This is the second smallest independent state in the world (after the Vatican ) and is almost entirely urban. Monte Carlo is not the capital of Monaco but a government district. The country is divided into four areas: Monaco-Ville (the old city), the Condamine (port quarter), Monte-Carlo (business and recreation), and Fontvieille (recreation and light industry). With no natural resources to exploit other than its location and climate, the principality has become a resort for tourists and a tax haven for businesses. Monaco is six times the size of the Vatican and still remains the world's most densely populated independent country .