Bucharest is the capital and largest city of Romania. It is described as the cultural, financial, entertainment, and media center in the country with a significant influence in Eastern and Southeastern Europe as well. It is also a city with a significant influence in terms of education, tourism, research, technology, health care, art, fashion, sports, and politics. It is located in the south-east of Romania, on the banks of the Dâmbovița river, less than 60 km (37.3 mi) north of the Danube River and the border with Bulgaria. It is also one of the most populated cities of the European Union (EU) within city limits and the most populated capital in Southeastern Europe. It was the capital of Wallachia from 1659 to 1859 and the capital of the United Principalities of Moldavia and Wallachia (Romanian United Principalities, later the Kingdom of Romania) from 1859 to 1881.
Economically, Bucharest is the most prosperous city in Romania and the richest capital and city in the region, surpassing Budapest a few years ago. By 2050, certain economic studies reveal the fact that Bucharest will emerge as Europe's richest city in terms of GDP per capita, followed by Luxembourg City and Groningen.[ Furthermore, a new report by Grosvenor, revealed that Bucharest will already be the 3rd richest city in Europe by 2040.
