This is a list of major companies or subsidiaries headquartered in the Miami metropolitan area. The economy in Miami has largely diversified with less emphasis on tourism, a number of companies are based in the area, many with connections to Latin America. Because of its proximity to Latin America, Greater Miami serves as the headquarters of Latin American operations for more than 1,100 multinational corporations that adds up to more than $221 billion in annual revenues., including AIG, American Airlines, Cisco, Disney, Exxon, Kraft Foods, Microsoft, Oracle, SBC Communications, Sony, Visa International, and Wal-Mart.