WRE News: Miami Ranks #1 in Economist Index, Signaling a Shift in Global Power Dynamics

Photography by on June 19th, 2023 in News

Miami, FL – June 19, 2023 – Miami has emerged as the top-ranked city in a new index released by The Economist, marking a significant shift in the balance of power on the global stage.

The publication took four key factors into account to create the index: population growth, GDP growth, office vacancies and housing prices, all over the past three years. Miami’s real GDP has seen an increase of 10.6% since 2019, while housing prices have simultaneously seen an increase of 39.5%.

According to the index, Miami’s rise can be attributed to its robust economy, favorable business environment, and growing influence in sectors such as technology, finance, and entertainment. The city’s strategic location as a gateway to Latin America and its diverse population have also played key roles in its rapid development.