The Sixth Most Important Global City is MiamiNovember 8, 2016
The Knight Frank’s new Global Wealth Report from 2015 lists Miami as the 6th most important city in the world. Over the past decade, the city has been slowly moving up the list and has nearly cracked the top five. Part of this is due to the rise of Miami, but other factors, such as the decline of some European cities has caused the boost in ranking.
Some of the reasons Miami has been moving up the rankings include:
- It’s a Financial Hub
- It’s a Top City for the Wealthy
- Miami is a Top City for Beaches
- Miami is a Tourist Destination
- Miami Provides Lower Taxes
- Miami is a Hub for Tech
- It’s a Shopping Paradise
- Foodies Love the City
- Miami has Global Cultural Appeal
- Miami is Home to Star Architects
Other Cities on the List
The complete list of top ten most important cities in the world starts with London at the top. New York is next followed by Hong Kong, Singapore, Shanghai and then Miami. Miami beat out Paris, Dubai, Beijing and Zurich, which round out the top ten.
Not much is expected to change as the predictions for the most important global cities for 2025 still have Miami at #7. New York is at #1 on this predicted list followed by London, Hong Kong, Singapore, Shanghai, Beijing, Miami, Dubai, Paris and Zurich. The only really big move is Beijing going up 3 spots and Paris falling 2 spots.
Asia does hold four of the top 10 slots with the United States only taking two of the top 10. The Global Wealth Report focuses solely on the population of wealthy residents. London is the only city expected to remain strong from Europe with the declining also being expected in North America and the Middle East. Asia is expected to continue to grow dramatically.
Cities, such as Delhi, Mumbai, Ho Chi Minh City and Jakarta are all expected to see huge growth over the next decade. Even with this growth, the USA is expected to remain atop the list for countries with more than double the UHNWI population of the second place Japan.
Other US cities making the top 40 include:
- San Francisco – 19th
- Los Angeles – 22nd
- Washington DC – 34th
- Boston – 35th
Investing in Miami Real Estate Now Makes Sense
When the wealthiest people believe an area of the world is worth investing in, everybody else should follow suit. Miami is a hub for finance and tech. The city has plenty to offer and many are calling it “The New Manhattan” and the next big tech hub. This goes along with already being a huge center for art, yachting and tourism.
Miami isn’t a fad and is expected to maintain the strong position when it comes to the most important cities in the world for at least the next decade. Investing in real estate now is a great way to ensure you’re investing in one of the top cities in the world.