Sibiu (German Hermannstadt, Hungarian Nagyszeben in Latin Cibinium) is the county capital and largest city of Sibiu county, Romania. Sibiu is an important cultural and economic center of southern Transylvania, with a population of 147.245 inhabitants according to the 2011 census winter resort Paltinis is located 37 km away from the city center and the Balea glacial lake is about 100 km away from the city . Sibiu was and is one of the most important and flourishing cities in Transylvania, one of the main centers of Saxon colonists settled in the area. The city was the capital of Transylvania between 1692-1791 and 1849-1865. A known in recent years a significant economic and cultural revival. Sibiu is currently one of the cities with the highest level of foreign investment in Romania. In 2007 it was European Capital of Culture, together with Luxembourg.