Claim: New York has a significant impact on the economy.

The City of New York , often called New York City or simply New York , is the most populous city in the United States . With an estimated 2016 population of 8,537,673 distributed over a land area of about 302.6 sqmi , New York City is also the most densely populated major city in the United States . Located at the southern tip of the state of New York , the city is the center of the New York metropolitan area , one of the most populous urban agglomerations in the world . A global power city , New York City exerts a significant impact upon commerce , finance , media , art , fashion , research , technology , education , and entertainment , its fast pace defining the term New York minute . Home to the headquarters of the United Nations , New York is an important center for international diplomacy and has been described as the cultural , financial , and media capital of the world .   Situated on one of the world 's largest natural harbors , New York City consists of five boroughs , each of which is a separate county of New York State . The five boroughs -- Brooklyn , Queens , Manhattan , The Bronx , and Staten Island -- were consolidated into a single city in 1898 . The city and its metropolitan area constitute the premier gateway for legal immigration to the United States , and as many as 800 languages are spoken in New York , making it the most linguistically diverse city in the world . New York City is home to more than 3.2 million residents born outside the United States , the world 's largest foreign-born population of any city . By 2016 estimates , the New York City metropolitan region remains by a significant margin the most populous in the United States , as defined by both the Metropolitan Statistical Area -LRB- MSA -RRB- , 20.2 million residents , and the Combined Statistical Area -LRB- CSA -RRB- , 23.7 million residents . In 2013 , the MSA produced a gross metropolitan product -LRB- GMP -RRB- of nearly US$ 1.39 trillion . In 2012 , the CSA generated a GMP of over US$ 1.55 trillion . NYC 's MSA and CSA GDP are higher than the GDPs of all but 11 and 12 countries , respectively .   New York City traces its origin to its 1624 founding in Lower Manhattan as a trading post by colonists of the Dutch Republic and was named New Amsterdam in 1626 . The city and its surroundings came under English control in 1664 and were renamed New York after King Charles II of England granted the lands to his brother , the Duke of York . New York served as the capital of the United States from 1785 until 1790 . It has been the country 's largest city since 1790 . The Statue of Liberty greeted millions of immigrants as they came to the Americas by ship in the late 19th and early 20th centuries and is a symbol of the United States and its democracy . In the 21st century , New York has emerged as a global node of creativity and entrepreneurship , social tolerance , and environmental sustainability .   Many districts and landmarks in New York City have become well known , and the city received a record of nearly 60 million tourists in 2015 , hosting three of the world 's ten most visited tourist attractions in 2013 . Several sources have ranked New York the most photographed city in the world . Times Square , iconic as the world 's `` heart '' and its `` Crossroads '' , is the brightly illuminated hub of the Broadway Theater District , one of the world 's busiest pedestrian intersections , and a major center of the world 's entertainment industry . The names of many of the city 's bridges , tapered skyscrapers , and parks are known around the world . Anchored by Wall Street in the Financial District of Lower Manhattan , New York City has been called both the most economically powerful city and the leading financial center of the world , and the city is home to the world 's two largest stock exchanges by total market capitalization , the New York Stock Exchange and NASDAQ . Manhattan 's real estate market is among the most expensive in the world . Manhattan 's Chinatown incorporates the highest concentration of Chinese people in the Western Hemisphere , with multiple signature Chinatowns developing across the city . Providing continuous 24/7 service , the New York City Subway is one of the most extensive metro systems worldwide , with stations in operation . Over 120 colleges and universities are located in New York City , including Columbia University , New York University , and Rockefeller University , which have been ranked among the top 35 in the world .