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Stockholm is the cultural, media, political, and economic centre of Sweden. The Stockholm region alone accounts for over a third of the country's [[Gross domestic product|GDP]],<ref>{{Cite web |title=Finansiella sektorn bär frukt—Analys av den finansiella sektorn ur ett svenskt perspektiv |url=http://www.regeringen.se/content/1/c6/09/80/26/c1d1f5aa.pdf |url-status=dead |archive-url=https://web.archive.org/web/20140728022057/http://www.regeringen.se/content/1/c6/09/80/26/c1d1f5aa.pdf |archive-date=28 July 2014 |access-date=19 July 2014 |publisher=[[Government of Sweden]]}}</ref> and is among the top 10 regions in [[Europe]] by [[List of countries by GDP (nominal) per capita|GDP per capita]].<ref>{{Cite web |year=2013 |title=Regional GDP per capita in the EU in 20 10: eight capital regions in the ten first places |url=http://epp.eurostat.ec.europa.eu/cache/ITY_PUBLIC/1-21032013-AP/EN/1-21032013-AP-EN.PDF |url-status=dead |archive-url=https://web.archive.org/web/20130403140856/http://epp.eurostat.ec.europa.eu/cache/ITY_PUBLIC/1-21032013-AP/EN/1-21032013-AP-EN.PDF |archive-date=3 April 2013 |access-date=19 July 2014 |publisher=[[Eurostat]] }}</ref> Considered a [[global city]],<ref>{{Cite web |title=The World According to GaWC 2020 |url=https://www.lboro.ac.uk/gawc/world2020t.html |access-date=31 August 2020 |department=GaWC - Research Network |publisher=Globalization and World Cities |archive-date=24 August 2020 |archive-url=https://web.archive.org/web/20200824031341/https://www.lboro.ac.uk/gawc/world2020t.html |url-status=live }}</ref> it is the largest in [[Scandinavia]] and the main centre for [[corporate headquarters]] in the Nordic region.<ref>{{Cite book |last=Olshov |first=Anders |title=The location of nordic and global headquarters 2010 |date=2010 |publisher=Øresundsinstituttet |location=Malmö |page=197 |oclc=706436140 |quote=Stockholm is the main centre of headquarters in the Nordic region}}</ref> The city is home to some of Europe's top ranking universities, such as the [[Karolinska Institutet|Karolinska Institute]], [[Stockholm School of Economics]], [[KTH Royal Institute of Technology]] and [[Stockholm University]].<ref>{{Cite web |title=World University Rankings 2011–12: Europe |url=http://www.timeshighereducation.co.uk/world-university-rankings/2011-12/world-ranking/region/europe |access-date=19 July 2014 |publisher=TSL Education Ltd |archive-date=1 August 2014 |archive-url=https://web.archive.org/web/20140801205351/http://www.timeshighereducation.co.uk/world-university-rankings/2011-12/world-ranking/region/europe |url-status=live }}</ref> 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.<ref>{{Cite web |title=Find out how to visit Scandinavia in this complete guide |url=https://www.nordicvisitor.com/blog/scandinavia-guide-best-time-place/ |access-date=18 October 2023 |website=www.nordicvisitor.com |language=en |archive-date=18 October 2023 |archive-url=https://web.archive.org/web/20231018224322/https://www.nordicvisitor.com/blog/scandinavia-guide-best-time-place/ |url-status=live }}</ref> 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.<ref>{{Cite web |title=Stockholm's underground subway art |url=http://www.bbc.com/travel/slideshow/20120709-stockholms-underground-subway-art |access-date=19 July 2014 |publisher=BBC |archive-date=6 April 2014 |archive-url=https://web.archive.org/web/20140406232923/http://www.bbc.com/travel/slideshow/20120709-stockholms-underground-subway-art |url-status=live }}</ref> The city was the host of the [[1912 Summer Olympics]], and has played host to several other international sports events since.<ref>{{Cite web |title=Stockholm 1912 Olympic Games {{!}} Olympic Records, Sweden & Athletics {{!}} Britannica |url=https://www.britannica.com/event/Stockholm-1912-Olympic-Games |access-date=18 October 2023 |website=www.britannica.com |language=en |archive-date=19 April 2021 |archive-url=https://web.archive.org/web/20210419110602/https://www.britannica.com/event/Stockholm-1912-Olympic-Games |url-status=live }}</ref>
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.<ref>{{Cite web |date=23 August 2021 |title=Tech Start-ups Secure Sweden's Title as the European Silicon Valley |url=https://www.eurocompanyformations.com/blog/sweden-becomes-european-silicon-valley/ |access-date=28 October 2023 |website=European Company Formation {{!}} Company Registration Europe |language=en-US |archive-date=24 October 2023 |archive-url=https://web.archive.org/web/20231024061734/https://www.eurocompanyformations.com/blog/sweden-becomes-european-silicon-valley/ |url-status=live }}</ref> The Stockholm region has a GDP of around $180 billion,<ref>{{Cite web |title=Stockholm: GDP 2021 |url=https://www.statista.com/statistics/1358248/gdp-stockholm/ |access-date=17 October 2023 |website=Statista |language=en |archive-date=18 October 2023 |archive-url=https://web.archive.org/web/20231018051304/https://www.statista.com/statistics/1358248/gdp-stockholm/ |url-status=live }}</ref> and Stockholm County has the [[List of Swedish counties by GDP|highest GDP per capita]] of all [[Counties of Sweden|counties in Sweden]].<ref>{{Cite web |title=Regional GDP - Regionfakta |url=http://www.regionfakta.com/Vastra-Gotalands-lan/IN-ENGLISH-/Regional-economy/Regional-GDP/ |access-date=17 October 2023 |website=www.regionfakta.com |language=sv-se |archive-date=18 October 2023 |archive-url=https://web.archive.org/web/20231018051310/https://www.regionfakta.com/Vastra-Gotalands-lan/IN-ENGLISH-/Regional-economy/Regional-GDP/ |url-status=live }}</ref> In 2023, it ranks 24th among [[global innovation hubs]].<ref>{{Cite journal |title=Global Innovation Hubs Index 2023 |url=https://www.nature.com/articles/d42473-023-00420-1|date=2023-11-22 |access-date=2024-03-31}}</ref>
Stockholm is the seat of the [[Government of Sweden|Swedish government]] and most of [[Government agencies in Sweden|its agencies]],<ref>{{Cite web |date=27 April 2012 |title=Allt fler myndigheter hamnar i Stockholm |url=http://rod.se/stockholm-samlar-p%C3%A5-sig-allt-fler-myndigheter |url-status=dead |archive-url=https://web.archive.org/web/20120501045429/http://rod.se/stockholm-samlar-p%C3%A5-sig-allt-fler-myndigheter |archive-date=1 May 2012 |access-date=1 February 2014 |publisher=Riksdag & Departement |language=sv }}</ref> including the highest courts in the [[Judiciary of Sweden|judiciary]],<ref>{{Cite web |title=Bondeska palatset |url=http://www.sfv.se/sv/fastigheter/sverige/stockholms-lan-ab/ovriga/bondeska-palatset/ |access-date=2 February 2014 |publisher=[[National Property Board of Sweden]] |language=sv |archive-date=4 February 2014 |archive-url=https://web.archive.org/web/20140204022300/http://www.sfv.se/sv/fastigheter/sverige/stockholms-lan-ab/ovriga/bondeska-palatset/ |url-status=live }}</ref> and the [[official residence|official residences]] of the [[Monarchy of Sweden|Swedish monarch]] and the [[Prime Minister of Sweden|Prime Minister]]. The government has its seat in the [[Rosenbad]] building, the [[Riksdag]] (Swedish parliament) is seated in the [[Parliament House, Stockholm|Parliament House]],<ref>{{Cite web |title=How the Riksdag works |url=http://www.riksdagen.se/en/How-the-Riksdag-works/ |url-status=live |archive-url=https://web.archive.org/web/20140103224819/http://www.riksdagen.se/en/How-the-Riksdag-works/ |archive-date=3 January 2014 |access-date=2 February 2014 |publisher=The [[Riksdag]]}}</ref> and the Prime Minister's residence is adjacent at the [[Sager House]].<ref>{{Cite web |title=Sagerska huset |url=http://www.sfv.se/sv/fastigheter/sverige/stockholms-lan-ab/regeringskvarteren/kvarteret_lejonet/sagerska-huset/ |access-date=2 February 2014 |publisher=[[National Property Board of Sweden]] |language=sv |archive-date=19 March 2019 |archive-url=https://web.archive.org/web/20190319212830/https://www.sfv.se/sv/fastigheter/sverige/stockholms-lan-ab/regeringskvarteren/kvarteret_lejonet/sagerska-huset/ |url-status=live }}</ref> [[Stockholm Palace]] is the official residence and principal workplace of the Swedish monarch, while [[Drottningholm Palace]] in neighbouring [[Ekerö Municipality|Ekerö]] serves as the [[Swedish Royal Family|Royal Family]]'s private residence.<ref>{{Cite web |title=Royal palaces and residences |url=https://www.kungahuset.se/english/royal-palaces-and-residences |access-date=21 October 2023 |website=www.kungahuset.se |language=en |archive-date=23 October 2023 |archive-url=https://web.archive.org/web/20231023032650/https://www.kungahuset.se/english/royal-palaces-and-residences |url-status=live }}</ref>
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