Economy of Miami
Located at the centre of North & South America, its port is recognized as the "Cruise Capital of the World" and "Cargo Gateway of the Americas" and its two international airports with 150 airlines serving up to 180 destinations a day. Miami is the home of 120 banks, is positioned the 2nd financial city in the US and as a result, many major corporations have relocated their headquarters to Miami. Two other elements that attract businesses to Miami are lower taxes rates in comparison to New York and California, and certain banks are known to offer the same advantages as off-shore banking institutions.
With more than 60 millions tourists a year, Miami boasts ideal weather conditions almost 365 days a year and is the primary destination for over 3.5 millions cruisers embarking from Miami Seaport, which represents more than 40% of the US cruise market. Duty free shops near the sea port and airport inspire shoppers to shop till they drop.
The real estate boom in 1920, and the recent surge in 2005, has changed the skyline of the city. There are more than 100 buildings in construction and new neighbourhoods like Midtown Miami, Downtown Miami and Brickell have added several malls and movies complexes drawing attention to those areas.
Tourism, technology, pharmaceuticals, fishing, forestry, sugar cane and agriculture represent some of the wide range of industries headquartered in Miami today, not to mention two thirds of the US citrus market
Update 13/06/2008
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