section_path: Abstract
section_name: Abstract
paragraph_text: Stockholm (/ ˈ s t ɒ k h oʊ (l) m /; Swedish:) is the capital and most populous city of Sweden, as well as the largest urban area in the Nordic countries. Approximately 1 million people live in the municipality, with 1.6 million in the urban area, and 2.5 million in the metropolitan area. The city stretches across fourteen islands where Lake Mälaren flows into the Baltic Sea. Outside the city to the east, and along the coast, is the island chain of the Stockholm archipelago. The area has been settled since the Stone Age, in the 6th millennium BC, and was founded as a city in 1252 by Swedish statesman Birger Jarl. The city serves as the county seat of Stockholm County.
  
  Stockholm is the cultural, media, political, and economic centre of Sweden. The Stockholm region alone accounts for over a third of the country's GDP, and is among the top 10 regions in Europe by GDP per capita. Considered a global city, it is the largest in Scandinavia and the main centre for corporate headquarters in the Nordic region. The city is home to some of Europe's top-ranking universities, such as the Karolinska Institute (medicine), KTH Royal Institute of Technology, Stockholm School of Economics and Stockholm University. It hosts the annual Nobel Prize ceremonies and banquet at the Stockholm Concert Hall and Stockholm City Hall. One of the city's most prized museums, the Vasa Museum, is the most visited museum in Scandinavia. The Stockholm metro, opened in 1950, is well known for the decor of its stations; it has been called the longest art gallery in the world. The city was the host of the 1912 Summer Olympics, and has played host to several other international sports events since.
  
  Stockholm is Sweden's primary financial centre, one of the largest in Scandinavia, and hosts several of Sweden's largest companies. Furthermore, the headquarters of most of Sweden's largest banks are in Stockholm. Stockholm is one of Europe's major tech centres; the city has sometimes been called Europe's innovation hub. The Stockholm region has a GDP of around $180 billion, and Stockholm County has the highest GDP per capita of all counties in Sweden.
  
  Stockholm is the seat of the Swedish government and most of its agencies, including the highest courts in the judiciary, and the official residences of the Swedish monarch and the prime minister. The government has its seat in the Rosenbad building, the Riksdag (Swedish parliament) is seated in the Parliament House, and the prime minister's residence is adjacent at the Sager House. Stockholm Palace is the official residence and principal workplace of the Swedish monarch, while Drottningholm Palace in neighbouring Ekerö serves as the Royal Family 's private residence.