It is classified as a Beta World City, ranking seventh in Latin America and 73rd in the world. Described as a "vibrant, eclectic place with a rich cultural life", and "a thriving tech center and entrepreneurial culture", Montevideo ranks 8th in Latin America on the 2013 MasterCard Global Destination Cities Index. By 2014, is also regarded as the fifth most gay-friendly major city in the world, first in Latin America. It is the hub of commerce and higher education in Uruguay as well as its chief port. The city is also the financial and cultural hub of a larger metropolitan area, with a population of around 2 million.

What is Montevideo classified as?