Munich is the capital and largest city of the German state of Bavaria. It is located on the River Isar north of the Bavarian Alps. Munich is the third largest city in Germany, after Berlin and Hamburg. About 1.5 million people live within the city limits. Its inhabitants are sometimes called Munichers in English. Its native name, München, is derived from the Old High German Munichen, meaning "by the monks' place". The city's name derives from the monks of the Benedictine order who founded the city; hence the monk depicted on the city's coat of arms. Black and gold—the colours of the Holy Roman Empire—have been the city's official colours since the time of Ludwig the Bavarian. Munich was first mentioned in 1158. From 1255 the city was seat of the Bavarian Dukes, it was an imperial residence from 1328 and in 1506 became the sole capital of Bavaria. Munich was the host city of the 1972 Summer Olympics. Munich is home to many national and international authorities and major universities, major museums and theaters. Its numerous architectural attractions, international sports events, exhibitions and conferences and the Munich Oktoberfest combine to attract considerable tourism. The city's motto is "München mag dich" (Munich loves you). Before 2006, it was "Weltstadt mit Herz" (Cosmopolitan city with a heart).
Modern Munich is a financial and publishing hub, and a frequently top-ranked destination for migration and expatriate location in livability rankings. Munich achieved 4th place in frequently quoted Mercer livability rankings in 2011 and 2012. Munich is one of the economically most successful and fastest growing cities in Germany and the seat of numerous corporations and insurance companies. For economic and social innovation, the city was ranked 15th globally out of 289 cities in 2010, and 5th in Germany by the 2thinknow Innovation Cities Index based on analysis of 162 indicators. In 2010, Monocle ranked Munich as the world's most livable city (in 2012, Munich was ranked fifth in Monocle's ranking, yet remained the highest ranked city in Germany). At the centre of the city is the Marienplatz—a large open square named after the Mariensäule, a Marian column in its centre—with the Old and the New Town Hall. Its tower contains the Rathaus-Glockenspiel. Three gates of the demolished medieval fortification have survived to this day—the Isartor in the east, the Sendlinger Tor in the south and the Karlstor in the west of the inner city. The Karlstor leads up to the Stachus, a grand square.The Peterskirche close to Marienplatz is the oldest church of the inner city. It was first built during the Romanesque period, and was the focus of the early monastic settlement in Munich before the city's official foundation in 1158. Nearby St. Peter the Gothic hall-church Heiliggeistkirche (The Church of the Holy Spirit) was converted to baroque style from 1724 onwards and looks down upon the Viktualienmarkt, the most popular market of Munich.
The Frauenkirche is the most famous building in the city centre and serves as the cathedral for the Archdiocese of Munich and Freising. The nearby Michaelskirche is the largest renaissance church north of the Alps, while the Theatinerkirche is abasilica in Italianate high baroque which had a major influence on Southern German baroque architecture. Its dome dominates the Odeonsplatz. Other baroque churches in the inner city which are worth a detour are the Bürgersaalkirche, the Dreifaltigkeitskirche, the St. Anna Damenstiftskirche and St. Anna im Lehel, the first rococo church in Bavaria. The Asamkirche was endowed and built by the Brothers Asam, pioneering artists of the rococo period. The large Residenz palace complex (begun in 1385) on the edge of Munich's Old Town ranks among Europe's most significant museums of interior decoration. Having undergone several extensions, it contains also the treasury and the splendid rococo Cuvilliés Theatre. Next door to the Residenz the neo-classical opera, the National Theatre was erected. Among the baroque and neoclassical mansions which still exist in Munich are the Palais Porcia, the Palais Preysing, the Palais Holnstein and the Prinz-Carl-Palais. All mansions are situated close to the Residenz, same as the Alte Hof, a medieval castle and first residence of the Wittelsbach dukes in Munich.