Tourism
Miami has pretty much everything needed to attract tourists, including an international airport, year-round warm weather, beautiful beaches (with average water temperature of 79°F), trendy nightlife and plenty of hotels, restaurants and shopping opportunities. The area also hosts major league sports teams in American football, basketball, hockey and baseball. A wide range of companies serve the tourism industry in the greater Miami area, which hosted a record-breaking 23.3 million visitors in 2018, according to the Greater Miami Convention and Visitors Bureau. These visits support 144,800 jobs, making tourism Miami’s number one job creator.
Media and Entertainment
A number of major Spanish-language media companies have chosen Miami as their headquarters, such as Telemundo, Univision, Sony Music Latin and Universal Music Latin Entertainment. This area is also a destination for the film and entertainment industry, bringing over $1 billion into the local economy, according to FilMiami.
Banking and Finance
The banking and finance sector has been growing steadily in Miami and the city is now called the financial capital of Latin America. Miami-Dade Beacon Council says, “Miami-Dade has the largest concentration of domestic and international banks on the East Coast south of New York City.” Major employers in the area include Wells Fargo, Bank of America and Visa International. This industry contributes directly and indirectly to the local economy, with average annual salaries of over $130,000.
International Trade
With its close proximity to Latin America, it’s no surprise that Miami is a hub for international trade. The port is recognized as the Cargo Gateway of the Americas, facilitating logistics for international trade between the United States, Latin America and other countries around the world. PortMiami contributes $43 billion each year to the local economy and supports more than 334,500 jobs. Miami International Airport also handles an enormous amount of international cargo and passengers.
Agriculture
South Florida has the ideal climate for growing tropical fruit and vegetables. People in the rest of the country are especially grateful to have access to fresh produce in the winter thanks to the people working in this industry. Fruits and veggies aren’t the only agricultural exports from this region: a quarter of the ornamental plants sold in the United States come from this area, keeping our living rooms green all year long.