Palencia is a city of Spain located in the autonomous community of Castile and León. It is the capital and most populated municipality of the province of Palencia. Located in the northwest of the Iberian Peninsula, in the northern half of the Inner Plateau, the city lies on the left bank of the Carrión river. At the regional level, Palencia forms part of an economic axis together with the cities of Valladolid and Burgos. As of 2017, the municipality has a population of 78,892.