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The city is the capital of the State of Sao Paulo, the most populous Brazilian state. It is also the richest city of Brazil. The name means Saint Paul in Portuguese. Sao Paulo exerts strong regional influence in commerce and finance as well as arts and entertainment.
The city has many renowned landmarks. The Immigrant's Hostel greeted millions of immigrants as they came to Brazil in the late 19th and early 20th centuries. Paulista Avenue, in Downtown, is the most important financial center of the country and South America. The city is home to the Sao Paulo Stock Exchange (BOVESPA). Sao Paulo has been home to several of the tallest buildings in Brazil, including the Mirante do Vale Building.
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