There are many reasons companies consider expanding their business operations into the United States. And within the US, Miami is proven to be a premier international business hub. As you evaluate where in the US to expand, consider the business opportunities in Miami.
The American economy is the largest in the world. With a population of 323 million individuals, Americans have a considerable amount of buying power. And American markets are generally quite conducive to turning a profit. But within the United States, you will have to decide is where you want your headquarters to be located.
Business Opportunities in Miami
Over the past decade, more businesses have looked to Miami, Florida to establish their American headquarters. Miami has some of the best weather and attractions in the entire country. However, for businesses, it offers so much more. It has a variety of business incentives, access points, and expansion opportunities that make it a particularly desirable location.
Let’s start with some important stats…
- 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
- Miami is located in the far Southeast corner of the United States. Therefore, it’s 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. It’s consistently a top choice for new immigrants
These are a few reasons Miami is an attractive location to headquarter a new or expanding business. The metropolitan area is projected to continue expanding as time goes on. Naturally, the international business dominance it exerts can be expected to continue expanding with it.
Additional Business Opportunities in Miami
Florida has a business-friendly tax structure and business-friendly legislature. These have helped Miami become one of the most economically competitive cities in the entire world. Additionally, the Southern Florida has relatively low cost of doing business, especially when compared to the large metropolises of the Northeast. This makes the prospect of expansion even more desirable.
Miami’s geographic location makes it a unique gateway to many different cultures.
Miami is widely recognized as one of the most important cities in the region.
- It’s located just 90 miles from Cuba. With it’s southern location, Miami is nicknamed “The Gateway to the Americas” and the “Capital of Latin America.”
- Business with headquarters in Miami have easy access to high-quality air and seaports, plus access to the entire Caribbean.
- Located in the far Southeast corner of the country, Miami has access to both European and African markets. There is no other location in the United States that can so easily connect to four continents at one time.
Miami’s geographical advantage 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.
Miami enjoys a blend of American, European, Caribbean, Latin American, and African cultures. This 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.