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Bloomberg: Miami One Of The Fastest Growing Cities In The World For Offshore Capital

Bloomberg: Miami One Of The Fastest Growing Cities In The World For Offshore Capital

Private bankers say that Miami is now among the fastest growing recipients of offshore capital in the world, according to Bloomberg.

Recent tax amnesty laws in Argentina, Brazil, Chile, Colombia, and Mexico have helped capital emerge from the shadows, benefiting Miami. Economic and political crisis in parts of South America have also helped fuel Miami’s growth.

Itaú Unibanco Holding SA says Miami is now their fastest growing office. The bank manages $13 billion in assets in Miami, out of $23 billion in total offshore holdings. Ten years ago, the bank had just $3.4 billion in offshore assets.

The wealthy are increasingly attracted to Miami as a place to live and visit, thanks to a rising cultural scene, Bloomberg wrote. The growth since Art Basel arrived in 2002 includes new museums, the performing arts center, and the emergence of Wynwood.

Miami is already among the most popular place for multimillionaires to have second homes, along with New York and the Hamptons, Bloomberg said. Many are now choosing to permanently relocate.

 

A separate Bloomberg video on tourism in the city: Miami is hotter than ever

 

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Anonymous
Anonymous

Miami has the best climate alongside world-class beaches and low taxes who doesn’t want to live here?

Anonymous
Anonymous

best climate? it’s hot and humid 9+ months of the year.

Polo
Polo

That’s the way I like it, hot and humid with air conditioning!

Anonymous
Anonymous

Also the occasional hurricane & tornado.

Anonymous
Anonymous

yeah i guess thats tough when you’re fat.

Anonymous
Anonymous

I like some seasonal differences, and wish the current weather we’re having would last longer instead of going back to shit on Friday.

Anonymous
Anonymous

6 months perfect weather.. 6 months hot as hell

So it evens out

Anonymous
Anonymous

Best climate?
You obviously have never been to the Mediterranean or Southern California

Anonymous
Anonymous

Southern California with their cold waters? Miami has the best weather according to many people, especially the ones living in cold places.

Anonymous
Anonymous

with their droughts wildfires and mudslides? no thanks.

Anonymous
Anonymous

Exactly! Go to laguna or even Santa Monica and freeze your butt at the beach. Not to mention the sewer always leaking horribly into the ocean in Santa Monica. I personally experienced it. Oh, what abt deducting 10 yrs off from your life due to the SMOG in the air?

Anonymous
Anonymous

Yeah waters are cold but we’re talking weather

Anonymous
Anonymous

SoCal weather overrated—and I moved from San Diego…Dec-mid March chilly (highs in low-mid 60’s, gets down in the low 40’s at night) with bone dry air that leaves your skin dried out; wetsuit needed to go into the ocean 8+ months; May Gray/June Gloom; and late August – September can have stretches where it gets to or above 100 with no breeze.

I live in Brickell which gets constant breezes and tall buildings block out summer heat. Very tolerable (not Vegas intolerable) during summer.

I take Miami Nov – June (8 months); July-Sept goes to SoCal; October can be a tie.

Much cleaner air quality in Miami….SoCal’ers treat humidity as though it’s the Forbidden Zone from Planet of the Apes…they are such weather wusses—a drizzle in January is the lead news story, “Winter Storm Watch”…lol

Anonymous
Anonymous

6 months amazing, 6 months very hot. Most places are 9 and 3

Anonymous
Anonymous

Thank goodness we got DeSantis to keep those taxes low 😉

Anonymous
Anonymous

Miami keeps winning!

Anonymous
Anonymous

Couldn’t this also be seen as a risk? Further propagating the boom-bust cycle?

Anonymous
Anonymous

We have consistent capital coming from so many sources, not rising and falling with other US cities. Miami is here to stay

Anonymous
Anonymous

but the worst city where drivers are a killer at the wheel and where there is no law.!

Anonymous
Anonymous

I’m not a millionaire, but I’m a beach addict and like the warm crystal clear sandy beaches

Anonymous
Anonymous

No real local capital in Miami. Lots of offshore capital coming in especially from shadowy enterprises. Great for developers of high end units unafordable by any Americans

Anonymous
Anonymous

“Miami is already among the most popular place for multimillionaires…” One idea floating around since 2006 is to make Miami a jumping off spot for citizens in space. Because such space travel is only the super rich can afford, the assumption is made that it would be a boon to the local economy since they will buy homes and need their mega yachts cared for while docked at the US’s only mega yacht marina on Watson Island. The idea is to helicopter (or Uber for the fugal super rich) to MIA, take a hybrid jet/rocket into space and then land at the old supersonic transport runway 30-miles west in the Everglades (one of only a few with lengths over 10,000′ such as the one at Cape Canaveral for the Space Shuttle). You can learn more here: http://bit.ly/2r6Nind

Anonymous
Anonymous

Whaaaat