Monterrey is the capital and largest city of the northeastern state of Nuevo León, Mexico. The city is anchor to the Monterrey metropolitan area, the second most productive in Mexico with a GDP (PPP) of US$123 billion, and the third largest with an estimated population of 4,689,601 people as of 2015. Monterrey is also considered the city with the best quality of life in the country, and serves as a commercial center of northern Mexico and is the base of many significant international corporations. Its purchasing power parity-adjusted GDP per capita is considerably higher than the rest of Mexico's at around US$35,500, compared to the country's US$18,800. It is considered a Beta World City, cosmopolitan and competitive. Rich in history and culture, it is one of the most developed cities in Mexico.