Saturday, March 13, 2010
Dear Reader,
Uruguay rarely makes the headlines. The crime rate is low. It's safe, stable, and cultured. The infrastructure, from modern airports to roads, is first class. The country boasts tight banking secrecy laws, a lack of corruption, and attractive tax regimes for foreign investors.
Unusually, Uruguay did hit the headlines in recent weeks...but for all the right reasons.
The newly remodeled Carrasco International airport ranked as one of the most beautiful and functional airports in the world, in this piece from Travel+Leisure.This is good news for real estate investors and homebuyers in Uruguay. Improved accessibility makes a property more desirable...and more desirable means more renters, and a wider pool of buyers and a higher price if you decide to sell.
The remodeled airport will make travel more convenient for both locals and tourists. The worldwide trend for tourism figures in 2009 is down on previous years, but tourist numbers in Uruguay grew by 5.1% in 2009, compared to 2008. Tourist numbers in Rocha, which we'll discuss below, were up 8.9% on 2008.
The tourist figures do not include cruise ship arrivals, which also boomed in 2009. On one day alone, the seaside resort of Punta del Este hosted 4 cruise ships, carrying almost 9,000 passengers, with a fifth cruise ship arriving the following day.
Development is moving up the coast from Punta del Este to Rocha. Rocha doesn't have high-rises, chain hotels, or mega-resorts, but international developers are quietly purchasing large tracts of land. Ronan McMahon told you about land banking in Rocha on December 7, 2009.
Now the world is catching on: Spear's Wealth Management Survey decided that Uruguay is South America's best-kept secret for wealthy individuals and entrepreneurs. Their article discusses why Uruguay makes sense for investment, business opportunities ...and devotes a section to land investment.
Word is slowly getting out that Uruguay is worth exploring--whether your plan is relocation, setting up a business, buying a second home, or land banking. If you would like to taste Uruguay for yourself...from Punta del Este's glamour to Montevideo's quiet charm...Rocha's fabulous seaside towns, white-sand beaches and nature reserves...with a touch of culture thrown in for good measure, click here.
Margaret Summerfield
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