Novi is the second largest city in Serbia and the capital of the province of Vojvodina. It is located in the southern part of the Pannonian Plain, on the border of the Bačka and Srem regions, on the banks of the Danube river, facing the northern slopes of Fruška Gora mountain.The city has a population of 400.000, while the urban area of Novi Sad (with the adjacent urban settlements of Petrovaradin and Sremska Kamenica) has 277,522 inhabitants. Novi Sad was founded in 1694, when Serb merchants formed a colony across the Danube from the Petrovaradin fortress, a Habsburg strategic military post. In the 18th and 19th centuries, it became an important trading and manufacturing centre, as well as a centre of Serbian culture of that period, earning the nickname of the Serbian Athens. The city was heavily devastated in the 1848. revolution, but it was subsequently restored. Today, Novi Sad is an industrial and financial center of the Serbian economy, as well as a major cultural center.