MIAMI—Many are talking about Miami’s rising international city status. But that talk reached a fevered pitch at a recent panel discussion that aimed to explore the elements driving the gateway city’s growth.

Hundreds of Miami’s business and civic leaders gathered at 1450 Brickell office tower for “Miami Goes Global: From Latin American Outpost to International Gateway” last week. BrickellHouse, the 374-unti luxury residential tower under development in the Brickell Financial District, and the Miami Downtown Development Authority sponsored the panel.

“There is a perception that Miami is dependent on Latin America, but bulk of my clients are now coming from points east and west, as opposed to north and south,” said Suzanne Amaducci, a partner at Bilzin Sumberg in Miami. Amaducci was among the panelists, who discussed topics ranging from foreign investment and mass transit, to education and casino gambling.

“Mass transit is Miami’s Achilles heel right now,” said Danet Linares, executive vice president of Blanca Commercial Real Estate. “We are making improvements with the Orlando-to-Miami rail line and the new AirportLink, but we still have a far way to go.”

Panelists also included City National Bank senior vice president and director of marketing Eddie Dominguez, former Miami Mayor Manny Diaz, Cervera Real Estate managing partner Alicia Cervera, and Miami Commissioner Marc Sarnoff.  David Adams, Bureau Chief for the Southeast U.S. and Caribbean at Thomson Reuters, served as the evening’s moderator.

“In today’s world, where you choose to live is more important than the job itself because the job could be anywhere thanks to technology,” said Diaz. “Miami is now competing with Shanghai, New Delhi and Montevideo for new corporate headquarters. We are able to compete because people want to live here.”

Throughout the discussion, there was a common thread that despite the strides Miami has made, this city has limitless potential when it comes to attracting new companies, encouraging smart development, and improving quality of life. Dominguez told listeners Miami’s brand is a tremendous asset—Miami is known globally as a fun place to visit and a desirable place to live.

“Real Estate in Miami is a bargain when compared with other leading cities. A $3,000 per foot home in London is selling for $300 in Miami,” Sarnoff said. “The private sector needs to step up as Miami further develops. Government’s job is to set the table, but private industry needs to serve the food.”