This year, the return of the Latin Grammy awards to Miami is projected to generate an impact of around 50 million dollars on the county's economy. Miami-Dade Mayor, Daniella Levine Cava, highlighted that hosting these awards not only honors the community's Latin roots but also positions the county as a global center for culture and entertainment.
The Latin music industry has experienced rapid growth worldwide, reaching 685 million dollars in the first half of 2024 and expected to reach 1.2 billion dollars by the end of the year. This is attributed to an increasing presence in the U.S. market and a global surge in streaming.
The Latin Grammys, which held their inaugural gala in Miami 25 years ago, return to the city after being primarily awarded in Las Vegas and Los Angeles. In the previous edition, they were held in Seville, marking the first time they were celebrated outside the United States. The mayor emphasized the importance of this event for the local economy, with thousands of visitors expected to fill hotels, restaurants, and local businesses.
In this edition of the Latin Grammy awards, Karol G and Bad Bunny lead with eight nominations each. Additionally, Spanish artists such as C. Tangana, David Bisbal, Diego El Cigala, Iñigo Quintero, Ale Acosta, and Valeria Castro are also featured as standout candidates. The cultural and artistic sector of Miami-Dade contributes 2.1 billion dollars in economic activity and supports over 31,000 jobs.
The broadcast of the event through Univision is expected to attract significant economic benefits to the region, with the arrival of visitors, media, and industry professionals boosting the local economy. Both the Mayor's office and the Greater Miami Convention and Visitors Bureau have highlighted the significance of this event in showcasing Miami's talent and cultural diversity, as well as strengthening its thriving economy.
