Miami City is the cultural, economic, and financial center of Florida in the United States. A 2019 estimate of the population of the city makes it the sixth most densely populated city in the United States. Miami’s metro area has the largest urban economy in Florida with a GDP of $344.9 billion as of 2017.
In terms of human capital, information exchange, business activity, cultural experience, and political engagement, The city ranks 31st among the global cities. In a 2018 UBS Study of 77 global cities, Miami was the third-richest city in terms of purchasing power.
Before we know more about the culture of the city, let us find out more about the geography, topography, and demography of the city.
The Cityscape –
The city is roughly divided into four parts, the north, south, west, and the Downtown Area. Downtown Miami forms the heart of the city and is on the eastern side with neighborhoods such as Brickell, Virginia Key, Watson Island, and PortMiami.
Downtown Miami counts for Florida’s largest and the most influential central business districts. It houses many major banks, courthouses, financial headquarters, cultural and tourist attractions, schools, parks, etc. Northwest of the Downtown is Miami’s Health District. It is the city’s center of hospitals, research centers, and biotechnology. Some of the famous hospitals like the Jackson Memorial Hospital, University of Miami‘s Leonard M. Miller School of Medicine are located here.
The southern side of the city has neighborhoods like the Coral Way, The Roads, and Coconut Grove. Built-in the year 1922, Coral Way is a historic residential neighborhood. Coconut Grove, established in the year 1825, is another historic neighborhood with narrow, winding roads and a heavy tree canopy. Apart from that, it also has many nightclubs, bars, restaurants, bohemian shops, etc.
Economy of Miami –
Being a center of commerce and finance, the city boasts a strong international business community. Considering the level of presence of global corporate service organizations, The city is considered as an Alpha World City. It’s Gross Metropolitan Product is $257 billion, which ranks it 11th in the States and 20th in the world.
Many of the large companies are headquartered in Miami. Akerman LLP, Alienware, Arquitectonica, Brightstar Corporation, Celebrity Cruises, Carnival Corporation, Duany Plater-Zyberk, Element Solutions, Greenberg Traurig, Inktel Direct, Lennar Corporation, Norwegian Cruise Line, Oceania Cruises, OPKO Health, ParkJockey, RCTV International, Royal Caribbean International, Sitel, Southern Wine & Spirits, Telefónica USA, Telemundo, Vector Group, Watsco, and World Fuel Services count to just the some of them.
Since The city is close to Latin America, it also serves as the headquarters of Latin American operations for as many as 1400 multinational corporations. These include AIG, American Airlines, Cisco Systems, Disney, ExxonMobil, FedEx, Kraft Foods, LEO Pharma Americas, Microsoft, Yahoo!, Oracle, Sony, Symantec, Visa, and Walmart.
