Puerto Rico, officially known as the Commonwealth of Puerto Rico, is a self-governing, unincorporated territory of the United States. It is the largest insular territory of the US, considered as one of the world’s most densely populated islands with a population of over 3.1 million inhabitants. The commonwealth’s capital is San Juan, known as one of the world’s busiest cruise-ship ports, and visitor’s paradise, with an estimated five million visitors annually. Puerto Rico is an archipelago with almost 300 miles of coastline and almost the same number of beaches, with famous locations such as El Yunque National Forest, Old San Juan, El Morro, La Fortaleza, and San Juan Cathedral. Puerto Rico’s leading industries include pharmaceuticals, electronics, textiles, petrochemicals, processed foods, clothing and textiles, followed by the service industry: finance, insurance, real estate, and tourism. By Latin American standards, Puerto Rico has the highest GDP per capita and the most developed and competitive economy; however, its poverty rate is higher than the poorest U.S. state.