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The Principality of Monaco (in Monaco: principatu Munegu of), Monaco or in short form, is a country in Western Europe and a municipality of the same name occupy the same land that the state itself ( making it a city-state). Ensconced in the French territory between the towns of Cap d'Ail, Beausoleil and Roquebrune-Cap-Martin, Monaco is situated on the Mediterranean Sea along the Coast Riviera, about twenty miles east of Nice. Independent since 1297, this constitutional monarchy is headed since 2005 by the Sovereign Prince Albert II of Monaco to the Grimaldi dynasty, which is the parent of Rainier III, one of the oldest reigning dynasties in the world. The state now occupies an area of 2 km2 making it the second smallest independent state in the world (the first being the Vatican). At the last census of 2008, Monaco had 32 796 inhabitants. With 16 398 inhabitants per km2, the country's most densely populated in the world. Almost entirely urbanized, the Principality of Monaco enjoys a particularly mild Mediterranean climate and has many luxury hotel facilities. An international event (Grand Prix Formula 1), takes place in most of these attractions throughout the year (Casino de Monte-Carlo, Oceanographic Museum, Palace of Monaco), making it a destination for tourists.