Known as the 'Magic City' and a popular vacation destination, Miami boasts some unique and laid-back beaches and vibrant nightlife. Time Magazine has named Miami as 'The Capital of Latin America' for its pulsating center of trade, commerce, entertainment, pop culture, and … Known as the 'Magic City' and a popular vacation destination, Miami boasts some unique and laid-back beaches and vibrant nightlife. Time Magazine has named Miami as 'The Capital of Latin America' for its pulsating center of trade, commerce, entertainment, pop culture, and arts. Laidback travelers can relax on the dunes at Hullover Park or Lummus Park or go for an art deco tour where they can learn a little about architecture or even try their hand at fishing.