Israel is a country in Western Asia located on the eastern edge of the Mediterranean Sea. It borders Lebanon in the north, Syria and Jordan in the east, and Egypt on the southwest, and contains geographically diverse features within its relatively small area.[5] The West Bank and Gaza Strip, which are partially administrated by the Palestinian National Authority, are also adjacent. With a population of about 7.2 million,[3] the majority of whom are Jews, Israel is the world's only Jewish state.[6] It is also home to Arab Muslims, Christians and Druze, as well as other religious and ethnic minority groups. The modern state of Israel has its roots in the Land of Israel, a concept central to Judaism for over three thousand years. After World War I, the League of Nations approved the British Mandate of Palestine with the intent of creating a "national home for the Jewish people."[7] In 1947, the United Nations approved the partition of the Mandate of Palestine into two states, one Jewish and one Arab.[8] The Arab League rejected the plan, but on May 14, 1948, Israel declared its independence. The new country's victory in the subsequent Arab-Israeli War expanded the borders of the Jewish state beyond those in the UN Partition Plan. Since then, Israel has been in conflict with many of the neighboring Arab countries, resulting in several major wars and decades of violence until this day.[9] Since its foundation, Israel's boundaries and even the State's very right to exist have been subject to dispute, although Israel has signed peace treaties with Egypt and Jordan, and efforts are being made to reach a permanent accord with the Palestinians. Israel is a representative democracy with a parliamentary system and universal suffrage.[10][11] The Prime Minister serves as head of government and the Knesset serves as Israel's legislative body. In terms of nominal gross domestic product, the nation's economy is estimated as being the 44th-largest in the world;[12] Israel ranks high among Middle Eastern countries on the bases of human development,[13] freedom of the press,[14] and economy.[15][16] Jerusalem is the country's capital, seat of government, and largest city,[1] and Israel's main financial center encompasses Tel Aviv.