Oceania is a geographic region that includes Australasia, Melanesia, Micronesia and Polynesia. Spanning the Eastern and Western Hemispheres, the continent has a land area of 8,525,989 square kilometers (3,291,903 sq mi). Moreover, the continent has a population of over 41 million. When compared with the continents, the region of Oceania is the smallest in land area. Also it has the second smallest in population after Antarctica. Oceania has a diverse mix of economies from the highly developed and globally competitive financial markets of Australia, New Caledonia and New Zealand, which rank high in quality of life and human development index, to the much less developed economies such as Papua New Guinea, Indonesian New Guinea, Kiribati, Vanuatu and Tuvalu, while also including medium-sized economies of Pacific islands such as Palau, Fiji and Tonga. The largest and most populous country in Oceania is Australia, and the largest city is Sydney.
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