Uruguay, the Country Chosen by Top Executives to Live, Work, and Invest

Uruguay is once again emerging as a destination of choice for leading global executives and entrepreneurs. This time, the spotlight comes from a profile published by Bloomberg and reprinted by the Argentine newspaper Clarín, which offers a glimpse into the everyday life of Marcos Galperín, founder and CEO of Mercado Libre, in Montevideo.

Far from the security details that typically surround vast fortunes, Galperín moves freely through his Montevideo neighborhood. He walks without bodyguards, drives his own car, goes to the local tennis club, shops at the neighborhood market, and strolls along the Río de la Plata promenade. No one stops him on the street, and no one seems to recognize him.

According to Clarín, citing Bloomberg, this sense of normalcy is precisely one of the aspects Galperín values most about his adopted country. “Uruguay is a paradise for me,” he says, pointing to the privacy, tranquility, and freedom it offers. Montevideo, just a half-hour flight from Buenos Aires, provides an environment he himself compares to “a small Palo Alto.”

Uruguay’s appeal, however, is not only personal—it is also strategic. Mercado Libre, the most valuable company in Latin America, with a market capitalization exceeding US$105 billion, has consolidated Uruguay as a key hub within its regional operations. The company employs more than 100,000 people across 18 countries, following rapid growth in the wake of the pandemic.

In Uruguay, that commitment is reflected in a sustained and expanding presence. Speaking at the e-commerce panel of the 28th Ibero-American Free Trade Zone Conference, held in November in Punta del Este, Diego Gamba, an executive at Mercado Libre, underscored the country’s strategic role. More than 1,800 people currently work for the company in Uruguay, with over 800 dedicated to technology, product development, and innovation.

This commitment dates back more than a decade. In a 2022 interview with Uruguay XXI, Karen Bruck, vice president of e-commerce at Mercado Libre, emphasized the company’s long-term investment in the country. “We chose Uruguay because it offers wonderful, truly world-class talent, as well as economic and political stability and clear rules of the game that make it almost a paradise in Latin America,” she said.

Among Uruguay’s key advantages, highlighted by company executives, are the ability to test initiatives in a predictable environment, a growing innovation ecosystem, regulatory clarity, legal certainty, and a strong commitment to sustainability—reflected in an energy matrix largely based on renewable sources.

Galperín’s case once again illustrates why Uruguay continues to attract global leaders seeking quality of life, investment stability, and an environment conducive to developing high value-added businesses.