Miami benefits from Latin America’s rising crime

Miami /
Jun.June 18, 2013 12:00 PM

South Florida is benefiting from a rise in violent crime in Latin America, WLRN reported.

While the region enjoys one of the world’s fastest rates of economic growth, it is simultaneously burdened with one of the worst waves of violent crime in its history, the public radio station reported.

Enter Miami.

The city and surrounding area’s shopping centers, casinos, hospitality sector and condo developers have benefited not only from Latin America’s burgeoning wealth but also from its runaway murder rates. Fleeing the deadly dispute among drug traffickers over terrain from Mexico to Colombia, more wealthy Latin Americans are landing on Miami’s shores.

“Condos in Miami are being snapped up by people from Venezuela, where Caracas is really one of the most violent cities in the hemisphere now, and people from Brazil, Mexico,” NPR reporter Lourdes Garcia-Navarro told WLRN. “They’re able to buy them because the economies in those places are doing so well, but they’re leaving to Miami because the criminality [back home] is simply so bad.” [WLRN]Emily Schmall


Related Articles

arrow_forward_ios
Ecuadorian president, linked to US real estate, named in Pandora Papers
Ecuadorian president, linked to US real estate, named in Pandora Papers
Ecuadorian president, linked to US real estate, named in Pandora Papers
Guillermo Lasso and the Asia Brickell Key condo in Miami
Ecuadorian president’s alleged Florida real estate ties raise questions
Ecuadorian president’s alleged Florida real estate ties raise questions
American Airlines Arena, one of many public properties Odebrecht has built
Odebrecht bribery scandal spreads in Latin America
Odebrecht bribery scandal spreads in Latin America
?????????????????????????????????????????????????????????
Latin American luxury home market unfazed by Zika
Latin American luxury home market unfazed by Zika
Here are the best Latin American cities to buy real estate: report
Here are the best Latin American cities to buy real estate: report
Here are the best Latin American cities to buy real estate: report
George Soros
George Soros invests in Latin American hotel market
George Soros invests in Latin American hotel market
Santiago, Chile
Analysts forecast slower growth for Latin American economies
Analysts forecast slower growth for Latin American economies
Placeholder image
Lenders pony up $900M for new coastal condos
Lenders pony up $900M for new coastal condos
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...