Miami, known for its vibrant nightlife, beautiful beaches, and cultural diversity, is a major hub for tourism, international trade, and finance. Dubbed the “Gateway to Latin America,” the city now positions itself as a formidable challenger to long-standing American economic centers such as New York and Los Angeles. It has become a magnet for diverse talent from across the United States and internationally due to its favorable business environment and high standards of government services and living.
But how does Miami perform in terms of economic competitiveness, innovation, sustainability, city brand strength, and reputation according to leading rankings and indices?
Let’s explore:
- Miami’s economic competitiveness and financial performance
- City brand strength and reputation
- Livability: How appealing is it to talent, visitors, and locals?
Economic Competitiveness and Financial Performance
The Global Financial Centres Index 35 ranks Miami 38th overall, marking a decrease of fourteen positions. However, the city’s Fintech rank has improved, now standing at 34th, an increase of five positions.
2thinknow’s Innovation Cities Index 2022-2023 positions Miami 31st, reflecting a decrease of fourteen ranks.
City Brand Strength and Reputation
Miami’s brand strength is highlighted in the 2024 World’s Best Cities Report by Resonance, where it ranks 54th overall, with scores of 51st in Livability, 33rd in Lovability, and 113th in Prosperity.
The city has also shown improvement in Kearney’s 2023 Global Cities Index, where it is ranked 30th, climbing two positions from the previous year. The Global Cities Outlook ranking from the same report places Miami 58th, reflecting an impressive increase of 29 positions.
In the City Index 2023 by Brand Finance, Miami ranks 11th, underscoring its strong brand recognition and reputation on the global stage.
Livability: How Attractive Is It to Live, Work, and Study?
The Mercer Quality of Living City Ranking places Miami 67th, while the Mercer Cost of Living Ranking positions the city 22nd, indicating an increase of ten positions.
The Best Urban Cities for Digital Nomads ranking by Spot a Home ranks Miami 10th overall, noting its appeal for individuals interested in Migrant Acceptance (9.41), Annual Sunshine Hours (8.06), and Quality of Coworking Spaces (7.44).
In terms of sustainability, the Arcadis Sustainability City Index 2022 ranks Miami 45th overall, with specific ranks of 87th in Planet, 46th in People, and 10th in Profit.
In the IESE Cities in Motion Index 2024, Miami ranks 49th overall, performing well in International Profile (9th), Human Capital (19th), and Economy (23rd). However, the city could improve in Mobility and Transportation (101st) and Environment (154th).
In 2024, the Times Higher Education ranking placed the University of Miami in the 201-250 rank bracket, highlighting the university’s research quality, industry relevance, and international outlook. Meanwhile, the QS World University ranking for 2025 positions the University of Miami 324th.
Last updated in July 2024. Explore more city profiles here.
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Disclaimer: The information in this article is intended to provide a general overview of Miami’s economic and cultural landscape and facilitate comparison over time. While we strive for accuracy and completeness, we are not responsible for any typographical errors or inaccuracies. The data is provided “as is” without warranty of any kind. Users should verify any information before relying on it for decision-making purposes.
