Frankfurt is a metropolis and the largest city of the German state of Hesse. Its inhabitants make it the fifth-largest city in Germany. The city is named after the Franks. Frankfurt is the largest city in the Rhine Franconian dialect area. Frankfurt was a city state, the Free City of Frankfurt, for nearly five centuries and was one of the most important cities of the Holy Roman Empire, as a site of imperial coronations. Frankfurt is culturally, ethnically and religiously diverse, with half of its population, and a majority of its young people, having a migration background. A quarter of the population consists of foreign nationals, including many expatriates.
Frankfurt is a global hub for commerce, culture, education, tourism and transportation, and rated as an "alpha world city" according to GaWC. It is the site of many global and European corporate headquarters. Frankfurt Airport is among the world's busiest. Frankfurt is one of the major financial centres of the European continent, with the headquarters of the European Central Bank, Deutsche Bundesbank, Frankfurt Stock Exchange, Deutsche Bank, DZ Bank, KfW, Commerzbank, several cloud and fintech startups and other institutes. Automotive, technology and research, services, consulting, media and creative industries complement the economic base. Frankfurt's DE-CIX is the world's largest internet exchange point. Messe Frankfurt is one of the world's largest trade fairs. Major fairs include the Music Fair and the Frankfurt Book Fair, the world's largest book fair.
Frankfurt is the largest financial centre in continental Europe. It is home to the European Central Bank, Deutsche Bundesbank, Frankfurt Stock Exchange and several large commercial banks.The Frankfurt Stock Exchange is one of the world's largest stock exchanges by market capitalization and accounts for more than 90 percent of the turnover in the German market.In 2010, 63 national and 152 international banks had their registered offices in Frankfurt, including Germany's major banks, notably Deutsche Bank, DZ Bank, Kfw and Commerzbank, as well as 41 representative offices of international banks. Frankfurt is considered a global city (alpha world city) as listed by the GaWC group's 2012 inventory. Among global cities it was ranked 10th by the Global Power City Index 2011 and 11th by the Global City Competitiveness Index 2012. Among financial centres it was ranked 8th by the International Financial Centers Development Index 2013 and 9th in the 2013 Global Financial Centres Index.