While Charles Leclerc of Ferrari is the only Monegasque in the Formula One grid, many other drivers have a residence in Monaco and will enjoy a home race at the Monaco Grand Prix on Sunday.
The traditional event was held in the first F1 season in 1950, while it has been part of the calendar since 1955. However, its future is wide open.
Monaco has a contract to hold F1 races until 2025, but negotiations beyond that will be difficult.
The tradition and the glamour of the Monaco Grand Prix speak in favour of a continued partnership with F1. A win in the principality is considered a prestigious achievement for the driver who manages to overcome the challenges in the narrow street circuit, such as the very close barriers.
Mistakes are punished harshly and precision is required especially in the hunt for pole position. In Monaco, a first place in qualifying usually also means a first place in the race.
"You can feel that your heartbeat is always a little higher in the qualifying (in Monaco) than on any other track. There's a lot of adrenaline," champion Max Verstappen of Red Bull said last year, when he won the race.
The event also gets a great deal of attention due to the presence of top celebrities in the paddock or in one of the huge yachts lined up in Monaco's impressive harbour.
But the biggest problem for the future of the Monaco GP is the lack of excitement on race day. Overtaking is hardly possible due to ever wider cars and the unwillingness of organizers to make changes to the very narrow circuit.
"In the medium and long term, Monaco has to come up with solutions so that we want to come back here," former Haas team principal Günther Steiner said.
With the expansion of F1, there will also be more competition for a spot in the calendar. Monaco has enjoyed financial advantages, paying significantly less entry fees than other venues. But new hosts, such as the United States and Saudi Arabia, are willing to pay a huge amount of money to be a part of the pinnacle of motorsport.