In recent years, Chiang Mai has become an increasingly modern city and attracts approximately 1 million foreign visitors each year. Chiang Mai gained prominence in the political sphere in May 2006, when the Chiang Mai Initiative was concluded here between the ASEAN nations and the "+3" countries (China, Japan, and South Korea). Chiang Mai is one of three Thai cities contending to host the World Expo 2020. It has also recently positioned itself to become a Creative City and is considering to apply for Creative City Status with UNESCO.