Miami, formally the City of Miami, is a coastal city in southern Florida, United States, that is part of the Miami-Dade County metropolitan area. In the 2020 census, it had a capacity of 467,963, ranking it as the 44th-largest city in america and the focal point of the nation's eighth-largest metropolitan area by population. The city features the third-largest skyline in the United States, with more than 300 high-rise buildings, 58 of which are higher than 491 feet (150 m).
Miami is a significant city and global leader in banking, business, culture, the arts, and international trade, among other fields of endeavour. With a gross domestic product (GDP) of $344.9 billion in 2017, the metro region is by far the biggest metropolitan economy in Florida and the 12th largest in the United States. The Globalization and World Cities (GaWC) designated Miami as a Beta + level global city in 2020. In terms of corporate activity, human capital, information interchange, cultural experience, and political participation, Miami was placed seventh in the United States and 31st among worldwide cities in 2019. An annual UBS survey of 77 international cities found that the city was rated the third wealthiest in the world, as well as the second richest in America, in terms of buying power. Miami is one of the biggest majority-minority cities in the United States, with a population of over one million people. According to the Census Bureau, Miami is the fourth-largest majority-Hispanic city in the United States, with 70.2 percent of its population expected to be Hispanic by 2020.
Downtown Miami and the surrounding area has one of the highest concentrations of international banks in the United States, and it is home to a huge number of national and international corporations. A significant hub for hospitals, clinics, biotechnology and medical research, the Health District is home to institutions such as Jackson Memorial Hospital and the Leonard M. Miller School of Health at the University of Miami, among others. It is also home to the Miami International Airport. It is known as the "Cruise Capital of the World" because it is the busiest cruise port in the world, both in terms of passenger flow and in terms of number of cruise lines. Miami is also a significant international tourist destination, ranking second in the US behind New York City in terms of foreign visitors. Miami has been referred to be the "Gateway to Latin America" by some.