Miami is a major centre and leader in research, finance, commerce, culture, media, recreation, the arts, and international trade. The metro area is by far the largest urban economy in Florida and the 12th largest in the United States, with a GDP of $344.9 billion as of 2017. In 2018, Miami was classified as associate Alpha level international town by the GaWC. In 2019, Miami graded seventh within the us and thirty first among international cities in terms of endeavour, human capital, information exchange, cultural experience, and political engagement. According to a 2018 UBS study of seventy seven world cities, the city was ranked as the third-richest in the United States and the eighth-richest in the world in terms of purchasing power.
Miami is nicknamed the "Capital of Latin America" and is that the biggest city with a Cuban-American plurality. Greater Downtown Miami has one amongst the most important concentrations of international banks within the us, 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. Port Miami is that the busiest cruise port within the world in each rider traffic and cruise lines, and refers to itself as the "Cruise Capital of the World".
Miami is additionally a significant commercial enterprise hub for international guests, ranking second in the country after New York City. Miami Beach is a south FL island town, connected by bridges to land Miami. Wide beaches stretch from North Shore Open Space Park, past palm-lined Lummis Park to South Pointe Park. The southern end, South Beach, is known for its international cachet with models and celebrities, and its early-20th-century architecture in the Art Deco Historic district with pastel-coloured buildings, especially on Ocean Drive