Everyone is in Europe right now.

Between the Cannes Film Festival, AmfAR Gala, the Mille Miglia, and the Grand Prix de Monaco Historique, it seems as if every star investor, Hollywood ingénue, It Girl model, and party monster seems to have decamped for the 35-mile, sun-drenched stretch between Cannes and Monaco.

The long month abroad swells to its highest point next weekend, when those with true globe-hopping bona fides will converge on the palatial terraces of Monte Carlo for the Monaco Grand Prix. Preliminary rounds start on Thursday; the race runs through the city streets from 2 p.m. to 4 p.m. on Sunday.

This is the premier race on the Formula 1 calendar. It has been held in one form or another since 1929 and in modern form since 1950. With its 78 laps and 19 aggressive chicanes, it is the most technically demanding of any F1 race of the season. And barring possibly the night race in Singapore, it is the most exciting to watch, since Monte Carlo’s race emphasizes chassis nimbleness and driver skill more than the engine power. The fastest cars will complete the two-mile lap around the Monte Carlo circuit in about 75 seconds.

Grace Kelly, Aristotle Onassis, and Elizabeth Taylor spent years attending. More recently, Gigi Hadid, Cara Delevingne, Kendall Jenner, Mark Ronson, and Cristiano Ronaldo have turned into racing fans over the event.

Tickets, of course, aren’t cheap. But they aren’t prohibitively expensive, either. Adults can set foot in the peanut-gallery bleachers that rise high above the far turns of the race for as little as €71 ($79.52; children cost €24). Otherwise, pay as much as you can possibly afford, since you will get the view you pay for.

The top tickets cost €2,799: That places you in a balcony suite above the main straightaway, with views of the entire racing grid as far as the Sainte-Dévote Chapel. The Formula 1 cars will be racing past just a few meters below the balcony ledge, as will be the starting line and Prince Albert II's private box, where the podium ceremony takes place. Champagne and amuses-bouches are included, but of course.

Hotel rooms sell out a year in advance—most attendants have standing reservations year to year—so if you’re late to the game on this, try staying in Nice (13 miles away) and arriving extremely early the morning of the race. (If you arrive later than 7 a.m. or so, the roads will be closed, and you’ll find yourself walking for miles and very likely missing the race.) Airbnb condos in Monaco are another viable option. I’ve done both, with success on each. Better yet, charter a small yacht to park in the water that weekend. Those boats have the prime view, and you can watch the race from your chaise lounge, if you want.

If you do stay in Monaco, leave your car parked somewhere else and rent a Vespa. It’s at least three times faster to get around that weekend, and parking is never an issue. And it’s very attractive to the more adventurous, fun people you hope you meet and befriend during events like this.

It will also help you make friends if you can speak—for a minute or two, at least—about the actual race. This year, everyone will be watching Red Bull Racing, which took the Spanish Grand Prix last week in an upset win. Renault, with a new engine upgrade, and Mercedes, which seems always to do well in Monaco, will also be strong contenders. Ferrari has not won Monaco since 2001, so it’s a bit of a long shot for the top prize, but it has a massive and rabidly loyal following and always makes a big presence at these events.