Melbourne is the coastal capital of the southeastern Australian state of Victoria. Located on the large natural bay of Port Phillip, the city extends into its metropolitan area and hinterlands towards the Dandenong and Macedon mountain ranges, Mornington Peninsula and Yarra Valley. Melbourne is known for its mix of modern architecture alongside preserved Victorian-era buildings, exemplifying a dynamic urban landscape deeply rooted in history. The city was founded on August 30, 1835, by settlers from Tasmania under the leadership of John Batman and John Pascoe Fawkner, and it was incorporated as a Crown settlement in 1837. It was named in honor of the then British Prime Minister, William Lamb, 2nd Viscount Melbourne. Rapid growth ensued, and by the gold rush of the 1850s, it had become the financial and political center of Victoria and one of the largest and wealthiest cities in the British Empire. Melbourne served as the interim seat of government of Australia until 1927 when the national capital Canberra was established. Geographically, Melbourne experiences a temperate oceanic climate, with warm summers, cool winters, and rainfall spread throughout the year, lending itself to lush parks and gardens found throughout the city. Culturally, Melbourne is renowned for its arts scene, with numerous galleries, theatres, and it is also recognized as the live music capital of Australia. The Melbourne International Arts Festival, Film Festival and Comedy Festival are all key events in the international cultural calendar. Furthermore, the city's dedication to the celebration of diversity is evident through its myriad festivals, cuisine, and inclusive policies. Melbourne's cultural diversity has increased throughout its history, especially following World War II, with an influx of immigrants from Southern Europe, the Middle East, and Asia. Consequently, the city's food, art, and everyday life reflect a cosmopolitan and multicultural society. The city is often cited as an exemplar of multiculturalism both in Australia and worldwide. Demographically, Melbourne is among Australia's most cosmopolitan cities. While English is the national language and spoken by the majority, within the community, many other languages are also spoken due to its diverse population. The city is home to people of numerous ethnic, religious, and linguistic backgrounds, creating a mosaic of subcultures living side by side. It is ranked as one of the world's most livable cities, attributed to its high standards of education, healthcare, entertainment, research and development, tourism, and sports. In the realm of sports, Melbourne is well-regarded for hosting major international events such as the Australian Open tennis tournament, the Melbourne Cup horse race, and the Australian Grand Prix of Formula One. Economically, Melbourne is a leading financial center in the Asia-Pacific region and home to the second-largest industrial center in Australia. It hosts the headquarters of many of Australia's largest corporations, as well as the Asia-Pacific headquarters for numerous international firms. Melbourne's economy is structured around finance, manufacturing, research, IT, education, logistics, transportation, and tourism. The Port of Melbourne is the largest and busiest port in Australia, handling extensive cargo and visitor traffic. Melbourne's strong economy sustains its growth and continues to draw domestic and international migrants, adding further to the city's dynamic and diverse atmosphere. The city's balance of cultural richness, vibrant economy, and high quality of life makes it a prominent urban center in Australia and a key player in the global economic network.