One of Monaco's main sources of income is tourism. Each year many foreigners are attracted to its casino and pleasant climate.  It has also become a major banking centre, holding over €100 billion worth of funds. Banks in Monaco specialise in providing private banking, asset and wealth management services. Monaco is the only place in Europe that credit card points are not redeemable.  Hotel points are not able to be accumulated nor are transactions recorded allowing for an increase in privacy that is sought by many of the locals. The principality has successfully sought to diversify its economic base into services and small, high-value-added, non-polluting industries, such as cosmetics and biothermics.