Miami and Global Positioning

Long accustomed to being just a hub for Latin America and the Caribbean, Miami recently awarded itself an upgrade. It now advertises itself as the “Gateway of the Americas”. But why should an ambitious Florida city stop there, when “Capital of the Americas” beckons? Or even “Centre of the New World”, as one of its glossy brochures has it? For that is what Miami is now pitching for: already it has launched a big campaign to host the headquarters of the proposed Free Trade Area of the Americas (FTAA).

But it faces competition to host the FTAA. Other cities in the region are determined to outdo Miami as the link between the north and south of the Latin markets. Latinos are now the largest minority in America. Many firms view the American-Hispanic market as their most dynamic growth opportunity.

But Miami has a head-start. For one thing, says Tony Villamil, head of the Miami-based Washington Economics Group, “we are basically a Latin American city in the United States.” There is probably no more ethnically diverse city in Latin America either. Of Miami-Dade county's 2.3m population, over half were born outside America. Most are Hispanic, with around 700,000 Cubans, 100,000 Haitians and 40,000 Jamaicans. Bilingualism is passé. At the airport, announcements are made in English, Spanish and Creole.

Can anyone stop it? Atlanta, Georgia, is mounting a serious bid for the FTAA, as is the Mexican city of Puebla and Panama City in Panama. But perhaps the strongest rival will be Puerto Rico, which is aiming to give Miami a run for its money—both for the FTAA headquarters and as pan-regional centre. Héctor Mayol, president of the Chamber of Commerce there, argues that Puerto Rico's capital, San Juan, “offers a natural bridge between the United States and Latin America”.

Interesting one to watch.

More here.