Los Angeles is the second-most populous city in the United States, after New York City, and the most populous city in the Western United States. With an estimated population of four million, Los Angeles is the largest and most populous city in the state of California and the cultural, financial, and commercial center of Southern California. Nicknamed the "City of Angels" partly because of its name's Spanish meaning, Los Angeles is known for its Mediterranean climate, ethnic diversity, and sprawling metropolis. The city is also one of the most substantial economic engines within the nation, with a diverse economy in a broad range of professional and cultural fields. Los Angeles is also famous as the home of Hollywood, a major center of the world entertainment industry. A global city, it has been ranked 6th in the Global Cities Index and 9th in the Global Economic Power Index. The Los Angeles combined statistical area also has a gross metropolitan product of $831 billion, making it the third-largest in the world, after the Greater Tokyo and New York metropolitan areas. Los Angeles hosted the 1932 and 1984 Summer Olympics and will host the event for a third time in 2028.