If it’s luxury you’re after, Columbus Monaco is the best place to stay. Rooms come with CD players and internet access and there is also a decent restaurant, funky bar and, in summer months, a swimming pool. Doubles start at €245 (£150), a bargain for Monaco (23 avenue des Papalins, 00 377 92 05 9000, ). Budget accommodation is harder to find, but two options worth trying are the Hotel de France (6 rue de la Turbie, 00 377 93 30 24 64), with doubles from €84 (£54), or the youth hostel (24 ave Prince Pierre, 00 377 93 50 83 20), with beds from £10.MUST SEEThere are three main areas to aim for. The harbour is Monaco’s heart, and worth seeing up close just to gawp at the yachts.

To one side of this is the pretty, hilltop old town, Monaco Ville, with its villas, narrow streets, ornate Musee Oceanographique (ave St-Martin, 00 377 93 15 36 00; entrance €11 (£7) adults and €6 (£4) children) and Palais du Prince (00 377 93 25 18 31; entrance €6 (£4) adults, €3 (£2) children). For peace and quiet try the leafy Jardins St-Martin, with views over the Fontvielle district and out to sea. To the other side is Monte Carlo, with its swish apartment blocks, fancy restaurants and shops and, of course, the Casino.MUST BUYThe fact that Monaco is largely inhabited by the world’s wealthy (and non tax-paying) elite means that this isn’t a place for bargain hunting. Unless you’re in the market for expensive antiques or designer clothes, you’d do better hopping on a train and heading for Nice instead. Not only does it have better shops and great outdoor markets, but the spectacular train journey along the mountainous coast (25 minutes, around €7.60/£4.80) is a bargain in itself.MUST EATRun by the celebrated French chef Alain Ducasse, Monaco’s finest restaurant, Le Louis XV, is located at the Hotel de Paris and boasts three Michelin stars.

Its star status is reflected in the prices: dinner for two, including wine, will set you back around €390/£250 (place du Casino, 00 377 92 16 2976). Ducasse’s other Monaco restaurant, Bar & Boeuf, was designed by Philippe Starck and is equally popular although it’s further out of town (Sporting d’Ete, ave Princesse Grace, 00 377 92 16 6060). A more reasonable option is Zebra Square, a sleek, modern bar and restaurant (Grimaldi Forum, 10 avenue Princesse Grace, 00 377 99 99 2550) Dinner here costs around €93/£60 for two. For less minimal surroundings head to Il Terrazzino (2, rue des Iris, 00 377 93 50 2427), a small Italian restaurant where three courses cost around €78/£50 for two.INTO THE NIGHTMonte Carlo casino is the obvious choice, although unless you really want to gamble it’s not great entertainment.