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The Wall Street Journal says more Americans and Europeans are discovering the charms of Montevideo.

Last week the Wall Street Journal said the time is now in Montevideo, and the good news has officially made its way from Wall Street to the Rambla Sur.

Montevideo’s El Pais was the first to translate the story this week which traces the country’s progression from a stagnant economy in the 1980′s to today’s dynamic, commodity-rich exporting, tourism magnet for neighboring Argentina and Brazil.

The Journal article, Montevideo Is Having Its Moment, speaks of the Uruguayan capital’s “fresh energy”, “a construction explosion” and a general sense of optimism that really began to blossom with Uruguay’s fourth-place finish in last year’s World Cup, a topic we covered last July (See On and Off Field, Uruguay Converts Skeptics). While Argentina’s early exit was a national embarrassment, Uruguay’s players used South Africa as a platform for telling the world about their country with Diego Forlan tweeting his way to the Balon de Oro.

The abundance of creative talent in Montevideo is also cited as boosting the city’s current transformation which is playing out in the boutiques, cafes and gourmet kitchens of Ciudad Vieja and neighborhoods like Aguada, Rambla Sur, Carrasco and Punta Carretas. The Journal says retiring Americans, Europeans and South Americans are all drawn to the Beaux-Arts architecture in Montevideo, the Cultural Capital of Latin America, and snatching up luxury properties at bargain prices.

Those looking for the affordable charm of Uruguay wine country are opting for Canelones, while those seeking unspoiled beaches are venturing to coastal towns like Jose Ignacio, La Paloma and Punta del Diablo. (Full Story in Spanish)

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