Facts About Jakarta Jakarta (, Indonesian pronunciation: [d?a?karta]), officially the Special Capital Region of Jakarta, is the capital and largest city of Indonesia, which was formerly known as Batavia during the Dutch East Indies and Sunda Kelapa during the Sunda Kingdom. Located on the northwest coast of the world's most populous island of Java, Jakarta is the centre of economics, culture and politics of Indonesia, with a population of 10,075,310 as of 2014. Greater Jakarta metropolitan area, which is known as Jabodetabek (a name formed by combining the initial syllables of Jakarta, Bogor, Depok, Tangerang and Bekasi), is the second largest urban agglomeration and 2nd largest city area in the world after Tokyo, with a population of 30,214,303 inhabitants as of 2010 census. Jakarta's business opportunities, as well as its potential to offer a higher standard of living, attract migrants from all over the Indonesian archipelago, making it a melting pot of many communities and cultures. Jakarta is officially a province with special capital region status, yet is commonly referred to as a city. The Jakarta provincial government administers five administrative cities and one administrative regency.
Established in the fourth century as Sunda Kelapa, the city became an important trading port for the Kingdom of Sunda. It was the de facto capital of the Dutch East Indies, and was known as Batavia at that time. The city is currently the seat of the ASEAN Secretariat as well as important financial institutions such as the Bank of Indonesia, the Indonesia Stock Exchange, and the corporate headquarters of numerous Indonesian companies and multinational corporations. As of 2017, six of Forbes Global 2000 companies have headquarters in the city. The city is also home for two Fortune 500 companies in 2016.Four Unicorn start up operates from their head office in Jakarta.
Jakarta is listed as an Alpha Global City in the 2016 report of Globalization and World Cities Research Network (GaWC). Based on the global metro monitor by the Brookings Institution, in 2014, the GDP of Jakarta was estimated at US$321.3 billion and economic growth was ranked 34th among the world's 200 largest cities. Jakarta has grown more rapidly than Kuala Lumpur, Bangkok and Beijing.
Major challenges for Jakarta among others are rapid urban growth that led to overpopulation and ecological breakdown, gridlock traffic and congestion, poverty and inequality, and flooding. The Indonesian capital is sinking up to 17 cm (6.7 inches) per year, which, coupled with the rising of sea level, has made the city prone to flooding.