Business

March 21, 2014

Miami ranks as 7th top global city in Wealth Report

Miami rose to seventh place in a recent survey of the most important global cities to the world’s wealthy.

Miami rose to seventh place in a recent survey of the most important global cities to the world’s wealthy.

Miami and New York were the only North American cities to make the top ten list of the Wealth Report, which is issued annually by London-based real estate consultancy Knight Frank. The report includes the Global Cities Survey which ranks cities based on four factors: economic activity, quality of life, knowledge and influence and political power, as well as taking into account the number of ultra-high net worth individuals who call each city home.

Miami ranked fourth in quality of life; ninth in economic activity, eighth in political power, and 10th in knowledge and influence.

Miami, which ranked eighth last year, outranked every other city in the Western Hemisphere with the exception of second-ranked New York. Miami outperformed Paris, Beijing and Dubai. The Global Cities Survey predicts that Miami will remain in the top ten for at least the next decade. New York and London will continue to vie for the top two spots over the next ten years, according to the report.

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