London (/ˈlʌndən/ ( listen) LUN-dən) is the capital and largest city of both England and the United Kingdom.[6][7] Standing on the River Thames in the south-east of England, at the head of its 50-mile (80 km) estuary leading to the North Sea, London has been a major settlement for two millennia. Londinium was founded by the Romans.[8] The City of London, London's ancient core − an area of just 1.12 square miles (2.9 km2) and colloquially known as the Square Mile − retains boundaries that follow closely its medieval limits.[9][10][11][12][13][note 1] The City of Westminster is also an Inner London borough holding city status. Greater London is governed by the Mayor of London and the London Assembly.[14][note 2][15] London is considered to be one of the world's most important global cities[16][17][18] and has been termed the world's most powerful,[19] most desirable,[20] most influential,[21] most visited,[22] most expensive,[23][24]innovative,[25] sustainable,[26] most investment friendly,[27] most popular for work,[28] and the most vegetarian friendly[29] city in the world. London exerts a considerable impact upon the arts, commerce, education, entertainment, fashion, finance, healthcare, media, professional services, research and development, tourism and transportation.[30][31] London ranks 26 out of 300 major cities for economic performance.[32] It is one of the largest financial centres[33] and has either the fifth or sixth largest metropolitan area GDP.[note 3][34][35][36][37][38] It is the most-visited city as measured by international arrivals[39] and has the busiest city airport system as measured by passenger traffic.[40] It is the leading investment destination,[41][42][43][44] hosting more international retailers[45][46] and ultra highnet-worth individuals[47][48] than any other city. London's universities form the largest concentration of higher education institutes in Europe.[49] In 2012, London became the first city to have hosted three modern Summer Olympic Games.[50]