Jakarta is the capital and largest city of Indonesia. It also has a greater population than any other city in Southeast Asia. It was formerly known as Sunda Kelapa (397-1527), Jayakarta (1527-1619), Batavia (1619-1942), and Djakarta (1942-1972). Located on the northwest coast of the Java Island, it has an area of 661.52 square kilometres (255.41 sq mi) and a population of 8,489,910[1]. Jakarta is the country's economic, culture and political center. Jakarta is one of the wealthiest cities in Asia, with US$ 18,000 income per capita. Jakarta currently is the eleventh largest city in the world. Its metropolitan area is called Jabodetabek and contains more than 23 million people, and is part of an even larger Jakarta-Bandung megalopolis.
Jakarta is served by the Soekarno-Hatta International Airport and Tanjung Priok harbour. Since 2004, Jakarta, while under the governance of Sutiyoso, has built a new bus system known as "TransJakarta" or "Busway" and is planning to increase the number of Busway routes. The city had hoped to establish its newest transportation system, the Jakarta Monorail, in 2007, but the project has been abandoned by the developer PT Jakarta Monorail in March 2008. Jakarta also is the location of the Indonesia Stock Exchange, Bank of Indonesia, and the National Monument, Tugu Monas.