The political upheaval that drives Latin Americans to Miami shows few signs of abating
Save time by listening to our audio articles as you multitaskMiami has become a commercial hub for the hemisphere. Miami-Dade County, which comprises the city of Miami and around three dozen municipalities, is where 1,200 multinational corporations have set up the headquarters of their Latin American operations. The county’swas around $172bn in 2019, making it the 14th-largest county economy in the United States, and roughly as big as the combinedof Ecuador and Uruguay.
Turmoil in Latin America has often boosted Miami’s fortunes. When Communists seized control of Cuba in 1959, Cubans with money or get-up-and-go fled the island and flocked to Miami. Next came Nicaraguans escaping from a socialist revolution in the 1970s and the civil war that followed it. From the mid-1990s Colombians came in droves, fleeing drug-related violence. All these groups have prospered, and contributed to Miami’s prosperity.
And if more leftists are elected in Latin America, more conservative types may vote with their feet. Some Colombians are nervous about the prospect of a victory for Gustavo Petro, a former guerrilla, in the presidential election this month. Capital flight from Colombia is already evident, says Paul Angelo at the Council on Foreign Relations, a think-tank. People fear Mr Petro will turn the country into “another Venezuela”, he says.
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