The island of Saint Barthélemy (St. Barts) was originally claimed for France by Jacques Cartier in 1536 and officially settled by French colonists from Normandy and Brittany in 1648. However, the island’s history is unique in the Caribbean because it was sold to Sweden in 1784 by King Louis XVI in exchange for trading rights in Gothenburg. The Swedes turned the capital, Gustavia (named after King Gustav III), into a free port, which brought immense prosperity to the island through trade. The Swedish influence is still visible today in the town's name and some architecture. In 1878, Sweden sold the island back to France, and it has remained French ever since. Today, it is an Overseas Collectivity (COM) of France. Unlike many other Caribbean islands, St. Barts never developed a major plantation economy due to its rocky soil and lack of water, which is why the island's culture and demographics remain distinctively more European in heritage compared to its neighbors.