Miami, Florida is a veritable paradise, and beyond its appeal as a popular tourist spot the city is surprisingly well rounded in its offerings and attractions. Indeed, Miami is notable for its thriving economy, distinct cultural flavor, and its abundance of world-class sports attractions, celebrated culinary institutions, and its selection of museums, parks and live performance venues. Considering moving to Miami, Fl0rida this year? Find affordable storage units in Miami, FL at SpareSpace Storage in Downtown Miami. Read our definitive city-guide today and discover what makes The Magic City such an unforgettable city!
Median Home Value: $317,700
Median Household Income: $39,049
Economically, Miami is a major center of commerce and finance, and the city boasts a strong international business community due to its substantial immigrant population and its strategic location along the Florida Coast. Indeed, according to a 2018 ranking of world cities by the Globalization and World Cities Research Network, Miami is considered an Alpha level world city, naming the city as a significant location in the global economic network. Fittingly, Miami boasts a a Gross Metropolitan Product of $257 billion, ranking the city 11th in the United States and 20th worldwide in GMP. Consequently, the city is host to a number of prominent businesses, including five Fortune 500 companies: Lennar Corporation, Office Depot, World Fuel Services, AutoNation, and Ryder System. Additional prominent Miami businesses include Alienware, Norwegian Cruise Line, Southern Wine & Spirits, and Carnival Corporation, among others.
Previously mentioned, Miami is in a strategic location along the Florida Coast, and subsequently, the city’s Miami International Airport (MIA) and PortMiami are among the nation’s busiest ports of entry, especially for cargo from South America and the Caribbean. Overall, PortMiami is the world’s busiest cruise port, and is nicknamed the “Cargo Gateway of the Americas”, and the port has retained its status as the number one cruise/passenger port in the world for well over a decade. Consequently, as previously mentioned, a number of cruise lines make their headquarters in the city, including Carnival Cruise Line, Celebrity Cruises, Norwegian Cruise Line, Oceania Cruises, and Royal Caribbean International. Similarly as impactful, MIA is the busiest airport, and is the largest gateway between the United States and Latin America. Recent economic impact studies help highlight MIA and PortMiami’s significance showing:
Additionally, tourism is one of Miami’s largest private-sector industries, and this industry accounts for a significant portion of the city’s economy overall. The South Florida Business Journal helps elaborate on this concept noting the following:
Moving forward, Miami will likely be a dominant economic force for years to come, largely due to the city’s strategic location, and thriving tourism industry. Are you considering moving to Miami, FL this year? Be sure to consider the city’s robust and thriving economy prior to making your decision.
Culturally, Miami is a diverse city, a concept reflected in the city’s diverse, multilingual, and multicultural population. Fittingly, the city is host to a number of cultural events that highlight and celebrate this diversity, the most prominent being its Carnaval Miami, an annual Latin street festival that has been celebrated for nearly 35 years. Overall, this festival is one of the largest in the world, and features non-stop music, food, and activities that serve as a celebration of the city’s Latin American heritage. The festival culminates with the Calle Ocho Music Festival, a one-day fiesta in the Little Havana neighborhood of Miami that hosts dancing, food, drinks and 30 stages of live entertainment. Billed as the largest street festival or block party in the world, previous years have see over one million visitors attend the Calle Ocho event.
In addition to the city’s annual festivals, Miami is host to a number of exemplary entertainment venues, theaters, museums, parks and performing arts centers. Miami’s newest addition, and perhaps its most significant cultural institution, is the Adrienne Arsht Center for the Performing Arts, one of the largest performing arts centers in the United States. Set in the heart of downtown Miami, the Arsht Center consists of three main venue spaces, and is the official home of the Florida Grand Opera, Miami City Ballet, and the New World Symphony, among others. Additionally, this center attracts many large-scale operas, ballets, concerts, and musicals from around the world, and was notedly host to first Democratic primary debate of the 2020 presidential campaign.
Are you considering moving to Miami, FL this year? Be sure to spend time visiting and attending the city’s numerous cultural attractions, including their notable museums, annual festivals, entertainment venues, and more!
From a culinary perspective, Miami’s cuisine is a reflection of the city’s diverse population, and subsequently its restaurants carry influences from Caribbean and Latin American dishes. In combining these two styles of cuisine with American flavor profiles, Miami and its surrounding region has ultimately spawned a unique new style of South Florida cooking – Floribbean cuisine. Typical characteristics of this style of cooking include an emphasis on fresh ingredients and exotic spices such as red curry, lemongrass, ginger and scallions. Additionally, Asian culinary principles are present, and many dishes emphasize the use of locally harvested Asian fruits and vegetables. Below you will find a list of some of our favorite Floribbean restaurants within the Miami area, as well as some additional exemplary restaurants you may want to check out.
Alternatively, beyond the city’s restaurant scene, Miami is host to a number of celebrated bars, breweries and beer pubs such as:
Are you considering moving to Miami, FL this year? Be sure to take some time to visit one of the city’s many acclaimed restaurants or breweries this year.
Notedly, Miami is one of 13 U.S. metropolitan areas with sports teams competing in the four major leagues: the Miami Dolphins of the NFL, the Miami Marlins of the MLB, the Miami Heat of the NBA, and the Florida Panthers of the NHL. Of the aforementioned, perhaps the Miami Dolphins hold the most significance to the city, winning Super Bowl’s for the city in 1972 and 1973, and completing the only perfect (or undefeated) season in NFL history. The Dolphins play out of the Hard Rock Stadium in downtown Miami, a multi-purpose arena that also plays host to the Miami Hurricanes football team, a widely successful and popular NCAA Division 1 Football team that has previously won national titles in 1983, 1987, 1989, 1991, and 2001. In addition, this stadium serves as the site for numerous high profile sports events. Indeed, the Hard Rock Stadium has served as the host for six Super Bowls (XXIII, XXIX, XXXIII, XLI, XLIV, and LIV), the 2010 Pro Bowl, two World Series (1997 and 2003), four BCS National Championship Games (2001, 2005, 2009, 2013), the second round of the 2009 World Baseball Classic, and WrestleMania XXVIII.
Additionally, outside of football, the city’s Miami Heat have enjoyed success as of late. Readers of this city-guide should be familiar with NBA superstar Lebron James, a player that succeeded in revitalizing the Miami Heat franchise, bringing titles to the city in 2012 and 2013. Currently, this NBA squad is led by perennial superstar Jimmy Butler, a player that successfully lead the Miami Heat to the NBA Finals as recently as 2020. Moving forward, the Miami Heat are projected to be NBA favorites for years to come, a positive sign to both the city and its NBA fans.
Are you considering moving to Miami, FL this year? Be sure to schedule some time to take in a game with one of the city’s numerous professional sports teams!
As seen, Miami is a diverse, thriving, and exciting city, that is is notable for its thriving economy, distinct cultural flavor, and its abundance of world-class sports attractions, celebrated culinary institutions, and its selection of museums, parks and live performance venues. So, now that you’ve read our definitive Miami city-guide; are you considering moving to Miami, Florida this year? SpareSpace Storage in Miami, Florida can help you with your move!
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