Miami is a key heart and chief in finance, commerce, society, arts, and global trade. The metro location is by considerably the greatest urban economic climate in Florida and the twelfth biggest in the United States, with a GDP of $344.nine billion as of 2017. In 2020, Miami was categorized as a Beta + stage international city by the GaWC. In 2019, Miami ranked seventh in the United States and 31st amid international cities in business action, human funds, info exchange, cultural encounter, and political engagement. According to a 2018 UBS study of 77 entire world cities, the metropolis was ranked as the third-richest in the world and the next-richest in the United States in getting energy. Miami is nicknamed the "Cash of Latin The usa" and is 1 of the premier majority-minority metropolitan areas in the United States with more than 72.seven% of the populace becoming of Hispanic and Latino descent.

Increased Downtown Miami has 1 of the premier concentrations of global banks in the United States, and is house to many huge national and global firms. The Well being District is a key heart for hospitals, clinics, and the biotechnology and healthcare study industries. PortMiami is the busiest cruise port in the globe in equally passenger targeted traffic and cruise strains, and refers to itself as the "Cruise Capital of the Globe". Miami is also a main tourism hub for international guests, rating second in the place soon after New York Town.

Many big companies are headquartered in Miami, including but not limited to Akerman LLP, Alienware, Arquitectonica, Brightstar Corporation, Celeb Cruises, Carnival Corporation, Duany Plater-Zyberk, Greenberg Traurig, Inktel Immediate, Lennar Corporation, Norwegian Cruise Line, Oceania Cruises, OPKO Health, Parkjockey, RCTV Intercontinental, Royal Caribbean International, Sitel, Southern Wine & Spirits, Telemundo, Vector Team, Watsco and World Gasoline Companies. Since of its proximity to Latin The usa, Miami serves as the headquarters of Latin American operations for more than 1400 multinational businesses which includes Walmart. Furthermore, firms dependent in nearby cities or unincorporated places of Miami-Dade County include, Benihana, Burger King, Carnival Cruise Line, Navarro Price reduction Pharmacies, Perry Ellis Intercontinental, Ryder, Sedano's, UniMás, and U.S. miami classified ads .

Miami is a major television production heart, and the most crucial town in the United States for Spanish language media. Telemundo and UniMás have their headquarters in the Miami location. Univisión Studios and Telemundo Studios generate a lot of the unique programming for their respective parent networks, this sort of as telenovelas, information, sporting activities, and talk displays. In 2011, 85% of Telemundo's first programming was filmed in Miami. miami escort listings is also a substantial audio recording centre, with the Sony Songs Latin headquarters in the town, together with a lot of other smaller file labels. The metropolis also appeals to many artists for songs video and movie shoots.

The housing market crash of 2007 induced a foreclosure disaster in the location. In 2012, Forbes magazine named Miami the most depressing metropolis in the United States simply because of the crippling housing crisis that expense multitudes of citizens their residences and employment. In addition, the metro spot has a single of the greatest violent criminal offense rates in the country and staff encounter prolonged daily commutes. Like other metro regions in the United States, criminal offense in Miami is localized to specific neighborhoods. In a 2016 research by the internet site 24/seven Wall Road, Miami was rated as the worst U.S. city in which to live, primarily based on crime, poverty, revenue inequality, training, and housing costs that considerably exceed the countrywide median.