Amsterdam is the capital of the Netherlands. The city is known for its historic port, the Rijksmuseum, the red-light district (de Wallen), the liberal coffeeshops, and the canals which have led to Amsterdam being termed the "Venice of the North".During the Dutch Golden Age, Amsterdam was one of the most important ports in the world, with innovative developments in trade, and became the leading centre for finance and diamonds. The city was founded in the late 12th century as a small fishing village, and has grown to become the largest city in the Netherlands with a population of 743,027 inhabitants, which includes 177 different nationalities, making Amsterdam the most multicultural city in the world. The metropolitan region has a population of 1,021,870 inhabitants and is part of the conglomerate metropolitan area Randstad, with a population of 6,659,300 inhabitants. The name Amsterdam is a derivative from Amstel dam,[12] that is, a dam in the river Amstel. that is, a dam in the river Amstel.