Buquebank: Argentines Withdraw Millions From Colonia ATMs

Patrick Archer buenos aires events, entrepreneurs, tourism, uruguay

Six weeks ago we learned that sleepy Colonia del Sacramento posted the largest percentage increase in Argentine bank deposits of any city in Uruguay. Now those same Argentine account holders are racking up the Buquebus frequent ferry miles and giving the shiny new ATMs in Colonia’s 27 banks the workout of a lifetime. According to El Pais’ Pedro Ramon Clavijo, …

Charming Colonia Is Uruguay’s Fastest-Growing Safe Deposit Box

Patrick Archer aruba, foreign investment, hotels & casinos, real estate, tourism, uruguay

The surge in Argentine bank deposits in Uruguay made front page news last week and should come as a surprise to no one who has followed the impact of Argentine currency controls on everything from new construction to existing property sales to outbound tourism. The surprising part of the story is exactly where those funds are being deposited in Uruguay. …

Uruguay Soy Farms Poised To Benefit From Regional Problems

Patrick Archer agribusiness, aruba, competitiveness, foreign investment, real estate, uruguay

A recent spate of disasters, both natural and man-made, in neighboring Argentina and Brazil are giving Uruguay soy farmers cause for additional optimism as the fall harvest inches ever closer. “Various Factors Affirm (Uruguay) Soy,” is the headline of Blasina & Associates regional analysis published today in El Observador highlighting a laundry list of issues plaguing soy producers across the …

Uruguay Posts Record Exports Thanks To Soy, Beef & BRICS

Patrick Archer agribusiness, aruba, real estate, uruguay

2012 was another record year for Uruguay exports fueled by agribusiness investments and surging demand from BRIC nations across the border and around the globe. Uruguay XXI, the country’s export promotion agency, released the report which shows the total value of all Uruguay exports rose 9% in 2012 to a record high of US$8.75 billion. Uruguay’s agricultural commodities led the …

Foreign Ownership Of Uruguay Farms Up 300% Since 2000

Patrick Archer agribusiness, foreign investment, real estate, uruguay

New census data out this week from Uruguay’s leading ag agency shows the number of foreign investors buying Uruguay farmland and the average farm size both rose rapidly over the past decade. The Uruguay Ministry of Cattle, Agriculture and Fishing (MGAP) released the 2011 Farming General Census yesterday, and the percentage of Uruguayans owning farmland has fallen to 83% from …