How Miami has quickly established itself as the premier international business hub
There are many different reasons a company would want to consider expanding their business operations into the United States. The American economy is the largest in the world, the population of 323 million individuals has a considerable amount of buying power, and American markets are generally quite conducive to turning a profit.
But deciding to expand your business into the United States is one thing. The next thing you will have to decide is where you want your headquarters to be located.
Over the past few decades, more and more businesses have been looking to Miami, Florida to establish their American headquarters. Not only does Miami have some of the best weather and attractions in the entire country—but there are also a variety of business incentives, access points, and expansion opportunities that make it a particularly desirable location.
Some important things to know about Miami:
- The Greater Miami Area is home to more than 6 million residents, making it the 8th largest metro area in the United States and the 67th largest in the entire world
- Located in the far Southeast corner of the United States, Miami is uniquely positioned to access a variety of international markets
- Miami is the second most visited city by international travelers in the entire country (second only to New York)
- In 2015, the Miami metropolitan area had a total GDP of $317 billion—if Miami were its own country, it would have the 35th largest economy in the world
- Miami is currently classified as an “Alpha—World City” by the World Cities Study Group
- Miami is consistently considered to have one of the most diverse populations in the United States and is consistently a top choice for new immigrants
These are just a few of the reasons Miami is a particularly attractive location to headquarter a new or expanding business. The metropolitan area is projected to continue expanding as time goes on, and naturally, the international business dominance it exerts can be expected to continue expanding with it.
Florida’s business-friendly tax structure and business-friendly legislature have helped Miami become one of the most economically competitive cities in the entire world. Additionally, the relatively low cost of doing business in Southern Florida (especially when compared to the large metropolises of the Northeast) makes the prospect of expansion even more desirable.
Miami’s geographic location makes it a unique gateway to many different cultures.
Since the city first formally incorporated in the late 1800s, Miami has been widely recognized as one of the most important cities in the region. Located just 90 miles from Cuba, Miami has been unofficially nicknamed both “The Gateway to the Americas” and the “Capital of Latin America.”
By establishing headquarters in Miami, businesses not only have easy access to high-quality air and seaports, but they will also have access to the entire Caribbean.
Because Miami is located in the far Southeast corner of the country, it is also uniquely positioned to access both European and African markets. There is seemingly nowhere else in the United States that can so easily connect to four continents at one time.
The geographical advantage that Miami can offer is unprecedented in the world of international business. But not only does Miami offer a tremendous amount of geographical diversity—the city also offers a tremendous amount of cultural diversity as well.
The unique blend of American, European, Caribbean, Latin American, and African cultures that is evident throughout the city creates a colorful environment that is highly conducive to international business. From the outside, Miami is the gateway to the United States. From the inside, Miami is the gateway to the rest of the world.