Miami-Dade: Discover More About the Finance Capital of Latin America (2024)

FAQs

Why is Miami called the capital of Latin America? ›

Origin: Miami is often called "The Capital of Latin America" because of its large and influential Latin American population and its status as a major cultural and economic hub in the region.

Known as the financial capital of Latin America, Miami-Dade has the largest concentration of domestic and international banks on the East Coast south of New York City.

Miami has sometimes been called the "Gateway to Latin America" because of the magnitude of its commercial and cultural ties to Latin America. In 2022, Miami ranked seventh in the U.S. in business activity, human capital, information exchange, cultural experience, and political engagement.

MIAMI, FL / ACCESSWIRE / March 15, 2024 / Florida is attracting world-class financial firms at a record rate, with Miami, in particular, now an international finance hub.

Miami is famous for its beautiful beaches, with miles of pristine sand and crystal-clear water. It is a paradise for sun-seekers and water sports lovers. Whether you're looking to soak up the sun or dip in the ocean, Miami's beaches are the perfect place to do it. Each beach has its unique aura and atmosphere.

Dade – On February 4, 1836 the Florida legislature voted to name the new county for Major Francis Langhorne Dade who was massacred by Indians in north central Florida at the beginning of the Second Seminole War on December 28, 1835.

Financial capital is the monetary assets required for a business to provide goods and services. Economic capital is the capital needed to cover the company in case of loss. Financial capital is commonly viewed as debt or equity.

New York City.

New York City remains the largest centre for trading in public equity and debt capital markets, driven in part by the size and financial development of the U.S. economy. The NYSE and NASDAQ are the two largest stock exchanges in the world.

According to a survey carried out in 2024, the Cayman Islands was the most attractive financial center in Latin America and the Caribbean in 2024, with a score of 665. Sao Paolo and Barbados followed, with 659 and 657 points, respectively.

The Magic City was first referred to by Miami's mayor in his speech to the United States Congress in 1939 when he said, “This community has been described as “the Magic City” because of its almost magical transformation which seems to change people from ragged and weary into happy and contented citizens.” An itinerary ...

Why does Miami have so many Latinos? ›

But it's no secret that the Miami we know today was deeply shaped by Cuban immigration. Starting in 1959, tens of thousands of Cubans fled their homeland for nearby Florida in search of a better life. Their exodus, and the communities and businesses they built, paved the way for other Hispanics to follow suit.

The Miami area was better known as "Biscayne Bay Country" in the early years of its growth. The few published accounts from that period describe the area as a wilderness that held much promise. The area was also characterized as "one of the finest building sites in Florida".

In consultancy Z/Yen's ranking of the world's premier financial hubs, published September 2023, Miami placed 24th. Six other North American cities were graded ahead of it, from top-of-the-table New York to Boston in 17th place.

Citadel's announcement in June, meantime, cemented Miami as one of the newest financial hubs. “From a small critical mass in tech and financial services, Miami really took off during the past several years,” said Jerry Haar, professor and executive director for the Americas at FIU Business.

As a result, Tallahassee was chosen as the capital of American Florida in 1824, primarily because it was the midway point between the two principal cities. Three log cabins served as Florida's first Capitol. In 1826, a two-story masonry building, 40' X 26', was built.

From the south, Miami represents an entry point into the U.S. economy. But coming from the opposite direction, it's the gateway to one of the strongest and most promising economies in the world today: Latin America. Mexico, Brazil, Colombia, and Argentina are spearheading this economic growth.

Latin America consists of Mexico, the Caribbean and most of Central and South America. In these countries, residents speak mostly Spanish and Portuguese. These two languages are classified as Romance languages, which are derived from Latin. So hence the name Latin America.