Thessaloniki is located on the Thermaic Gulf, at the northwest corner of the Aegean Sea. It is bounded on the west by the delta of the Axios. The municipality of Thessaloniki, the historical center, had a population of 325,182 in 2011,^[4] while the Thessaloniki Urban Area had a population of 824,676^[4] and the Thessaloniki metropolitan area had 1,030,338 inhabitants in 2011.^[4][3] It is Greece’s second major economic, industrial, commercial and political centre; it is a major transportation hub for Greece and southeastern Europe, notably through the Port of Thessaloniki.^[10] The city is renowned for its festivals, events and vibrant cultural life in general,^[11] and is considered to be Greece’s cultural capital.^[11] Events such as the Thessaloniki International Fair and the Thessaloniki International Film Festival are held annually, while the city also hosts the largest bi-annual meeting of the Greek diaspora.^[12] Thessaloniki was the 2014 European Youth Capital.^[13]