Miami as an international financial and cultural center has elevated Miami to the status of world city. Because of Miami's cultural and linguistic ties to North, South, and Central America, as well as the Caribbean, Miami is many times referred to as The Gateway of the Americas. Florida's large Spanish-speaking population and strong economic ties to Latin America also make Miami and the surrounding region an important center of the Hispanic world.

Miami is also home to one of the largest, most influential ports in the United States, the Port of Miami. The port is often called the Cruise Capital of the World and the Cargo Gateway of the Americas. It has retained its status as the number one cruise/passenger port in the world for well over a decade accommodating the largest cruise ships and the major cruise lines.

As of 2007, Miami is undergoing a massive building boom that ranks second worldwide (and first in the United States) for the most buildings under construction that will be over 492 feet (150 m), with over 24 of such buildings currently under construction. The Miami skyline also currently ranks third in the U.S. behind Chicago and New York City (and 18th in the world) according to the 2006 Almanac of Architecture and Design. Including other nearby neighborhoods and cities, the Miami area has over 80 highrise towers under construction, such as the Biscayne Wall in Downtown Miami, a row of skyscrapers being built along the west side of Biscayne Boulevard. Miami currently has the five tallest skyscrapers in the state of Florida with the tallest being the Four Seasons Hotel & Tower.