's Pénélope (1913), and Ravel's L'Enfant et les sortilèges (1925). It was also the home of Serge Diaghilev's Russian Ballet (founded in 1911), later known as the Ballet Russe de Monte Carlo.
The principality has excellent sports facilities. The Monte Carlo Rally, a world-famous driving championship, ends with a finish line in Monaco.
No restriction is placed on the entrance of persons from France into Monaco. Those remaining for longer than three months or who plan to work or conduct a business in Monaco must apply to the police for an identity card.
In 2000, approximately 300,000 visitors arrived in Monaco. The principality had 2,240 hotel rooms that year with an overall occupancy rate of 72%.
In 2001 the US government estimated the cost of staying in Monaco at between $226 and $269 per day.