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Around the world, people agree that the best U.S. city to try living and working abroad is Miami, Florida. Not too far behind is New York City, which ranks 16th out of 50. The South Florida city didn't rank so well in the survey's "working abroad" index. Still, an overwhelming majority, 85%, of expats living in Miami are happy with their life in general, as well as 74% of expats in New York, compared with the 71% global average. 1 city for expats to live and work abroad in 2022, followed by Dubai and Mexico City.
Miami club owners told the Financial Times business is slumping as the crypto industry takes a blow. Crypto, tech, and hedge fund leaders came to the city en masse during the pandemic. But in the wake of the FTX implosion, some of the city's top spenders have vanished. Now, with the downfall of companies like FTX, club owners and promoters aren't quite certain if big spenders will return, as the value of cryptocurrencies take a nosedive and major players like Sam Bankman-Fried hemorrhage vast amounts of their net worth. According to the FT, FTX paid $135 million to secure 19 years worth of naming rights to FTX Arena, home to the Miami Heat.
Colombians are searching for Miami properties this year more than any other country's residents. COVID-19 caused a shift in preference from commercial to residential real estate as an investment. They see Miami real estate as a safe investmentWhy the turn to US real estate now? They see opportunity in residential real estate, as opposed to commercial real estate, like offices and retail spaces. "People were waiting to see who the next president was going to be, but now they're very afraid," Gomez said of Cipriani's Colombian buyers.
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