Miami ( my-AM-ee), officially the City of Miami, known as "the 305", "The Magic City", and "Gateway to the Americas", is a coastal metropolis and the county seat of Miami-Dade County in South Florida. With a population of 442,241 as of the 2020 census, it is the second-most populous city in Florida and the eleventh-most populous city in the Southeastern United States. The Miami metropolitan area is the ninth largest in the U.S. with a population of 6.138 million people as of 2020. The city has the third-largest skyline in the U.S. with over 300 high-rises, 58 of which exceed 491 ft (150 m).Miami is a major center and leader in finance, commerce, culture, arts, and international trade. Miami's metropolitan area is by far the largest urban economy in Florida and the 12th largest in the U.S., with a GDP of $344.9 billion as of 2017. According to a 2018 UBS study of 77 world cities, Miami is the second richest city in the U.S. and third richest globally in purchasing power. Miami is a majority-minority city with a Hispanic population of 310,472, or 70.2 percent of the city's population, as of 2020.Downtown Miami has one of the largest concentrations of international banks in the U.S. and is home to many 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, and the Leonard M. 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 the world in both passenger traffic and cruise lines. Miami is the second largest tourism hub for international visitors, after New York City. Miami has sometimes been called the Gateway to Latin America because of the magnitude of its commercial and cultural ties to the region.In 2019, Miami ranked seventh in the U.S. in business activity, human capital, information exchange, cultural experience, and political engagement.