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Brazilians Spending The Most In Uruguay

On March 14, 2011, In a-bric, lifestyle, real estate, tourism, uruguay, by InvestBA

Reveillon Punta

Reveillon: A Uruguay vacation may be more expensive, but that suits these Brazilians just fine.

Argentines may still outnumber Brazilians during the peak vacation months in Punta del Este, but there’s reason to believe hoteliers and restaurateurs perk up a little more when Portuguese-speaking patrons enter their establishments. A new study by ADIPE, the Punta Real Estate Chamber, measures the amount of tourist spending by nationality, and the bottom line is Brazilians spend much more than Argentines do when they take their Ferias no Uruguai.

“Brazilians have much greater purchasing power, and they don’t worry so much about spending when they’re on vacation,” one source told Diario Catarinense. Punta is the destination of choice for Brazilians in the summer months, but Montevideo is now seeing the greatest influx the rest of the year, a trend we first spotted last August when MVD nudged PDE.

Back in Brazil, the president of Santa Catarina’s Tourism Board, Valdir Walendowsky, says Punta del Este now competes with Brazilian destinations like Florianopolis, Buzios and Angora dos Reis for the coveted free-spending Brazilian tourist. “Punta del Este is a destination for those seeking charm, the nightlife, for those traveling on a yacht, like Buzios,” Walendowsky says.

He says Punta has lured some Brazilian tourists away from Florianopolis in recent years and, even though a Floripa vacation might be cheaper than a Punta excursion, he acknowledges real estate in Punta is still cheaper than Florianopolis where the price/square foot is rising 12-15% annually. (Full Story in Portuguese)

For more information about investment opportunities and unique destinations in Uruguay, check out the Discover Uruguay feature in the new issue of InvestBA Privada.

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Carpe Uruguay: The Ruta Less Travelled

On October 6, 2010, In lifestyle, real estate, tourism, by InvestBA
Uruguay in UK Press

The Love Parade: South America's best-kept secret? Maybe, but apparently not much longer.

Great Taste. Less Filling. MetroUK takes a twist on the classic Miller Lite ad campaign in describing the Uruguayan experience for the uninitiated. The “great taste” part of the equation is easily understandable given the country’s amazing beef , seafood and red wine, but it’s the “less filling” that deserves some clarification. While regional big brothers to the north (Brazil) and west (Argentina) receive the bulk of travel ink and international tourists, MetroUK explains how Uruguay is perhaps more suited to the foreign palate of a first-time visitor to the Southern Cone. “Uruguay combines the best of its neighbours in a far more easily digestible package that makes it irresistible,” says Metro adding, “If you want a short, sharp hit of the best of Latin America then you’ve come to the right place.” No less an authority than BBC News jumped on the bandwagon this week with a glowing review of South America’s “best kept secret.” (Not much longer if the international press keep stoking the flames of Carpe Uruguay curiosity). BBC’s Veronica Psetizki interviews a 64 year-old American who just retired in coastal Uruguay—a growing trend—because of the country’s “clean water, good and healthy food, a good educational system, and good infrastructure, both in terms of roads and of Internet access.” Michael Brown, a California transplant sums up the country’s appeal, “You get good food, good wine, nice people, plus there is no rush-hour traffic, and I can get by speaking almost no Spanish at all.” (MetroUK story, BBCNews story)

For more information about living in Uruguay, e-mail us and for real estate investment opportunities in Montevideo and Punta del Este, download the October issue of InvestBA Privada.

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Uruguay Group To Court Housing Investors

On October 1, 2010, In foreign investment, real estate, uruguay, by InvestBA
Green Multi-family Housing

Uruguay is courting foreign investors who can build affordable housing for lower/middle-class families.

5 years and $5 billion dollars. That’s the goal of the Uruguayan government in courting foreign investors and promoting specific sectors where they see tremendous upside for investors and citizens alike. And a public/private partnership of government officials, developers and other professionals is ready to cross the pond in November to begin the outreach in earnest.

Given the country’s history and strong ties with the Iberian Peninsula, it seems logical the first stop would be Spain. The Trade Mission, which has the support of the Ministry of Foreign Affairs of Uruguay and the Embassy of Spain in Montevideo, will showcase the many benefits the small South American country can offer investors. Those benefits include generous tax exemptions and recently-enacted legal reforms that will facilitate joint ventures between private companies and the State in areas such as energy and civil engineering.

Trade Mission leader and Montevideo-based consultant Julio Villamide says the delegation is courting investment that will achieve the noble goal of developing more affordable housing for lower and middle-class families in Uruguay. He says the government is finalizing a plan that will offer tax exemptions for the construction of housing for sale and rent in hopes of attracting US$4 billion in new investment.

If the delegation is starting off in Barcelona (November 23) and Madrid (November 25), one has to wonder if the U.S. is next on the World Tour. While Spain is the leading source of foreign investment in Uruguay, the U.S. is closing in as a strong number two. Given the abundance and expertise of U.S. companies building energy-efficient, cost-effective housing, the delegacion uruguaya should take their Road Show to the States. (Full Story in Spanish)

For more information about investment opportunities in Uruguay, visit our archives and download the October issue of InvestBA Privada.

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Uruguay’s Hot Tourism Tandem: Montevideo & Punta del Este

On August 24, 2010, In foreign investment, real estate, tourism, uruguay, by InvestBA
Montevideo Airport

First Impressions Are Lasting: Montevideo's ultra-modern airport is a wonderful gateway to Uruguay.

Back-to-back stories this week from MercoPress highlight the tourism attraction and real estate growth in Uruguay’s two leading destinations: Montevideo and Punta del Este.

The statistics are encouraging, as they demonstrate some positive regional trends: more inbound visitors from countries besides Argentina, the long-standing number one for tourism exports to Uruguay, and a greater willingness among Uruguayans to explore other corners of the Southern Cone.

In fact, Uruguayans posted triple-digit gains of citizens visiting Paraguay (+228% ) and Chile (+102%). Of those foreigners visiting Uruguay, the numbers reflect the economic status quo in key international markets: almost 25% more real-empowered Brazilians and 7% fewer visitors from the U.S.

Montevideo’s cultural and urban Renaissance is finally being reflected in the tourism numbers, as more visitors made MVD their primary destination in the first six months of 2010 compared to Punta del Este. But don’t feel bad for PDE. Data released last week by the country’s Tourism Office shows $1.5 billion USD in real estate transactions taking place in the popular beachside destination over the past 18 months alone. The government estimates approximately 18.2 million square feet of new residential construction has been built in the last five years and, given current absorption rates, it’s not surprising the Mujica government is encouraging more foreign investment.

For more information on Uruguay’s quality of life and cost of living, visit our archives and download the new issue of InvestBA Privada.

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In Uruguay, the U.S. Sees An Export Hub for Mercosur

On August 19, 2010, In a-bric, competitiveness, foreign investment, us companies, visionaries, by InvestBA
Montevideo Port

U.S. companies look to Montevideo as a regional hub for expanding export markets throughout Mercosur.

The U.S. may be mired in a full-blown recession, but economic activity and investment is surging here in the Southern Cone. Now Washington may finally be taking note, as evident by news yesterday out of Montevideo courtesy of El Pai­s.

The U.S. Ambassador to Uruguay, David Nelson, told a gathering of businessmen at the Uruguayan Trade Chamber the U.S. is now encouraging more American companies to invest in the region in order to tap growing consumer demand in Mercosur countries Argentina, Brazil, Uruguay and Paraguay.

“As consumer demand has fallen in the U.S., our companies are looking for more export opportunities,” said Nelson adding, “(U.S.) companies are very interested in the region as a platform for investment and also a potential market for exports.”

Speaking about Uruguay specifically, Nelson says favorable tariff reductions at the San Juan Mercosur Summit has the U.S. eyeballing Uruguay as a regional distribution center. “In the last two weeks, I visited several free trade ports and companies investing in regional distribution logistics, and I see a very interesting possibility for American companies working together with Uruguayan partners to achieve this objective of export expansion.”

In closing, the Ambassador reiterated the most salient talking point for any company considering regional expansion based in Uruguay, “”Uruguay is a very interesting country for investment given its political and economic stability as well as its human resource wealth.” (Full article in Spanish)

For more information on U.S. companies already investing in Argentina and Uruguay, visit our archives and download the new issue of InvestBA Privada.

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