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Miami is a coastal city in the southeast portion of the U.S. state of Florida. It is the second-most populous city proper in Florida, with a population of 442,241 at the 2020 census. The Miami metropolitan area in South Florida has an estimated 6.39 million residents, ranking as the fifth-largest metropolitan area in the Southeast and eighth-largest metropolitan area in the United States. Miami has the third-largest skyline in the U.S. with over 300 high-rises, 70 of which exceed 492 ft (150 m). It is the county seat of Miami-Dade County. Miami is a major urban center and leader in finance, commerce, culture, arts, and international trade. Miami's metropolitan area is the largest urban economy in Florida, with a 2023 gross domestic product of $533.674 billion. In a 2018 UBS study of 77 world cities, Miami was the third-richest city in the U.S. and the third-richest globally in purchasing power. Miami is a majority-minority city, with 70.2 percent of the city's population identifying as Hispanic and Latino as of 2020. Downtown Miami has among the largest concentrations of international banks in the U.S. and is home to several large national and international companies. The Health District is home to several major University of Miami–affiliated hospital and health facilities, including Jackson Memorial Hospital, the nation's largest hospital with 1,547 beds, the Miller School of Medicine, the University of Miami's academic medical center and teaching hospital, and others engaged in health-related care and research. PortMiami, the city's seaport, is the busiest cruise port in
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