Sydney is the most populous city in Australia and the state capital of New South Wales. Sydney is located on Australia's south-east coast of the Tasman Sea. Its approximate population is 4.6 million people. The site of the first British colony in Australia, Sydney was established in 1788 at Sydney Cove by Arthur Phillip, commodore of the First Fleet as a penal colony. The city is built on hills surrounding Port Jackson which is commonly known as Sydney Harbour, where the iconic Sydney Opera House and the Harbour Bridge feature prominently. In 2010, Sydney was ranked 7th in Asia and 28th globally for economic innovation in the Innovation Cities Top 100 Index by innovation agency 2thinknow. Sydney also ranks among the top 10 most liveable cities in the world. Sydney ranks among the top 10 world centres. It has hosted major international sporting events, including the 1938 British Empire Games, the 2000 Summer Olympics, and the final match of the 2003 Rugby World Cup.