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That's just wrong. São Paulo is the clear answer there. The three largest banks in South America are all in Brasil, and all based out of São Paulo. It might be the US capital for South American banks, but New York may have a greater connection. Heck, two of the largest banks in South America are Citi and Santander and neither of them are based out of South America. I used to work for Itaú and our contacts were in New York City, not Miami. I believe Itaú only has some private banking operations based in Miami.
Edit: A quick wakeup call for Miamians with delusions of grandeur. Here's the economic comparison, with Boston added in since someone else brought that up.
Miami
Population: 5,564,635
GDP: $274.1 Billion
Per Capita: $49,258.40
Philadelphia
Population: 6,018,800
GDP: $364 Billion
Per Capita: $60,478.67
Boston
Population: 4,590,000
GDP: $336.2 Billion
Per Capita: $73,253.16
Miami has fantastic Latin American connections which give it a fantastic culture and social vibe...but it's far from being above these other cities in terms of importance.
Exactly what I was going to say as well, since when did Miami become the financial center for South America?
The wealth gap in Miami is insane. So basically, Miami got to an Alpha- status, based on Cocaine distribution, and partly film, and partly small Latin-American banks in which many of the big time dealers in Columbia, can stuff all their cash in. Pretty impressive considering how young Miami is, and how it had no economic base, especially before the late-70's, when it was basically a giant retirement resort next to a giant swamp. Pretty impressive for a city as poor as it is, and considering how no one speaks English, and the educational attainment of the citizens is really, really, low. Miami truly is the Magic City. Really, no city has any excuse not to progress in to a global city, because if Miami can do, ANY city can do it, considering how little connections Miami had before the 80's.
Ive never heard of a city with so many flaws, yet became an alpha. From how people talk about Miami here you would think Miami was a shantytown.
Exactly what I was going to say as well, since when did Miami become the financial center for South America?
Has been for some time now. It is not NY but Miami is a business center for Latin America and the Caribbean. Lots of people place their money from those two regions in Miami. Most banks large companies do business in New York because large international corporations use the state of NY Law for their contracts.
Quote:
Originally Posted by kidd_funkadelic
the wealth gap in Miami is similar only to other cities in different countries like for instance a Rio or somewhere similar. I'm a business major so the economy is obviously discussed a lot and when we talk about wealth disparity in our country Miami is the poster child for that.
Like Rio? There is a wealth gap but stick to business because you have no idea what the geography/demographics of Rio are if you compare the wealth gap of Miami to Rio.
Quote:
Originally Posted by polo89
You guys are actually correct. Alot of those banks are 2nd even 3rd tier Latin-American banks. So Miami, being a young city, achieved an Alpha- ranking, basically based on Tourism, and Film. Pretty impressive how much Miami has accomplished, with pretty much no legitimate economic base to speak of, outside of Tourism. Either way, Miami got to where it was somehow. Basically, Miami accomplished so much with so little. Not bad for a city that was basically swampland no more than 100yrs ago VS cities that have been established for 100's of years.
Miami is a big logistics hub for air and sea freight, especially from the Caribbean and Latin America of course. It is a huge aviation center too for any aspect of aviation. It is not all Tourism and Media. Would not say film since TV and Music are bigger down here than movies. Another note U.S Southern Command is based in Miami.
The wealth gap is large, but pretty much any Brasilian city is on a different level when it comes to wealth gaps.
Quote:
Really, no city has any excuse not to progress in to a global city, because if Miami can do, ANY city can do it, considering how little connections Miami had before the 80's.
Well as long as the city can get a ridiculous amount of financial injection from a cash rich illicit industry whose main form of money laundering is through development of residencial & commercial properties.
He explained his methodology for the Alpha-Beta-Gamma-High-Sufficiency stratas a few years ago actually. The cities are ranked by intensive and extensive connections firms have with London. The ranking is how the planet's financial centers have a presence from or in London.
It's never been a ranking for the world's most powerful cities. It's silly really, they wouldn't include something as trivial as height of skyscrapers as the criteria for an importance ranking, not in a capitalist savvy world.
Yep. That's why people don't take this list seriously.
But for real, FlyMIA is right, one thing no one really brought up in this thread, is Miami's place in TV for Latin-America. Some of the most viewed shows in Latin-America, and by Hispanics in the US, are filmed in television studios in Miami suburbs like Doral. Univision and Telemundo have done wonders for Miami's place in international pop-culture. So many Telanovelas, and Variety Shows that are popular in Latin-America and in the Latin-American community are filmed in and around Miami. I'm talking Miami suburbs and bedroom communities as insignificant as Fountainebleu, and Doral, being home-bases for big-time Univision and Latin-American studios. Oh yeah, and there is a legitimate middle-class in South Florida. Not everyone is either SUPER rich or SUPER poor. I think the wealth in-come gap is more so between Central-Miami's city-limits, and Coral Gables, Miami Beach, Coconut Grove. The Black and Caribbean middle-class increases dramatically the further you get away from Central Miami and the further North you go into Broward County. Some folks seem to think Miami is only Overtown and Miami Beach.
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