Victoria (Australia) and is also described as the world's sporting capital. The Melbourne Cricket Ground, the largest stadium in Australia and the Southern Hemisphere, hosted the 1956 Summer Olympics and the 2006 Commonwealth Games. The ground is also considered the "spiritual home" of Australian cricket and Australian rules football, and hosts the grand final of the Australian Football League (AFL) each year, drawing crowds of approximately 100,000. Victoria has eight public universities, with the oldest, the University of Melbourne, dating from 1853. Victoria, like Queensland, was named after Queen Victoria, who had been on the British throne for 14 years when the
Victoria (Australia) municipal areas. The state of Victoria is the second largest economy in Australia after New South Wales, accounting for a quarter of the nation's gross domestic product. The total gross state product (GSP) at current prices for Victoria was A$374 billion in June 2016, with a GSP per capita of A$60,595. The economy grew by 1.0 per cent in the 2015–16 financial year, less than the Australian average of 2.7 per cent. Finance and insurance is Victoria's largest income producing sector, while the health care and social assistance sector is the state's biggest employer. The shift towards service industries in