Miami, Florida is an economic powerhouse, serving as the financial and business capital of Latin America. Miami is a major centre and leader in finance, commerce, culture, arts, and international trade.
Miami metropolitan area has a population of over 6,158,824 people. The metro area is by far the largest urban economy in Florida and the 12th largest in the United States, with a GDP of over $344.9 billion, Miami was classified as a Beta + level global city by the GaWC, ranking highly in terms of business activity, human capital, information exchange, cultural experience, and political engagement. Miami is nicknamed the "Capital of Latin America" and is the largest city with a Cuban-American plurality.
Greater Downtown Miami has one of the largest concentrations of international banks in the United States, and is home to many large national and international companies. The Health District is a major centre for hospitals, clinics, and the biotechnology and medical research industries. Dante B. Fascell Port of Miami (PortMiami) is the busiest cruise port in the world in both passenger traffic and cruise lines, and refers to itself as the "Cruise Capital of the World". Miami is also a major tourism hub for international visitors, ranking second in the US after New York City.
Miami is split roughly into north, south, west and Downtown areas. The heart of the city is Downtown Miami, which is on the eastern side and includes the neighbourhoods of Brickell, Virginia Key, Watson Island, as well as PortMiami. Downtown Miami is Florida's largest and most influential central business district, with many major banks, courthouses, financial headquarters, cultural and tourist attractions, schools, parks and a large residential population. Brickell Avenue has the largest concentration of international banks in the United States. Just north-west of Downtown is the Health District, which is Miami's centre for hospitals, research institutes and biotechnology, with hospitals such as Jackson Memorial Hospital and the University of Miami's Leonard M. Miller School of Medicine.
The southern side of Miami includes the neighbourhoods of Coral Way, The Roads and Coconut Grove. The western side of Miami includes the neighbourhoods of Little Havana, West Flagler, and Flagami. The northern side of Miami includes Midtown, The Edgewater neighborhood, Wynwood, the Design District and the Upper Eastside. The northern side of Miami also Little Haiti, Overtown , and Liberty City.
The metropolitan area also includes West Palm Beach and Fort Lauderdale.
Miami is a Beta + city according to the Globalization and World Cities Research Network (GaWC) which evaluates and ranks the relationships between world cities in the context of globalisation.
Beta level cities are cities that link moderate economic regions to the world economy.