Miami is well known to tourists for its fantastic beaches, perfect weather and fun lifestyle. The city, however, also has a robust business environment that is often overlooked.
With a population that speaks more than 120 languages, Miami boasts of a very diverse demographic. The city also has the most foreign-born residents in the United States, 41% of which hold either a bachelor’s degree or advanced degree. With its highly-skilled workforce,
Miami has become a globally competitive platform for large companies and startups.
Among the country’s largest metropolitan areas, Miami-Fort Lauderdale-West Palm Beach area ranked seventh in exports, which amounted to $32.7 in 2016, according to the latest statistics from the International Trade Administration of the U.S. Department of Commerce.
Aside from its well-developed trade and logistics infrastructure, Miami has gained a lot of attention among startups. According to the Kauffman Index of Startup Activity, Miami’s startup environment benefits from its welcoming attitude toward cultural diversity, something that was not prevalent during the Silicon Valley boom in the 1980s.
While Miami also attracts interest of investors from nearby Argentina, Colombia, Venezuela and Canada, Japan is one of the area’s most important partners. Hitachi Rail USA opened its first manufacturing facility in Miami-Dade County in 2016 to assemble the trains that will replace the county’s Metrorail fleet by the end of 2019.
Also, Miami International Airport will be inaugurating the first direct flights to Japan very soon.
With the city’s rapid growth, local authorities are marketing the area as more than just a tourist destination, but also as an important cultural, economic, and financial center of South Florida.