Melbourne is the capital and most populous city in the state of Victoria, and the second most populous city in Australia. The name "Melbourne" refers to an urban agglomeration area (and census statistical division) spanning 9,900 km2 (3,857.2 sq mi) that comprises the greater metropolis – as well as being a common name for its metropolitan hub, the Melbourne City Centre. It is a leading financial centre in Australia, as well as the Asia-Pacific region, and has been ranked the world's most livable city since 2011 (and among the top three since 2002), according the Economist Intelligence Unit (EIU). In 2013 the EIU also ranked Melbourne the fourth most expensive city in the world, tying with Oslo, Norway. Melbourne is rated highly in the areas of education, entertainment, healthcare, research and development, tourism and sports.
It is located on the large natural bay of Port Phillip, with its City Centre situated at the northernmost point of the bay – near to the estuary of the Yarra River. The metropolitan area extends south from the City Centre, along the eastern and western shorelines of Port Phillip, and expands into the hinterlands – toward the Dandenong and Macedon mountain ranges, Mornington Peninsula and Yarra Valley. The City Centre is located in the municipality known as the City of Melbourne, and the metropolis consists of a further 30 municipalities. Melbourne has a population of 4.25 million, and the fastest growing population among Australian capital cities. Inhabitants of the city are called Melburnians.
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